Formalized Training Builds Skills Flexibility

Author(s): Jennifer Perrier


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In the best of times, professional development activities are often overlooked. When times are tough, they are often cut completely. More often than not, this is a symptom of an enterprise culture that does not prioritize its employees, to its detriment. As a small enterprise, opportunity exists to modify this culture before it becomes ingrained.

The goal of this research note is to introduce the fundamental concepts of formalized professional development. Coverage includes:

  • The benefits of professional development programs.
  • The impact of training (or lack thereof) on the bottom line.
  • Defining a professional development program.
  • Developing individual professional development plans.
  • Tools for aiding the development management process.

Neglected training carries costs to the enterprise. Understand these costs and formalize efforts to strategically invest in staff professional development.

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