Investing in Yourself: The Benefits of Ongoing Professional Development

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professional developmentAs you grow in your career, it’s crucial to continually build new skills and gain a broader knowledge base that will enable you to perform your duties to the best of your ability. Each sector’s needs are ever-evolving and companies are constantly re-evaluating their processes. Failure to meet your industry’s demands may prevent you from progressing in your career and fulfilling your goals. With professional development, you can reach your full potential, thrive in your chosen field, and open new opportunities for yourself. In this article, we will explore the pivotal role that professional development plays in your career, including how it can aid you in meeting your personal, professional, and financial goals.

What are the benefits of professional development?

When you enter the workforce, you must continue to train and educate yourself so that you stay up-to-date on industry trends and practices. You shouldn’t assume that you can succeed and secure your professional future with the skills you started with.

Remember, just because you were once qualified for your job, doesn’t mean you’ll always be the most qualified one in the room. Competition is already so intense in the corporate world, so you’ll need to invest in yourself to stand out, stay relevant, and be indispensable in the eyes of your employer.

Professional development is perhaps one of the best ways to boost your worth at work. Whether by training, shadowing, or simply reading a book, you’ll be able to establish your credibility and put yourself on the path to professional success.

Below, we’ve listed a few benefits of professional development.

1. Qualifies you for promotion

Some employees are content with their positions which is why they don’t invest in themselves. But if you plan to climb that corporate ladder, be prepared to put in the work. You’ll need to gain new knowledge, bridge gaps in your skills, and possibly even earn certifications before you can become eligible for positions where you’ll manage, mentor, and lead others.

Through professional development, you can show your employer that you have ambition and the will to do better. It’s also a sign that you’re in it for the long run (employees who want to stick around are more likely to look for ways to enhance their skills). This attitude is often rewarded with promotions as your bosses will look favorably upon you.

Fortunately, from your employer’s point of view, investing in people already in the company is more cost-effective than hiring from the outside. Chances are that they will support you with your professional development plans, such as offering to pay for classes/courses you intend to take.

2. Increases your earning potential and opens more opportunities

It’s no secret that more skilled employees are more valuable, and as a result, are more bankable. Possessing the right skill sets – and in some cases, the mere motivation to seek self-improvement – is a testament to your credibility, which can help you advance more swiftly in your career. And with each promotion comes a pay raise!

Even if you don’t get promoted, you’ll be able to negotiate your pay or be offered better-paying opportunities that speak to your newly gained abilities. When changing careers, you’ll also be more hireable because of the certifications, credentials, education, etc. you’ve invested in.

In any case, professional development can indeed increase your earning potential – a must for anyone with a financial mindset.

3. Expands your professional network

Connecting with like-minded professionals, whether from the same or entirely different fields, during professional development opportunities is one way to discover new opportunities. Broadening your network within and beyond your industry allows you to connect with professionals who you can collaborate with in the future.

And who knows? They might want to work with you permanently. Most of the people you’ll meet at conferences, seminars, mentorship programs, etc. will want to hire you – if you impress them, that is. When the time comes for a career change, you can count on the connections you’ve forged to make that transition much easier.

4. Keeps you up-to-date with industry trends

The world of work is constantly evolving; it’s vital to evolve with it. There will always be new practices, innovations, and standards that redefine how companies do business, and while it can be overwhelming to keep up with the changes, it’s an inevitable part of your professional life. Whether you like it or not, you will have to adapt and find ways to stay up-to-date. If you lack the skills specific to your role, it won’t be long before someone else fills your shoes.

From free online courses to mentorship programs, there are plenty of ways to lengthen your CV and gain a wealth of knowledge that will enable you to do better at work.

5. Reignites your interest in your profession

Career stagnancy can occur when you don’t feel engaged at work. It can lead to boredom, and eventually, burnout. If you’ve been at the same company for years and you feel like you’ve lost passion for your role, it may be time to partake in various forms of professional development, such as one-on-one coaching and online courses.

With continued learning, you can reignite the passion you once had for your role and walk into the office with a renewed sense of excitement. In addition, you may even discover branches of your field you haven’t explored before, and be introduced to areas of specialization that are better suited to you.

The takeaway

Professionals who invest in themselves will be better equipped to handle today’s turbulent work environment and be better qualified for positions up top. By staying abreast with industry trends and striving to upskill, you’ll be able to build your credibility and contribute more to your company’s success. Plus, when you possess many of the sought-after competencies of the 21st-century workplace, you can future-proof your career, move forward with confidence, and make it easier for you to accomplish the rest of your milestones.

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