How To Calculate The ROI Of Professional Development

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Increasingly, employees are requesting and requiring professional development programs as a condition of working for, or staying with, an employer. Companies that do not offer training as a benefit are struggling to hire and retain highly qualified workers, leading to higher costs and lower competitiveness.

Indeed, younger workers rank training and development 300% higher than cash bonuses as a motivator to commit to an employer. Given that these workers, the millennials, will represent fully 75% of the workforce by 2025, this is a trend no company can afford to ignore.

Is the ROI there, though? Does the cost of developing employees to achieve their maximum potential vis-à-vis functional competency, industry knowledge, leadership and management skills, deliver net-positive financial return?

In this paper, we examine the depth and breadth of the demand for training and tease out the true value of failing to meet this need.
We examine the impact that professional development can have on engagement and retention. We propose a model for evaluating the ROI of committing to a credible professional development program. And we posit an approach that, if applied, can develop highly qualified, highly engaged employees at significantly lower cost for today’s leading organizations.

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