The Power of Ongoing Professional Development
In today's rapidly evolving business landscape, investing in ongoing professional development is not just an option—it's a necessity. Both for yourself the owner of your firm and your team. I believe it is the key that unlocks the door to personal growth, leadership sharpening, career advancement, and organizational success. Yet, many firms struggle with neglecting this vital aspect of people management.
Here are three specific solutions that are realistic and impactful in order to embrace a growth mindset and invest in knowledge.
Solution 1: Set Aside Time and Resources for Continuous Learning
The first step towards fostering a culture of ongoing professional development is to prioritize it. Here's how you can do it:
a) Dedicated Learning Time: Encourage your team members to allocate specific time in their schedules for learning activities. It could be a couple of hours each week or a designated "learning day" where they can focus on acquiring new skills, exploring industry trends, or deepening their expertise. At both my firms we set up “lunch and learn.” Zoom and remote work should not hamper this effort if the quality and value is high.
b) Learning Budget: Allocate a portion of your firm's budget specifically for professional development. This budget can be utilized for training programs, online courses, conferences, or workshops. As a benchmark I have seen 1%-3% of an employees annual salary or around $1,000 per employee being allocated for training. Show your team that you are invested in their growth by providing the necessary resources to support their development journeys.
c) Learning Opportunities: Create an internal learning library or a digital platform where employees can access a variety of resources such as e-books, articles, podcasts, or webinars. Encourage knowledge-sharing within the organization and foster a continuous learning environment. I created an Amazon book purchase program. We would buy any book for anyone as long as they shared insights and takeaways with their team or the firm.
- Tools: Utilize learning management systems (LMS) such as TalentLMS or Docebo to create a centralized platform for organizing and delivering training materials to your team. These platforms offer features like course creation, progress tracking, and certification management.
- Tips: Encourage employees to leverage online learning platforms like LinkedIn Learning, Udemy, Coursera, or SkillShare which provide a wide range of courses on various topics. I am on SkillShare often. Additionally, consider hosting lunch-and-learn sessions where team members can share their expertise or invite external speakers to present on relevant subjects.
Solution 2: Seek (your) Industry-Specific Training with Your Clients
At first blush this seems awkward, but hear me out. An effective way to invest in ongoing professional development is by providing industry-specific training to your clients. A perfect and relevant example is to offer training on ChatGPT or AI. By doing so, you not only enhance their skills and knowledge but also position your firm as a trusted advisor and partner. At Kith we invested in a joint training with one of our clients on Social Network Analysis. This was a topic the client wanted to invest in and we partnered sharing costs to level up both sides of the partnership. Collaborate with industry experts or training providers to offer tailored learning experiences to your clients. These could include workshops, boot camps, or online courses designed to address their unique requirements. I have found larger clients value us looking out for them and offering solutions that some may view as threatening.
Solution 3: Build a Network of Professionals and Engage in Knowledge-Sharing
Expanding your network of professionals and actively engaging in knowledge-sharing activities is a powerful way to foster ongoing professional development. This goes for you as the leader as well as encouragement for your team to step out and learn.
Here's how you can leverage this solution:
a) Networking Events: Attend industry conferences, seminars, or meetups to connect with like-minded professionals. Actively participate in discussions, share insights, and build relationships that can contribute to your ongoing learning and growth.
b) Online Communities: Join online communities, forums, or LinkedIn groups relevant to your industry or area of expertise. Engage in discussions, ask questions, and share your knowledge to contribute to the collective learning of the community.
c) Mentoring and Coaching: Seek out mentors or coaches who can guide and support your professional development journey. Their experience and insights will provide valuable perspectives and help you navigate challenges with greater confidence. (link to 1:1 coaching on site)
- Reference Material: "Never Eat Alone" by Keith Ferrazzi offers strategies and insights on building and nurturing professional relationships. It provides guidance on effective networking techniques and creating a robust network of professionals. While not a book about learning it is very valuable if finding people you can learn from.
By implementing these three solutions, you can create a thriving environment that prioritizes ongoing professional development & nurtures a growth mindset - in you and your team.
