Devoting time and resources to develop training for your employees is one of the best investments you can make in your company. Providing professional development resources for your finance and accounting team not only increases their knowledge but boosts productivity and engagement.
Investing in the development of your employees also encourages loyalty and retention because employees feel incentivized and respected at the company because of the growth opportunities given to them.
Here are some helpful tips to promote professional development for your finance and accounting team:
- Offer training and upskilling opportunities
Upskilling is very much on the minds of finance and accounting professionals and their managers. PwC notes, “In a fast-changing economy, winning companies are adept at building new skills and capabilities, particularly those based on digital technology.” Provide your team members with training opportunities that can be done virtually to enable them to advance their careers – benefitting both the employee and your organization. PwC’s 2020 survey of CEOs revealed “the most lasting results come from upskilling the current base of full-time employees.”
- Design a mentorship program
Mentorship is always appreciated in a work environment. Having a program through which employees can learn from and grow with a mentor is valuable to the employee, the mentor and the employer. Forbes says, “Organizations that embrace mentoring are rewarded with higher levels of employee engagement, retention, and knowledge sharing. Through mentorship, mentees can further nurture their leadership skills and be able to take on their role with added confidence and focus. According to a study conducted by Wharton, “good mentoring can lead to greater career success, including promotions, raises, and increased opportunities.
- Cross-training among departments
For your accounting and finance professionals to continue to learn and develop new skills, cross-training with other departments can be beneficial. Not only is this a great strategy for employees to get to know one another and foster synergy, but they will be able to be able to see the bigger picture from the perspective of other department teams as they grow within the organization.
- Access to continuing professional education
Providing access to certifications and CPE courses to earn credits is another way to add to your employee’s development. Creating a resource section for your employees (such as on internal websites) for employees to find webinars and industry association events, will help your employee easily find programs to further their growth. For example, Ledgent CPE University offers professionals a way to catch up and earn CPE credits, at no cost.
- Invite guest speakers such as industry leaders
Using your company’s partnerships and connections with industry leaders is a great way to further add to your department’s training and development. This is a great opportunity for your employees to continue to learn from successful leaders and give them the opportunity to ask questions where they can take away valuable and insightful information to advance their careers within the company.
By taking the time to learn about how your employees want to grow and further their careers, you can go a long way in making sure that your employees are happy and truly getting the training and development opportunities they need to continue to stay productive and deliver success at the firm. Additionally, giving them the time needed to do these courses will also be helpful and a stress-free way to manage their workload and further their education.