Company culture has changed. With a decline in employee loyalty and an increase in job-hopping, it can be difficult for employers to attract and retain candidates. One way many organizations are combating this issue is by reconsidering benefit offerings. While some companies are implementing outrageous perks to entice employees, many others are focusing on benefits that will keep employees around long term.
A recent EdAssist by Bright Horizons survey (2024) found that 74% of workers are interested in developing new skills or pursing additional education, including nearly all Gen Z respondents, confirming high demand for education and skill growth. The study also reports that 83% feel more engaged at work if they're continuously learning new things. There's also evidence that Millennials rank the ability to learn and grow as the most important job consideration.
Whether at the start of their career or a seasoned professional, employees from every industry are beginning to see just how valuable professional development can be. But why is it so important to employees and employers alike and what are the benefits? Let’s dive in and learn more.
Employee turnover is an unavoidable part of doing business, but 42% of the turnover we see today could be prevented. Your employee turnover is a key indicator of organizational health and workplace culture as it reflects the rate at which employees leave an organization and must be replaced. In a recent Gallagher Workforce Trends Report, 66% of HR executives say retention and employee turnover remain their number one workforce challenge, with over half of operations executives citing turnover as their primary obstacle as well.
Now, how does employee turnover negatively affect your organization? The short answer: it’s expensive. Replacing an employee typically costs about 33% of their annual salary but some sources cite costs as high as 200% for executive-level positions. Funds spent on recruiting and hiring, onboarding, lost productivity, and lost engagement due to the overall impact on employee morale can add up. The total annual cost of employee turnover for US businesses exceeds $1.8 trillion as of 2025, and continues to rise, according to recent business reports. In an attempt to curb these mounting costs, companies across industries should be in search of ways to strengthen their employee retention efforts.
What’s one major solution to employee turnover? As an employer, you can provide professional development opportunities for employees. In fact, 94% of employees stay longer at companies that invest in their professional development, according to the 2024 LinkedIn Workplace Learning Report. Trends also show that young workers value upskilling and would choose a job at a company offering education benefits over a competitor who didn’t. According to a Bright Horizons report, nearly 74% of employees are open to learning new skills and 48% would prefer employer-sponsored education and benefits, demonstrating these as key factors in job selection for today’s workers.
This presents a compelling business case for offering professional development programs. “I would make the argument that it costs more to hire and train someone who leaves than it costs to develop them and have them stay and be productive,” offers Mike Warren, former adjunct business professor at UMass Global.
Even though numbers are stabilizing since the pandemic, in 2024, approximately 3.7 million Americans (monthly average) still left their jobs voluntarily, according to the latest JOLTS reports. This monthly average is in line with the annual trend, resulting in over 44 million voluntary quits for the year. One possible contributor is that professional development benefits are often among the first things to go when budgets get cut. But eliminating those opportunities can actually cost your business more in the long run. Warren puts it simply: “Organizations that don’t provide these services are encouraging their employees to seek help outside the company; they’re setting themselves up for that person to eventually seek employment somewhere else.”
Here are some ways that professional development opportunities not only benefit employees, but you as the employer as well.
Companies with a strong learning culture have up to two times (100%) higher retention rates and 57% engagement, according to the aforementioned LinkedIn Workplace Learning Report 2024. “When people feel you really do care about them and that you’re working for them, they can’t help but continue to commit” says Darwish, a UMass Global tuition reimbursement partner at Hyundai.
It can be difficult to determine what kind of professional development your employees want and need. Before you invest time and resources into your workforce, be sure you are offering development-focused benefits that align with your teams’ roles and career. Join us as we explore the opportunities that could turn your organization into a coveted workplace.
It’s clear that professional development opportunities are a major factor in recruitment and retention. Here are five of the most sought-after training and education pathways and how they can benefit you and your employees.
A SHRM and TalentLMS study found that 54% of employees want leadership training, indicating strong interest in developing these skills. Though this is a broad category, the effect of fostering confident leaders is unmistakable — good managers can improve employee engagement and overall retention.
One of the best ways to encourage manager development is by offering online courses. At UMass Global, for instance, professionals can enroll in classes like effective delegation and self-management. In addition to reviewing relevant case studies, students engage in interactive assignments and receive support from dedicated instructors. Webinars also offer an effective learning opportunity that allows employees to engage from their desks. For an in-person option, try hosting internal workshops that are run by high-level managers who share insight and offer practical tips.
By providing training like this, you could help develop confidence in your managers and impact employees across your organization.
Like management training, professional certifications can include course work but often require more preparation and typically involve passing standardized exams.
Certifications are a great middle-ground option, requiring less commitment than degrees, which makes them appealing to employees moving into new roles or taking on additional responsibilities. According to the PayScale report, the industries most interested in professional certifications were:
There are certification preparation courses offered by schools that can help employees prepare for exams while earning continuing education units (CEUs). One good option for general business development in almost any industry is a Human Resources Certification Exam Preparation Course. This covers material necessary to pass either the Professional in Human Resources (PHR) or the Senior Professional in Human Resources (SPHR) exams. Other popular courses can prepare employees to become certified in the Six Sigma approach for process improvement and payroll accounting, management, and administration.
As you evaluate which options are best for your employees and organization, be sure not to mistake certification preparation with certificate programs. While certification often involves self-paced study, a certificate involves multiple courses that can be transferred into degree programs such as a master’s degree. Two examples of this include a Graduate Certificate in Business Administration — covering foundations of standard business practices like financial reporting, economic influences, and marketing management — and a Graduate Certificate in Business Intelligence and Analytics — teaching students how to leverage data to make better decisions.
While certain industries have more opportunities for technical skills training than others, PayScale reports that workers in a variety of occupations are interested in advancing their proficiency in areas such as programming languages, search engine optimization, and 3D molding. They include employees who work in:
Technical training can be included as a part of certification requirements, workshops, and individual classes. For example, UMass Global offers a bootcamp in data science for those looking to take their analytics skills to the next level. Again, it’s possible to host your own trainings by leveraging existing employees who have already mastered certain technical skills. Some professional conferences will even host working sessions to help attendees learn new skills and deepen their existing knowledge.
As industries incorporate new technologies, it’s also good to keep in mind that IT certifications can go a long way toward pushing your personnel to remain competitive. Instead of outsourcing tasks, providing technical training to existing employees can keep talent in-house.
It may seem like investing in technical skills is the most sensible thing to do, but don’t overlook soft skills. Competencies like emotional intelligence, communication, and collaboration are just as important. These are the types of skills that keep your departments thriving.
While some critics may argue that these skills can’t be taught, there are certainly ways to develop these competencies with the right training. There are plenty of informal exercises that can help workers improve their communication, collaboration, and creative thinking.
Lastly, some employees are looking for tuition assistance as they work toward their degrees. This route can be more expensive than other offerings; however, the return on investment (ROI) may increase accordingly. Among employees whose organizations offer tuition reimbursement, three-quarters say they’re more likely to stay and 84% cite it as a major factor in accepting a job offer. Between reduced turnover rates, increased employee engagement, and lower recruitment costs, tuition benefit programs can save your organization a lot of money in the long run.
Furthermore, you may not have to spend as much on tuition as you might think. Employers are able to offer a portion of educational assistance tax-free.
Professional development is about more than just meeting the baseline criteria to be a competitive workplace. It’s about cultivating an environment that values growth and encourages employees to do their best. The evidence is out there; employees want professional development opportunities from their organizations and investing in employees has shown to sustain business success. By implementing targeted development programs, offering financial support, and fostering a culture of continuous learning, employers can create an environment where employees grow and businesses thrive.
“[Businesses] are learning the hard way that if they don’t start developing people at every level of the organization, profits will suffer and people will leave,” Warren says. “If you want to attract and retain people, you must provide a clear path to how someone is going to advance in their career. That conversation starts with how you as an organization are going to develop that individual.”
Bear in mind that everyone is different. Some workers may value a degree while others are more interested in training workshops. You may need to explore a number of options like the ones we’ve covered in this article, but make sure to reach out to your own employees to learn what professional development opportunities they need to grow and succeed.
Having a strategic partner can help you implement these opportunities. UMass Global can help your organization to bring new professional development benefits to life through custom training and degree program options. Visit umassglobal.edu/partner to get started.
UMass Global offers a wide variety of degree programs to advance your career. Explore your options and find a degree that fits you.
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