To attract and retain top talent, the globe’s top corporations recognize the value of investing in their employees with opportunities for continuing education and professional development. Both Millennial and Gen-Z employees seek employers who provide robust development that improves their hard and soft skills, regardless of where their career path takes them.
As part of the Youngstown State University (YSU) online Master of Business Administration (MBA) with a Specialization in Organizational Leadership program, graduates learn the ins and outs of inspiring employees, harnessing the power of teams and increasing productivity. Rising leaders leave the program with an increased understanding of why their workplaces should invest in employee development and how they can effectively motivate team members to take advantage of those opportunities.
Increasing Demand for Professional Development
One of the most significant factors shaping the modern workforce is the demand for professional development, particularly from younger generations. Millennials and Generation Z employees prioritize educational opportunities when choosing potential employers.
A survey conducted by Deloitte found that nearly 30% of employees in those age groups cited learning and development opportunities as a quality they looked for when considering potential employers. Research cited by Harvard’s Division of Continuing Education found that 74% of employees said a lack of development opportunities was holding them back from reaching their full potential. Conducted by talent management platform Clear Company, the survey discovered that 94% of employees would stay longer at a company if they believed executives were investing in staff development.
While young employees cite continuing education as a factor in their job search, very few actually take advantage of tuition reimbursement or other programs supporting their return to school, according to InStride research. While 80% of people surveyed said they were interested in attending classes while on the job, only 2% of workers participated in workforce education programs offered by their employer, according to InStride data.
The factors behind the gap range from not being aware of their options to pursue further education to not having the money to pay upfront costs of tuition. Other employees find the programs offered by their employers do not line up with their educational goals, such as certifications or earning a four-year degree rather than a master’s degree.
InStride points to another crucial element: building a culture where pursuing continuing education and professional development is encouraged and rewarded. If an employee watches a colleague earn a new certification but not a promotion or raise, the employee will not be incentivized to pursue a similar path. In addition, bosses must ensure that employees do not feel pressured to focus all their time on their job duties and have support to pursue studies outside the workplace.
Design and Implement Effective Continuing Education Programs
The benefits of offering and encouraging employees to take advantage of professional development programming are clear. In a job market turned upside down by the COVID-19 pandemic and remote work, continuing education can be the difference maker in retaining employees, bolstering employees’ confidence in their work and improving overall job satisfaction, according to Harvard.
In addition, the prospect of tuition reimbursement or other educational opportunities can attract higher-quality talent, enhance decision-making abilities of employees, and create the next generation of leaders within the organization, according to Shift Workspaces.
Rising leaders are crucial in building a culture that motivates employees to pursue educational opportunities. As Roundtable Learning points out, leaders don’t have to spend enormous resources to accomplish this goal. Managers could start a monthly book club to build community around leadership topics, build collaborative relationships and start conversations about where the company could improve its own practices. Peer-to-peer mentoring programs can also increase employee engagement, provide psychosocial support and build skills on each side of the mentor-mentee relationship.
Leadership Theories Applied to Education With Youngstown State University
Youngstown State University’s online MBA with a Specialization in Organizational Leadership program prepares leaders to introduce and integrate professional development programs into their company culture. The Essentials of Leadership Coaching course helps students unlock the skills necessary to guide employees and create lasting change as colleagues, managers and leaders.
Through the Developing and Leading High Performance Teams course, leaders also learn the characteristics of successful teams and how to foster collaboration, communication and trust through encouragement and development. Both electives build core competencies among the next generation of leaders.
By honing the skills necessary to effectively manage talent and build high-performance teams, YSU’s online MBA with a Specialization in Organizational Leadership program produces inspirational leaders ready to design and implement effective continuing education programs. More importantly, graduates learn the importance of investing in themselves and fostering a culture of lifelong learning.
Learn more about Youngstown State University’s online Master of Business Administration with a Specialization in Organizational Leadership program.
