As the worldwide business landscape evolves, responding to the whims of technology and increased competition, so does the importance of professional development programs. Designed to arm employees with new resources to succeed in their positions, even preparing them to accept additional duties within the company, these programs are gaining in popularity, complexity and necessity.
According to Steve Hawter, vice president of learning and development at The Learning Experience, professional development “controls an employee’s readiness for contributing to a company in new ways, whether the company adopts a new strategy, expands or needs change.”
To keep up with the rapid pace of change in the business world, employees must be encouraged and supported to seek refresher courses and accept new challenges.
“It is less important to learn a Topic or skill than to be able to adapt to new and evolving workplace challenges,” Nanette Miner, Ed.D., owner of The Training Doctor, told Business News Daily. “It is important not to remain a dinosaur in your industry to keep your job and remain valuable.”
There are definite differences between training and professional development, said Hawter. “Training fills in a gap, but development looks to the future and growth of the company and employee.”
Professional development begins on day one of a new job, in Miner’s opinion. “For company longevity, there should be a clear career path,” she said.
Conversely, training is based on the needs of the organization at the time. While employees can co-train on a mutually agreed topic, professional development budgets have shrunk in the past few years.
“Companies are not investing in their talent,” Miner said. “My overarching belief is that more money has to be invested in self-management, ethics, communication (written and verbal) and leadership skills.”
Key takeaway: Training fills a gap, whereas professional development focuses on employee and company growth.
Many employers shy away from professional development programs, thinking they are unnecessary. However, there are several ways these programs can benefit not just your employees, but also your business.
Beyond the benefits of supplemental training for one’s job, professional development enhances an employee’s value and ensures they remain relevant in their career field, said Steve Smith, founder and CEO of GrowthSource Coaching. Professional development can also involve an employee becoming certified in a field complementary to their current position.
Development certification is one way for staffers to demonstrate they can perform bigger and better things, upping their value to their employers and the workforce in general.
“Becoming irrelevant is the fastest way to lose your job or, if [you own] a company, have your business decline,” Smith said.
According to Smith, many people pursue professional development to bolster their confidence in what they do at work, “which is a noble reason to continue to develop yourself.” This confidence can translate into higher overall job satisfaction, which in turn increases employee performance, productivity and morale.
Businesses that do not offer career-building educational opportunities for their staff tend to see greater employee turnover than those that do provide those resources. Miner said that disinterest correlates to “why companies are finding hiring and retention so hard. They are not investing in professional development, and employees leave.”
Interesting, challenging and career-enhancing education is becoming an employee “expectation,” said Hawter. Companies that don’t invest in a culture that prioritizes educational training programs for their staff run the risk of losing them to employers that do.
Key takeaway: Professional development programs Boost employees’ knowledge, skill sets and job satisfaction, resulting in higher employee retention.
Even the most impressive professional development program is destined to fail if a participant does not “buy into” the initiative, said Hawter. These are the two pillars of a viable professional development program:
According to Hawter, “micro-learning” is a big buzzword in the learning and development universe. Micro-learning means an educational opportunity that focuses on small concepts.
One example of this niche learning is teaching a staffer how to connect with the mobile generation. That knowledge in particular is all the more important since an ever-increasing number of millennials and Gen Zers work remotely. Because the modern workforce comprises three or four generations, a one-size-fits-all approach to employee enrichment is simply outdated, Hawter said.
The availability of both formal and informal professional development opportunities is imperative in today’s modern workforce. Webinars and podcasts are examples of informal learning that gives the participant total control over when they seek assistance. That is partly why informal professional development programs are more impactful when combined with formal offerings.
The best professional development programs are overseen by professional organizations, such as Dale Carnegie Training, because those workshops “focus on leadership,” said Smith. “Those programs are designed to teach new things but also provide game plans to help [companies] implement professional development in the workplace.”
Even companies that start with the best of intentions might stop fully supporting learning and development efforts over the long term, Smith said. Regular follow-ups are necessary to ensure employees are using everything they have learned to Boost their performance.
Hawter urges companies not to minimize the importance of employee development, largely because “PD ensures employees know of the company’s investment in them and demonstrates the company’s real concern” for their welfare.
Key takeaway: A strong professional development program should offer continual formal and informal employee development opportunities that match the employees’ needs.
As team members, your employees can work both individually and together to reach a common goal. The personal growth of each employee contributes to the success of the entire business.
According to Adrian Ridner, CEO and co-founder of Study.com, the acknowledgment of an employee’s talents and successes in fulfilling their job responsibilities builds their confidence, which increases employee retention and morale.
An Akumina study showed that millennials tend to favor moving from one job to another. Empowering employees, especially younger workers susceptible to job hopping, to succeed in their current roles and ultimately move up could reduce this turnover.
There are numerous ways for employees to pursue professional development. Follow these steps to find the program – or combination of programs – that works best for your team.
Addressing skill gaps among employees is essential for business owners and managers. You and your team managers or HR representatives should meet with your employees regularly to discuss each one’s job performance and areas where professional development would benefit them and the company. The conversation should include suggestions for improvement, showing the employee the company cares about them and their future.
Additionally, bouncing professional development ideas around the office empowers employees to play an important role in the program while encouraging personal and professional growth.
“Creating a culture of learning in the workplace is a shared responsibility,” Ridner said. He added that employees should feel free to suggest academic or professional development programs.
Businesses should consider forming partnerships or provide access to workplace education, like online lessons and in-house training sessions, Ridner said. You could also turn to online industry offerings or connect with experts in your field.
It’s crucial for employees to keep pace with societal and technological developments. Since rapid technology advancements impact most industries, professionals armed with diverse skills and abilities offer more flexibility and value to employers than those whose learning has stagnated.
“With the advent of technology and online learning, it’s easier and more inexpensive than ever to foster a culture of learning in the workplace,” Ridner said.
According to Ridner, employers should arrange brainstorming groups or mentorship programs to help staffers connect with one another. For example, Study.com organizes 24-hour “Rockethons,” during which the company forms small teams to discuss ideas, create prototypes, Boost tools and more. [Read related article: How to Find a Mentor]
Get an expert speaker or knowledgeable team member to teach your employees in an informal lunch setting. The expert can present to the team, and then employees can engage in a creative discussion with the expert, gaining front-row knowledge on a specific topic. This is a great monthly event that can help educate employees without taking up too much of their time. Many companies pay for lunch for the employees to eat while listening to the speakers, which gives staff an incentive to come and an even more positive association with the sessions.
While some staffers welcome professional development opportunities, others might be reluctant. As an employer, you should encourage educational pursuits in and out of the workplace. You could also organize initiatives to stimulate new ideas.
Key takeaway: Consult your employees on which professional development programs sound most helpful to them. Some ideas are lunch-and-learns, industry expert speakers, online courses, and/or internal mentorships.
Sammi Caramela and Skye Schooley contributed to the reporting and writing in this article. Some source interviews were conducted for a previous version of this article.
Thimble Insurance offers affordable and flexible professional liability insurance, which is ideal for small businesses that have changing coverage needs.
Coverage is available in a variety of different term lengths
Policies are affordable, starting at just $36 per month
Thimble serves a wide variety of professionals, including those in niche industries
Thimble Insurance is the best choice for small business professional liability insurance. The coverage is affordable, you can choose how often you want to pay, and the application process is quick and easy. As your company scales, you can easily adjust your coverage through the online customer portal.
Professional liability insurance from Thimble is available for individuals in many different professions, including pet sitters, freelancers, event managers, beauty professionals, fitness professionals, and more.
One of the best features of Thimble is the flexibility it provides in policy terms and payment options. You can buy annual coverage, or purchase insurance for individual projects that only last a few days or weeks, so you’re not paying for coverage you don’t need.
Thimble’s professional liability insurance policies start at just $36 a month, and instead of paying your premium in one lump sum, you can opt to pay monthly instead.
Thimble sells several other types of business insurance, including general liability insurance, equipment insurance, business owner’s policies, workers’ compensation insurance, and even hard-to-find policies, like drone insurance and event insurance.
According to one of the company's pages, the professional liability policies are available in all states. However, you should check with a representative because another page notes that the professional liability policies are not available in Washington or New York.
Based in the Midwest, Shelley Frost has been writing parenting and education articles since 2007. Her experience comes from teaching, tutoring and managing educational after school programs. Frost worked in insurance and software testing before becoming a writer. She holds a Bachelor of Arts in elementary education with a memorizing endorsement.
Thirty percent of Americans are overweight. There are many influences on overeating including genetic predispositions, overweight friends, and family. The good news is these influences can't force you to overeat since your actions come from your thinking and you can change your thinking.
In most (but by no means all) cases, being overweight results most directly from eating too much no matter what influences surround this problem. The simple (even if only partial) solution involves eating fewer calories. The difficult aspect involves putting this into practice.
Step 1. Apply the Problem Separation Technique (PST). Ask yourself: do I have an emotional problem such as anxiety, stress, guilt, or depression about my practical problem of eating too many calories?
Step 2. If the answer is yes, then determine if you have a secondary disturbance: a secondary disturbance means you're disturbing yourself about disturbing yourself. To put it another way, when your primary disturbance lies in your eating, Secondary disturbance means making yourself disturbed about eating too much and about gaining too much weight. Here's how it may manifest: suppose you notice you're eating more than is desirable. Primary disturbance: You tell yourself, "I must satisfy my craving for food right now and eat, I can't stand feeling deprived." Secondary disturbance: then as you are compulsively eating you think, "I must stop eating." You have a must about a must! Disturbing yourself about your problem doesn't help and only makes you feel worse. The demand often here is something like "I must not overeat." Demanding this of yourself is unrealistic, doesn't help, and only tends to make matters worse. A more realistic view would be something like, "I prefer not to overeat but clearly there's no law of the universe stating I must not. If I do, I do, I'll try to eat less next time."
Step 3. Remind yourself that you can accept yourself and still enjoy life and be productive with the extra pounds. Then why lose the weight? Because your life can be even better, satisfying, and more healthful without carrying around the extra pounds.
Step 4. Recognize eating too much and eating unhealthy food is a choice. You can choose to eat the ice cream or choose not to. You can choose to stop eating when you've had enough or choose to continue eating. You're not compelled to eat even though it may feel like you are and have no control. If you're skeptical imagine this: you are about to feast on your favorite ice cream. Someone shows up with a gun pointed at your head and threatens: "if you eat the ice cream I'll shoot." Clearly you decide to skip the ice cream.
Step 5. Go for unconditional self-acceptance (USA). You accept yourself unconditionally whether you overeat or you stay on your diet. Refuse to rate your total self based on the rating of your behavior. Whether you diet successfully or unsuccessfully you're still the same imperfect human who acts imperfectly. You always have been and you always will be.
Step 6. Go for unconditional life acceptance (ULA). You accept your life unconditionally with its frustrations, discomforts, and difficulties.
Practice implementing the above steps regularly. It's hard, but hard doesn't mean impossible. The good news: overeating is a choice. You can choose to stay on a reasonable eating regimen or choose not to. It's up to you!
Ongoing market volatility has left many investors grasping for an investment lifeline to help them stay afloat amidst stormy economic conditions. Conventional approaches to long-term investments follow the 60/40 model (opens in new tab), which allocates 60% of your portfolio to stocks and 40% to bonds. But that strategy may no longer produce your desired results, as both asset classes have performed under their historical averages during the last two decades.
Bond yields historically had an inverse relationship with the stock market to help offset loss. But in 2022, inflation and other global economic factors caused both bonds and stocks to fall. Anyone relying on the 60/40 model is likely finding themselves in deep water. Modern market conditions require a fresh approach to long-term investing in order to properly protect your retirement savings.
When the 60/40 model was originally developed, the S&P 500 historically averaged a 12.1% (opens in new tab) return (from 1957-1999). Since 2000, the S&P 500 has averaged a 6.3% (opens in new tab) return. For anyone using the 60/40 model, 60% of their portfolio is now yielding half of its historical average.
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Current investors are faced with slower worldwide economic growth, high inflation and rising interest rates, which demands an updated investment approach.
In addition, computer technology has allowed the stock market to move at lightning speed as billions of dollars are traded in nanoseconds, leading to more volatility. When the market crashed in 2020, stocks lost a third of their value in just 33 days (opens in new tab). During the Great Depression, it took four years to see that same level of loss. Wall Street is a whole new ball game, and if you don’t adjust your investment tactics accordingly, you may find yourself trying to recover from unnecessary market losses.
To make headway in a volatile market environment, investors need to create consistency in their investment approach to prevent emotions from getting in the way of decision-making. Buying low and selling high is counterintuitive to most people. To make it effortless, look to utilize dollar-cost averaging (DCA), which has you invest equal payments monthly. This allows you to buy into the market at different levels and smooths out the risk of buying “all-in” right before a big market drop or from missing out on an eventual upswing.
Seek out low-cost investments that will prevent “fee drag” from decreasing your long-term gains. Fees from brokers, advisers and fund companies can significantly reduce the value of your retirement account. ETFs and index funds are low-cost investment options that can lower your fee drag while still providing broad exposure to the market.
If you are within 10 years of retirement, consider “sweeping the gains” from your portfolio after significant profits in the market. Put those gains into a protected investment vehicle, like an annuity, to ensure you won’t lose all of your profit if the market drops when you want to retire. It takes only one bad market year like 2008 or 2022 to delay your retirement plans, but thinking proactively can provide significant protection and allow you to keep a portion of your gains.
Portfolio hedging is a strategy to reduce investment risk and protect your portfolio against volatility and capital loss. A hedge is an investment intended to move in the opposite direction of a risky asset in your portfolio, providing inverse exposure.
Rather than being highly concentrated, you can hedge your portfolio by investing in at least a dozen different asset classes. This will prevent correlation between your assets, reducing the risk of all your investments dropping in tandem during volatile times. A broadly diversified portfolio consists of not only traditional equities, fixed-income and cash assets, but also real estate, precious metals, commodities and emerging markets.
One strategy you may want to consider is the use of options to mitigate risk in your portfolio. Options can provide protection from losing significant capital if structured properly. Of course, options are complicated and should be used only by a highly experienced investment professional, as they are leveraged instruments that can be used to increase or decrease risk in a portfolio. Everyone’s circumstances are different, and seeking a financial professional is highly advised.
The stock market is a key component of your investment strategy, but it is a volatile one, so make sure to balance it out with safer options. Deferred index annuities (opens in new tab) supply you equity exposure through the performance of index funds, like the S&P 500, while still protecting your principal and removing any downside risk.
A deferred index annuity can be customized with riders to fit your needs. For those who hope to retire within the next 10 years, consider adding a living benefit rider to provide guaranteed growth and guaranteed income for life. The protected account will grow by a guaranteed minimum rate, called the roll-up rate. Most current carriers typically offer a roll-up rate well above other fixed-income opportunities. At worst, your investment will earn this higher-than-average rate of return, but if the index fund yields greater gains than the roll-up rate, the protected account value will “lock in” the higher rate.
By providing a guaranteed income with opportunity for further growth, a deferred index annuity can bring peace of mind and certainty to your retirement income plan.
Deferred index annuities are almost like a “personal pension” that work alongside other fixed-income sources like Social Security. Choosing the right annuity for you can be complicated, so consult a financial professional to make sure your annuity plan aligns with your personal goals and values.
The only thing certain about the future is uncertainty: Market downturns are inevitable. But if you adjust your long-term investment strategy by investing consistently, hedging your portfolio and leveraging safer tools like deferred index annuities, you will be better equipped to weather the storms ahead.
When the Florida Panthers shipped top-prospect Owen Tippett back to Ontario Hockey League back in November, the former first-round pick didn't leave empty handed. From training camp to his NHL debut, the 18-year-old soaked it all in, hoping to carry a newfound professional approach into what he hopes will be his final junior campaign.
The biggest takeaway from his time in the NHL?
"How to be a pro and how to approach each day at the rink," Tippett told FloridaPanthers.com in a exact telephone interview. "It's a little different once you're up at the NHL level. I took in as much as I could and then brought it back here."
The 10th overall pick in the 2017 NHL Draft, Tippett appeared in seven games with Florida. He recorded one goal and 17 shots, including a game-high seven in his debut against Philadelphia on Oct. 17. He scored his first goal on Oct. 26 against Anaheim, but was reassigned to his OHL team in Mississauga three games after that.
When asked about the biggest differences he noticed between junior and professional hockey, Tippett singled out "the speed at which things happen" as the hardest hurdle to overcome during his transition. When there's less time to think, instincts become more important - a skill that can typically only be acquired through repetition and practice.
"It's a fast game," said Tippett, who averaged 11:07 of ice time in his first stint with the Panthers. "The way the puck moves around and how everyone knows really where to be is a lot different."
Since returning to the Steelheads, however, Tippett has been on a tear.
In 48 games, Tippett has registered 33 goals and 37 assists, helping the Steelheads clinch a playoff berth in the OHL's Eastern Conference. A natural goal scorer armed with one of the best shots in junior hockey, he has seven games with at least two goals, including a pair of hat tricks.
"Obviously, his shot is what people are drawn to when they see his quick release and how heavy his shot is," Mississauga head coach James Richmond said. "But you need to be fast to play the game now and you need to be strong. His speed and strength are also paramount."
At 6-foot-2 and 204 pounds, Tippett certainly possesses an NHL-ready frame, but it has been a noticeable change in his demeanor that makes Richmond believe his top goal-scorer will be suiting up for the Panthers sooner rather than later, saying that Tippett's time the pros helped the up-and-coming star develop thicker skin and that "not that much affects him" anymore.
"He's on the right path to being an NHL-er," Richmond said. "He's gotten bigger, stronger, faster, more mature as a person and as a hockey player. He's doing all the things young guys need to do to make it to the NHL."
After getting a taste of life in the pros, Tippett said he is more determined than ever to become a full-time player for the Panthers. He's already made a few friends on the team and has followed his future squad closely during their late-season playoff push.
Simply put: whenever Steelheads have a night off, Tippett is tuning into the Panthers.
"It's been pretty crazy," he said. "A lot of heads are turning, even here." But come next season, it could be Tippett that's turning heads in South Florida.
Listening to the comments of the Aspen City Council members at their meeting of Feb. 13 was a revelation to me and the general public of an exercise in a “do nothing” policy by our present council in public transportation options.
It’s all talk and no constructive action. That’s the way it’s been for the last 20 or more years since we demonstrated the possibilities of a light-rail option for our Roaring Fork Valley. Yes, indeed! “It’s all blow and no go!” by our current Aspen City Council.
With our present “do nothing” council, Aspen citizens, working folks, and visitors will never experience a first-class public transportation system.
Michael Cera can't help but miss his son while he's away filming.
The Superbad star, 34, revealed in an interview with the Hollywood Reporter that becoming a father has changed the way he approaches work, with family now being his highest priority.
"I think the only thing that it affects is that you just want to spend as much time with them as possible," Cera said. "So when I was 20, I would have been way happier to go off to some weird city and live in a hotel for three months. And when you have kids, you want to be with your family. And you miss them a lot."
When asked which of his TV shows or films he would introduce to his son first, he said: "He's only a year and a half old, so he hasn't seen anything yet. But I have a couple of animated movies."
Though he added that 2016's animated film Sausage Party was off the table, noting that it would come "a little later."
In March, 2022, Cera's Life & Beth costar Amy Schumer, 41, accidentally revealed during a joint Entertainment Tonight interview that he welcomed a child.
"Michael has a baby, too," Schumer said. "Is that public knowledge? I just outed him, I just outed his baby."
The Arrested Development star the confirmed the happy news, telling ET, "We're right at the beginning of it. We're doing the very basics right now."
A few days after Schumer spilled Cera's baby news, the new dad gave some details to Extra about his first child.
"He's just a little 6-month-old baby," Cera said at the time of his son with his longtime partner Nadine.
Since then Schumer has gone on to reveal to PEOPLE her best advice for parenting that she's given friends Cera and Jennifer Lawrence. "It's just about failing," says Schumer, who shares 2-year-old son Gene David with husband Chris Fischer. "It's like stand up. You mess up so bad."
"It couldn't go much worse than what we named our son initially," she teases of originally naming her son Gene Attell. "But they're doing great. They really are both just such clear, natural parents."
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Cera has mainly kept his family and relationship with Nadine, whom he reportedly married in 2018, out of the public eye.
The actor will pay a visit to the 2023 Berlin International Film Festival for the debut of the Dustin Guy Defa drama The Adults.
