New research offers insights into how professional development affects employee retention 

With the Great Resignation still impacting workers and employers across the country, employee retention is on the minds of HR professionals everywhere. How can companies keep employees happy? Maybe by offering better professional development opportunities. 

According to a new survey of 1,200 respondents by The Conference Board, a nonprofit research group, as many as 58% of employees would leave an organization that didn’t offer them professional development opportunities, and a whopping 96% of workers say they want to keep building their skill sets at work.

But though professional development is key to workers, not all employees have regular opportunities for growth and learning. For example, the availability of resources can be split along racial lines: some 40% of Asian employees, for instance, say they don’t have access to professional development resources, compared to 38% of Black employees, 35% of Hispanic employees, and 28% of white employees. This in spite of the fact that people of color and women are the most likely to prioritize professional development.

Employees are primarily motivated by a desire to grow personally, the survey says. But they face obstacles when trying to obtain professional development offerings, including struggling with time constraints and a dearth of resources. Many workers have even turned to free online tools for help, with 65% of respondents saying they’ve taken advantage of external professional development tools.

However, there appears to be a disconnect between business leaders and employees when it comes to professional development: Just 10% of CEOs and the C-suite consider a lack of opportunities a barrier for employees, compared to 40% of professionals/office workers.

Overall, employees were particularly interested in perks like time off of work to spend on development opportunities, as well as better access to resources from their employers.

“It is in the best interest of employers to provide all employees across their business with learning and development opportunities related to business priorities and overall growth,” says Jennifer Burnett, Principal of Human Capital at The Conference Board. “Creating a culture of learning will not only help your employees flourish but will help your company stay ahead of the rapidly changing business environment.”