No one can deny the benefits of networking; you hear about it all the time. Popular websites like LinkedIn exist to facilitate networking, and if you open any professional magazine, there is bound to be an article telling you how important it is.
Now, stop and consider how many times have you heard someone speak of the benefits of continuing professional development ("CPD")? Too often, accountants approach CPD with the attitude that it is a unavoidable, distasteful necessity.
Perhaps you feel you already know everything you need to, or that taking a course will take away valuable time from your other responsibilities. But today more than ever before, professional development is one of the most valuable parts of your long-term career plans. Consider all the important benefits you get from continually developing your skills:
1) Refresh Unused Skills
While you may feel that you and your team are up to date on a particular skill set, a periodic refresher can be very beneficial. If a skill is not used frequently, it becomes rusty and is not as effective when needed.
Was your last training session years ago? Research tells us your abilities have likely degraded significantly. How much? In one study of CPR training for medical professionals, the researchers found that degradation due to non-use approached 100%. "By 12 months after training the scores in both groups were similar to the pre-training scores".
2) Get Prepared for Change
No matter the field you participate in, your business environment will change:
- staff change
- business processes change,
- software and hardware you use are likely updated with new features and capabilities each and every year. Over the larger time frame, these technological changes can be dramatic.
- There are always new pronouncements in your reporting standards (PSAB, GASBE, IFRS etc) and
- Your own job could change!
Education is essential to take advantage or be prepared for all the above change agents.
3) Connect with Other Professionals
Remember that bit we mentioned about networking earlier? Professional development provides a special kind of networking opportunity. Not only will you meet new professionals, you immediately have a topic for discussion - the course material!
If the course is online, networking can be an even stronger benefit. After all, you could be connecting with professional from around the country or even around the globe. Now the caveat here is "does your online course emphasize networking"? Look to see if you can get contact details of other attendees and if sharing and chatting is encouraged during and after the session.
4) Break Out of Old Ways of Thinking
You work side by side with your team every day. As a group, you are exposed to the same opinions and perspectives day in and day out. Professional development opportunities expose you and your team to new voices, fresh approaches and new perspectives. Do you have a problem that you're stuck on, where you have been spinning your wheels trying to solve it without success? Relevant CPD can be the catalyst to bring fresh ideas and practices to your organization and take your performance to the next level.
5) Motivate your team
Nothing drains enthusiasm from a team like the same-old, daily grind. Knowing that some repetitive (let's say annual) task is coming and that it will be just as horrible this year as it was last year can really demotivate and demoralize the troops.
You can help! Continuing education is a wonderful opportunity to show initiative and bring up-to-date information and current industry best-practices back into the fold. Be the leader in your team who comes back with new ideas, approaches and plans.
6) Meet your Professional Requirements
This is for you pessimists: You have to take some CPD don't you? Chartered Professional Accountants (CPA), the Government Finance Officers (GFOA), the Institute of Internal Auditors (IIA) and just about every other profession you care to name require their professionals to invest in on-going education. They may call it Continuing Professional Development (CPD) or Continuing Professional Education (CPE) but they mean the same thing; you are required to participate in a certain number of education hours. When selecting courses, be sure the course meets your verifiable CPD requirements and not only will you be furthering a skill, but you'll be meeting an association requirement. We provide an overview of CPA requirements in a previous blog, For Canadian CPAs, what qualifies as CPD?
A couple quick tips to ensure you get the most from your CPD:
Consider selecting the course type and format that best suits your organizational and individual employee's needs. For example:- Is travel necessary or is there a local or online solution?
- Will the session occur shortly before the need to use the skill? If so, this will minimize any memory lapses.
- Have you come prepared with questions to ensure you get the most out of your course?
To get more tips, download a no-charge copy of "Maximize the Return from Your Online Training Investment" where we share 20 tips to prepare you for a better online education.
