27 Jun, 2018
How Does CPD Accreditation Improve my Business Profitability?
Today’s businesses face a lot more competition than they used to. Therefore, if they want to succeed, they need to find ways to help them outshine their competitors. One way to do this is to take advantage of CPD accreditation.
Continued Professional Development (CPD) has become extremely important to both employers and their employees. The question is, how could it improve your business profitability?
Benefits of CPD
- Ensures standards remain high in the workplace
- Help to achieve your business goals
- Sets you apart from your competition
- CPD accreditation leads to in-house learning
- Helps with people management skills
- Accredited employees lead to higher quality performance
- Peace of mind
CPD can deliver many benefits to both your business and its employees. One of the main advantages it provides is that it ensures standards remain high. This sets your company apart from its competitors as a leading brand within the industry. It shows a high level of professionalism, giving both clients and employees the impression you’re a serious business. This could help you to win quite a few new contracts! When you become CPD accredited, your in-house learning and training will be independently assessed to see where any improvements could be made.
CPD accreditation is especially beneficial for businesses offering training, events and learning activities. Having your courses accredited gives them much more authority and provides peace of mind to those undertaking the training.
A great case study showcasing business profitability is Basis Training and Education CIC. A current CPD member, who provide provide training, consultancy and education on social issues. Basis Training and Education CIC are connected to a network of charitable projects focusing on Child Sexual Exploitation and Sex Work, all the funds raised through our training is reinvested back into their charity partners. They take the specialist knowledge and practice from their frontline work and share this with professionals across the UK.
We have won training contracts on the basis that we have CPD accreditation. It highlights to customers that we take their learning seriously as we invest in an independent assessment of our training. Helped Basis to create higher quality training as we have learnt ways to tighten up our learning objectives etc.
Charlotte Nutland, Basis Training and Education CIC.
Continuing your professional development
Continuing your professional development will also help you as an employer. It really helps to develop your skills and knowledge within the field, ensuring you continue to provide a high standard of service to your clients and customers, as highlighted in the above example. It also helps with people management skills, which will come in useful as a business owner.
For your employees, CPD enables them to develop their skills, boosting their confidence within their job role. It also encourages them to stay with the company, rather than seeking to join your competition for more opportunities.
You’ll also find that CPD can help you to achieve your business goals. The structured training and learning provided in CPD, really aids in reaching your goals, as you retain more employees and ensure your workforce continually have the latest skills and knowledge to push the business forward. Other benefits of CPD for businesses, include the fact it gives you better organisational flexibility and you’ll be able to identify potential skill gaps. Identifying where the business could be improved and adding new training opportunities to fill the gap will have significant benefits for your business.
How does CPD accreditation improve my business profitability?
CPD accreditation improves business profitability in numerous ways. Firstly, it sets you apart from your competitors. This means clients and potential employees are going to be more likely to choose you than your competition. Having CPD accreditation also makes it easier to find the right candidates for job positions within the company. You’ll attract a higher level of candidates, bringing in some of the best talent within the industry. The more skilled your employees are, the more profits you’re going to earn. As mentioned earlier, CPD also helps with employee retention. As you’ll lose fewer workers, you won’t be faced with the costs of hiring and training new employees. So, this is another way it improves your profitability.
Once you’re accredited, your business will be listed online as an official CPD accredited employer. This is going to look great to potential employees and clients. The authority behind the CPD accreditation can really boost business profitability, enabling you to charge more for the accreditation status.
Overall, becoming CPD accredited can really help to boost your business profitability. It may seem like an unnecessary expense, but the cost of the accreditation will be paid back in so many ways in the long-term. So, if you’re looking to boost your profits and retain more employees, CPD accreditation can help.