Professional development costs companies

Employees don’t feel compelled to stay with an employer that provides professional development if they don’t see any career advancement opportunities, a study from the University of Iowa has found.

Professional development programs, which cost American companies hundreds of billions of dollars every year, might actually increase turnover while driving up a firm’s costs. The cost of professional training is compounded by the expense of hiring and training new employees who replace those who leave.

Read more at University of Iowa