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Smart Investing in Professional Development
Manage episode 407304262 series 3559361
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It can be tempting to overspend on professional development! Professional development is an important part of businesses in terms of helping hone your skills, increase productivity, and enhance the business’s bottom line. To maximize the Return On Investment (ROI) of professional development, look at what you’ll learn and how the takeaways will impact your business when choosing a course.
But here’s the thing: the best option might not be to put that money in professional development. It might actually be better (and more cost-effective) to hire an employee or contractor. Keep track of the results of any investment and avoid spending more than 5% of your salary on professional development. On the advertising front, businesses should be thinking about why they are spending money and how the purchase will be utilized. Sometimes it just makes sense to Google it on your own rather than doing someone’s paid course.
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