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4 Reasons Why Professional Development is Crucial for Property Professionals

A woman presents an idea to her coworkers, who have gathered their chairs to face a projection screen. Text overlay says 4 Reasons Why Professional Development is Crucial for Property Professionals.

We’ve talked before about why continuous learning is so important for property professionals. But today we’re going to talk more broadly about professional development and why property professionals should pursue it.

What is professional development?

First, let’s define what exactly professional development means.

We can define professional development as training that is given to managers and people working in professions to increase their knowledge and skills.

But how exactly is that done?

It can be done through access to education and training opportunities in the workplace, through outside organization, or through watching others perform the job.

Professional development can occur within or outside the workplace. It can also come from a variety of activities, such as job shadowing, professional organizations, or internal work seminars and workshops.

Top benefits for you

A Quick Note: This part references “The Development of An Asset Management Professional” by Ivonne Bachar. This was presented at the National Property Management Association (NPMA) National Education Seminar 2019. If you’re a member of the NPMA, then you can access past presentations like this in the “Archived Materials” section of the NPMA website, under “Tools.”

So, how can professional development enhance you as a property professional? You might just discover some life-changing benefits…

Gain confidence

Professional development is beneficial for most managers, but it’s particularly vital for property managers.

That’s because property professionals are often seen as the black sheep of their organization. In some cases, other departments don’t quite understand Property’s function. They may see Property as annoying at best and unnecessary at worst.

But with the right professional development, you can gain confidence.

Once you’ve dedicated hours to studying, test-taking, and working with other property professionals, you have important insights to share and the self-assurance to express them. The first time a federal regulation rolls off your tongue, you know you’ve got this.

Earn greater respect

With professional development, you might start to notice your coworkers feel you’ve got this, too.

Have you ever struggled to get buy-in on your Next Big Idea? That’s less likely to happen when you have the expertise to back up that big idea. Upper management can be more inclined to listen to your proposals and feedback when you have additional certifications or degrees behind you.

Top benefits for your company

But professional development isn’t just good for you and your Property department. It benefits the entire organization. (So C-Suite VPs and upper management, this section is for you!)

Increases efficiency

When employees have a higher degree of education in their job function, they can operate more efficiently. Simply said, professional development means more work gets done in less time.

And that doesn’t only apply to one employee. This productivity will positively affect your entire team. The folks at Robert Half say that “Professional development can also help raise overall staff expertise when employees with vastly different backgrounds and levels of experience are encouraged to share information.”

Keeps employees happy

Employee retention is important. After all, hiring new employees can be costly. Recruiterbox states that the total cost of hiring one new employee can be as high as $5,000. And that’s not to mention the loss of efficiency that comes with workplace changes and onboarding.

So, how do you keep employees happy and avoid having to replace them?

Well, when employees know they’re being invested in, they’re more likely to stay. And when your employee starts feeling like an expert in their field, like what I described earlier in this post? You can bet they’re going to be a happy camper.

This means investing in professional development for your employees can mean investing in preventing turnover and avoiding costly hiring processes.

Conclusion

So, you know that professional development can help both your company and your career. But how exactly do you “do” professional development?

Generally, you can pursue it two ways: on your own, or through your workplace/organization.

On your own, you can attend networking events, join professional organizations (like the NPMA) or take classes. Online webinars, tutorials, and even blogs can also help you on your professional development journey.

If you have professional development opportunities through your work, you can do the things mentioned above with extra assistance. Your organization may also be able to hold its own professional development events.

In a future blog post, we’ll go more in-depth on these options for professional development.

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