How to Get Sponsored by Your Company for Professional Development
Investing in your personal and professional growth often takes a back seat when other urgent priorities pop up. When programs have associated fees, this can seem like yet another hurdle you have to overcome.
But something to consider is that often employers are willing to jump in and foot the bill. If you’re unsure of how to approach your employer to sponsor your participation, this post can help guide you to a yes.
We’ve put together a handy template that you can use specifically for the Financial Feminist Investing Lab.
“Organizations that have made a strategic investment in employee development report 11% greater profitability and are twice as likely to retain their employees.”
Source: Gallup
More on the importance of this Gallup stat: 11% greater profitability is an incredible number, the fact that organizations are twice as likely to retain their employees by investing in professional development is enormous.
Additionally, here are a few quick insights and tips that should make it a lot easier for you to make your case regardless of which program you want to sign up for.
Employee retention will always be a big priority for companies. The amount of money and time they spend training employees is just one aspect of it. Employees gain an immeasurable amount of institutional knowledge that can be very detrimental to organizational growth and morale if they walk out the door.
A report by The Execu|Search Group found that 86% of professionals said that they would change jobs if a new company offered them more opportunities for professional development.
While you don’t want to sound threatening to your employer, it’s good information to know when you’re walking in. Your employer wants to see you grow and retain you—that puts you in the driver's seat during this conversation.
Our template is an excellent resource to get you started if you’re communicating your request via email. However, if you are going to have this conversation in-person, here are 3 key things you’ll want to do before you sit down to discuss the opportunity:
Have all the program details prepared. This may seem obvious, but having the dates, times, and cost of the program are crucial details to have at the ready. If your employer agrees that it’s a good idea to take the course, you’ll have everything you need to get them to sign off during your conversation. If the course takes place during working hours, look at the time that it takes place and make sure you have a contingency plan for when you’ll be in the session.
Ensure you can articulate the value of gaining this knowledge. Saying “I really want to take this course!” isn’t enough. Benefits like improved negotiation skills, more confidence when speaking, improved organizational abilities are all things your employer will be able to get behind.
Know your audience. If you have a supervisor that doesn’t make decisions quickly, don’t expect them to in this instance. Introduce the idea during one conversation, then again, then again. Sometimes it takes going through the decision making process more slowly to solidify the benefits in a person’s mind.
Hopefully these tips and our sponsorship request template will help you get the green light for the training that you want to sign up for. Developing your skills and expanding your knowledge can be game changing for ensuring you’re in control of your career.
