Bankable Knowledge: The Value of Qualifications

Bankable Knowledge: The Value of Qualifications

My colleagues and I recently came across 4 little gems of research that we thought we would share with you as together they confirm the value of qualifications in the workplace and, for experienced workers they also make a good case for the value of a Diploma as a highly valued qualification for mature experienced managers, supervisors and leaders.

On the other side of the ledger, the reports also mount a very convincing argument as to why employers should pay for and promote qualification related training in the workplace – especially for line managers, supervisors and team leaders.

Together, these reports present a very convincing case on the value of management qualifications to both the individual and their organisations and, most surprisingly, they show the high value of the diploma qualification for mature and experienced workers.

It seems it’s dollars in the bank for both the organisation and the individual.

Of course you’ve probably heard the argument that’s been running on and off for years now, that qualifications are necessary for success, and I’d have to agree with that. You can be very successful with qualifications. But this most recent body of research provides us with some tangible evidence that gives us the hard facts about the importance of qualifications, that’s impossible to argue with.

The point is that you can be at least 30% more successful with a qualification. Over a working career of say 40 or 50 years that can amount to megabucks. So, for individuals thinking about further study, qualifications provide a much better income stream and career pathway.

For employers, HR and training managers considering the ROI of whether or not to invest in qualifications for their people development, well, the research demonstrates quite clearly that, having qualified staff provides big productivity payoff’s for organisations. In fact, a whopping 90% of managers surveyed said their management qualification improved their performance at work.

 

With regard to this improved work performance, the research identified a significant impact on key behaviours and actions such as:

• improved confidence and self-awareness
• increased strategic awareness and awareness of the external environment
• more effective decision-making
• improved performance management and change management
• Managers’ motivation – (and here the report found that the fundamental aim of becoming a better manager is a more important motivation for managers embarking on qualifications than the prospect of pay increases or promotion).
• Lasting change – 85% of survey respondents say their qualification helped them make lasting changes to the way they manage and lead.
• Improved productivity –managers estimate the resulting improved productivity by 84% to 86%.
• Ripple effect – 81% of managers were able to pass on their new skills to others following their qualification and 79% improved the performance of their team, suggesting successful transfer of learning to the workplace.

 

Now the report also found:

Accreditation provides quality assurance for customers – in addition to performance improvements, the research found that employers value qualifications because they provide independent assessment of management capability. This provides a form of quality assurance to customers.
Now that’s a very impressive set of findings that directly benefit the organisation. As well as these, the report also found some further additional benefits for employers who are funding their manager’s study including:

Their ability to attract staff – it seems that funding qualifications – improves an employer’s ability to attract staff, according to the managers surveyed.
Staff retention – employers felt that managers who had taken employer-funded qualifications were more committed to the organisation. It seems managers value the investment in their development.
Creating a management community – management qualifications can deliver value by helping to build a ‘management community’ within organisations, based on the shared experience of the qualification, a common management language and common use of management tools.
And the final hugely beneficial gain that employers found in supporting their managers study is that

This supports organisational change – it seems that management qualifications can support change, both cultural and structural, by providing managers with new skills and behaviours to help steer an organisation in a new direction.

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