Many people working in the hospitality industry already know this: Employee turnover is a huge headache.

It’s no secret that hospitality jobs see high rates of turnover. In 2016, the Bureau of Labor Statistics reported that turnover in the hospitality industry topped 70 percent, while the average turnover rate for all private sector jobs was only 46 percent.

The reasons why restaurants, hotels and other tourism-focused businesses see such high turnover rates are fairly obvious. Many of these positions are seasonal or only part-time. Entry-level hospitality jobs, like waitressing and housecleaning, may not offer workers a chance to move up the ranks to a management position. Or, these types of hospitality workers might lack the skills and education to advance to the next level in the industry. Lastly, the hospitality industry can attract individuals who aren’t looking to work at one company long-term. Many hospitality workers want to travel, explore different parts of the U.S. (or the world) and get paid while doing so.

The Hidden Reason Behind Hospitality’s High Turnover Problem

With employee turnover in the hospitality industry being so high, is there anything businesses and hiring managers can do to mitigate this problem?

Sarah Salomon, director of human resources at the Sonnenalp Hotel in Vail, says that the local hospitality industry faces multiple concerns in dealing with employee turnover and improving retention rates. One of the biggest issues affecting employee turnover in the Vail Valley isn’t the hospitality industry itself: it’s housing.

“The cost of living (in the Vail Valley) is a huge challenge,” Salomon says. “We have an HR employee whose sole role is to manage employee housing. We’re constantly searching for more housing options to be able to offer something more affordable to our employees.”

Like many other resort towns, the Vail Valley is in the midst of a housing shortage for both local and seasonal workers. Salomon says that part of the problem is that there simply aren’t enough apartments for the number of people working in the area. The other issue is that the popularity of short-term rental services like VRBO and Airbnb have affected housing options for locals. Homeowners and property managers who may have rented to seasonal workers in the past now target vacationers, which can be a lucrative market in a tourism-heavy place like Vail.

Creating ‘Career Pathways’ For Team Members

Despite the hurdle of employee housing, which the local hospitality industry only has so much control over, there are a lot of other ways businesses can improve retention rates.

Salomon says that hospitality workers place a high value on maintaining a work-life balance. People who choose to work in a resort town want to take advantage of the beauty of their surroundings and participate in all the activities it offers, just like the tourists themselves.

“Being able to provide employees with a work-life balance is key to retaining them,” Salomon says. “If they’re working 80 hours a week, they’re going to think ‘What’s the point of living in a mountain community that I don’t really get to enjoy?’ Supporting a work-life balance is a really critical piece of employee retention.”

Another important aspect of solving hospitality’s high turnover problem is creating “career pathways” for employees and placing more of an emphasis on their growth and development, Salomon says. Not only do employees need to feel valued in their current role, but they also need to be encouraged to improve upon their abilities and learn new workplace skills.

The interview process is a good time to assess whether or not someone is a good candidate for a long-term future at the company, Salomon says..

“We’ve really focused on enhancing our interview process for finding the right fit off the bat, somebody who really fits into the Sonnenalp culture,” Salomon says. “We’re also constantly revising our compensation in regards to pay and benefits, making sure that we’re offering competitive compensation packages to our employees.”

The Importance Of Cross-Training And Leadership

At the Sonnenalp, Salomon says their employee retention goal for full-time, year-round staff members is 70 percent. The boutique hotel hasn’t met this goal yet, but they are taking concrete steps to keep their top talent on the payroll.

One strategy that can be effective in reducing turnover rates is cross-training, in that current employees are asked to take on new duties and responsibilities as a way to push them forward.

“Cross-training provides variety and excitement in their roles,” Salomon says. “Sometimes people just get hired into the wrong job, and when we put them in the right jobs, they become stellar employees and want to stay for years. This is something we’re hoping will have a positive impact on retention.”

Along with cross-training, Salomon says leadership is a key component of keeping the same employees for a long period of time.

“Retention is driven more by leadership than anything else,” Salomon says. “Making sure employees feel valued at their place of work, feeling like they’re getting growth and development and having a solid relationship with their manager — if they’re not getting that, there’s a ton of resorts and hotels they can find a job at elsewhere. We really try to focus on leadership and manager-to-employee relationships.”

Why Education Is Key To Keeping Employees Long-Term

One new strategy that many hospitality businesses are implementing to increase retention is having employees enroll in continuing education courses or certificate programs. Unlike other resort towns, the Vail Valley has multiple options for mid-level professionals seeking advanced training, including extension classes offered by Colorado Mountain College, which has campuses in Edwards, Leadville, Glenwood Springs and Breckenridge.

Salomon says that several of her career-level employees have enrolled in courses at Vail Centre, which offers leadership and management training that focuses on the hospitality industry specifically. Salomon has participated in a Vail Centre program herself and says that one of the unexpected benefits is the chance to learn from — and network with — other professionals working in the local hospitality industry.

“[The Vail Centre course] was very applicable to day-to-day business,” Salomon says. “What I really enjoyed about it is there were a lot of other leaders there from local hotels, and the networking opportunities were great. We were able to bounce ideas off each other and have conversations as a class. The class size was small enough so that there could be a lot of group interaction.”

Sending even a handful of employees to an advanced training program can help the entire team grow and learn. After an employee at the Sonnenalp completes an off-site certification course, Salomon says they must create a presentation highlighting the seminar’s key points and share what they gained from the class to their other team members. This strategy fosters a spirit of continuous learning within the company and provides all employees with new strategies to deal with problems and issues in the workplace.

Changing Jobs, And A Changing Hospitality Industry

While there’s been a lot of talk about how Millennial workers are more likely to job-hunt than older generations, Salomon says that a shift in workplace culture is more to blame for why it seems like people change jobs more often these days.

“I see it as a societal difference over a generational difference,” Salomon says. “None of us stay where we were born anymore, families move all over the place, and jobs change pretty frequently too. One of the appeals of the hospitality industry is the opportunity to live in so many different places. I’m not sure if younger people know where they want to settle down, or if they want to settle down in one location.”

One of the biggest downsides of a high-turnover industry is cost. A 2015 Deloitte study revealed that an average hotelier spends 45 percent of operating expenses and 33 percent of revenues on labor costs. According to these findings, 52 percent of the cost of replacing staff is productivity loss, and 14 percent is orientation and training.

However, there can be a few upsides to bringing in new employees and adding new leadership roles to a team.

“One positive thing about turnover is that you often can get a fresh perspective on something you’ve become complacent with,” Salomon says. “A lot can be gained from being in different organizations and seeing how certain organizations operate — picking up the good and bad of how they do business and bringing the good to their new company.”

Employee turnover in the hospitality sector might always be higher than other industries, but there are so many ways hotels, restaurants, and other businesses can improve retention and ensure that team members feel committed to the company for many years to come. It’s clear that leadership, education, growth and development and continued training are all key areas the hospitality industry needs to focus on to turn high turnover numbers into high retention rates.

Improving Retention Through Continuous Learning Programs

Vail Centre provides entry-level, mid-level and upper-level professionals the chance to improve their leadership and management skills through a variety of intensive certificate courses designed exclusively for the hospitality industry. Distinguished professionals from top universities — including Yale, Cornell and Duke University — are flown in to the Vail Centre campus to teach three-day or weeklong seminars that help those in leadership roles find solutions to improve employee retention rates.

For more information on Vail Centre’s upcoming programs and course listings, contact us online or email Todd Wallis at [email protected].

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Surprisingly, the nonprofit sector is one of the fastest-growing industries in the U.S.

According to recent reports published by PNP Staffing Group, the nonprofit sector has grown by 20 percent in the past 10 years, far outpacing for-profit industries, which have grown 2 to 3 percent in the past decade. Nonprofit employment has increased steadily since 2007 — and in some states, over 15 percent of the workforce is employed in the nonprofit sector.

Due to this rapid growth, many nonprofits are in high demand of working professionals with specialized skills from a wide range of backgrounds, including experience in technology, engineering, finance, healthcare, marketing and social media.

If you’ve ever wanted to make a move from the corporate world to working for a nonprofit, now is the perfect time to consider that change. According to the Bureau of Labor Statistics, workers at nonprofit establishments earn roughly $5 more per hour on average than employees at for-profit businesses. When you factor in health insurance benefits and retirement plans, nonprofit workers bring home over $7 more per hour than their for-profit counterparts.

For those seriously thinking about switching from the business world to an industry with a more philanthropic focus, here are five strong indicators that a career in the nonprofit sector is right for you:

1. You Understand The Differences Between The Corporate World And The Nonprofit Sector

You might have to take a pay cut to work at a nonprofit — While many nonprofits pay well, someone in a high-earning corporate position may have to lower their salary expectations when looking for a position at a nonprofit. Many people who choose to work for a nonprofit often decide that the non-monetary benefits outweigh the lower salary they receive, like making a difference in the world, giving back to their local communities and improving the lives of those less fortunate.

The work environment at a nonprofit can be frustrating at times — People who worked in the corporate world may find themselves annoyed with all the bureaucracy and red tape that comes with running a nonprofit. At these organizations, measuring results is different than the metrics used at a traditional company. Corporations evaluate their success by looking at sales and profits: nonprofits often assess their progress differently.

2. You’re Looking To Diversify And Take On New Challenges

Working at a nonprofit allows you to stretch and grow quickly — Many nonprofits need a bigger staff, but lack the funding to hire a large number of team members. As a result, those working at a nonprofit must wear many different hats, which can be a chance to learn new skills and become an expert in multiple areas.

Nonprofits offer an array of leadership and management opportunities — Employees at nonprofits are often able to rapidly advance up the ladder by taking on leadership and management roles, even after only a few years in the nonprofit sector. At these organizations, the workplace structure is less hierarchical. Mid-level employees work closely with the top executives, which can lead to one-on-one training and mentorship programs.

3. You Feel Passionate About Making A Difference

Believing in an organization’s mission is key to working in the nonprofit industry — Knowing that the effort you put in every day does make an impact is one of the main reasons people choose to work at a nonprofit. In addition to passion, these organizations are often looking for people with “soft skills,” as in those who demonstrate a self-starter attitude, can make a long-term commitment and display genuine authenticity in their work lives.

A nonprofit career can give you greater job satisfaction — For those employed in the nonprofit sector, working for the organization makes work meaningful and purposeful, which can be hard to find at a corporate job. Employee engagement is often the number one thing companies struggle with. Nonprofit work helps professionals stay motivated and focus on the organization’s mission over small setbacks or daily workplace annoyances.

4. You Have The Business Skills Many Nonprofits Need Right Now

Nonprofits welcome employees with a business or corporate background — Many of the skills you acquire when working at a for-profit company are easily transferable to the nonprofit sector. These organizations are always looking for candidates with leadership and management skills, experience working in operations and a strong knowledge of technology and social media.

Organizations are increasingly looking for entrepreneurs — The fast-paced environment of a startup can mirror the challenges and obstacles that nonprofits also face, such as constantly trying to acquire new funding, finding new solutions to old problems, and having team members take on more than one role or responsibility. Organizations are now working to encourage an entrepreneurial spirit at their nonprofit as a way to attract more ambitious team members to their ranks.

5. You Enjoy Working In A Creative and Learning-Focused Environment

Nonprofits allow employees to flex their creative muscle — Organizations are often working with limited budgets and big dreams to accomplish, which gives team members the ability to get creative and come up with innovative strategies to fulfill their mission. Many nonprofits have discovered new ways to tackle ongoing issues, like the Hollaback! Organization, which created a blog and a mobile app to fight street harassment that now operates in 62 cities and 25 countries.

A nonprofit career is great for lifelong learners — More and more businesses are making a move from a traditional company to a learning organization, and this includes nonprofits. Recent surveys have revealed that roughly 48 percent of nonprofits offer some level of tuition reimbursement, which encourages employees to further their education and never stop learning, even while on the job.

Get Ahead In The Nonprofit Sector

Vail Centre offers comprehensive educational opportunities for those currently employed in the nonprofit realm. Distinguished professors from top-rated colleges and universities are flown into the Vail Centre campus to teach three-day or weeklong seminar courses that target the hospitality industry and help individuals advance their leadership skills.

Our upcoming Nonprofit Management Certificate Program, offered by Duke University, will run June 25-30 and is open to nonprofit leaders with 2+ years of management experience. For more information, register here or contact Todd Wallis at [email protected].

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When they were younger, the vast majority of today’s working professionals probably believed they needed a college degree to be successful.

Depending on their chosen career path, many people were also told that working in their field requires a master’s or doctorate degree, or that obtaining one will give them an advantage over other applicants.

It’s true that many jobs and professions require at least a bachelor’s degree to even be considered for a position. And yet, the value of higher education is changing rapidly, leaving some to wonder if the cost of an advanced degree program is worth the debt many students accrue while studying at a top-rated college or university.

For Many, Higher Education Is An Investment In The Future

According to the National Association of Student Financial Aid Administrators, pursuing higher education is, on average, worth the investment, even when one has to take out student loans. Several studies have shown that Americans with bachelor’s degrees earn about $30,000 more per year on average than those with only a high school education. Americans with bachelor’s degrees are also more likely to have health insurance through their employer, earn more over their lifetime and are more likely to report their health being good or excellent than people with a high school diploma.

Many who have obtained bachelor’s degrees agree with these statistics. A 2015 Gallup survey revealed that 52 percent of alumni at public universities believe that college was worth the cost of tuition. However, only 38 percent of recent graduates — those who completed their degree between 2006 and 2015 — said that they thought college was worth the cost. The survey also found that graduates with higher rates of undergraduate student loan debt were less likely to report that college was worth the investment.

Why Attitudes Toward Higher Education Are Changing

If research shows that getting a degree does have many long-term career and financial benefits, why do so many graduates — especially Millennials — feel otherwise?

Some recent graduates feel that the student loan debt they accrued while in college places a heavy burden on their finances in the early stages of their career. In certain instances, college graduates have trouble pursuing a master’s degree or Ph.D. program because of their high student loan debt. Americans with large amounts of student loans might delay buying a home, or struggle with the down payment, due to having a poor or damaged credit rating. Surprisingly, the majority of people who have difficulty paying back their student loans have relatively small amounts of debt — half owe less than $16,400.

It’s easy to look at the increasing amount of student loan debt in America — which now totals $1.3 trillion — and conclude that the cost of college tuition has become too expensive and isn’t worth it for many individuals.

However, the return on investment for a college education varies widely depending on a plethora of demographic factors. Students who come from low-income families might have a harder time completing their degrees and paying back their loans. Those who obtain a degree in highly sought-after industries, like technology and engineering, might have an easier time paying back their student loans quickly. Entry-level salaries in these fields can start at upwards of $60,000 per year or even $100,000 annually.

Gambling on a Graduate Degree or MBA

For working professionals, the decision to pursue a master’s degree can be a tricky one. The average cost of a graduate degree program is nearly $30,000 per year at public universities and almost $40,000 at private colleges. However, according to the U.S. Census Bureau, someone with a master’s degree typically earns $400,000 more over their lifetime than someone with a bachelor’s degree.

Other factors can come into play for mid-level employees who are seeking more educational opportunities related to their field or industry. Some professionals can’t take the time off work to enroll in a graduate degree program, while others may have parenting or family obligations that prevent them from pursuing a full-time course of study. For some people getting their MBA, the hardest part isn’t the tuition or fees, it’s the high-paying job they have to give up in order to complete their business degree program.

The Rise in Popularity of Non-Degree Certificate Programs

Despite the many benefits of higher education and the increased earning potential many obtain after completing their degree, there’s still a sense that the cost of these programs are simply just too high. Some people feel that it’s hard to determine exactly how their degree will help them advance in your career, and taking out a large student loan can feel like a big financial risk — even if you’re obtaining a graduate degree in a very in-demand industry, like healthcare.

To combat these issues, colleges and universities have begun to expand their options for career-level professionals who are already in the workforce. Graduate certificate programs are now growing in popularity. In the 2013-’14 academic year, nearly 65,000 graduate certificates were awarded in the U.S.

Short-course, non-degree or graduate certificate programs allow professionals to learn new skills, grow in their careers and further their post-undergraduate education without having to apply for a master’s degree. Individuals who participate in a certificate program offered by a college or university are better able to balance their studies with their job. These certificate programs are typically far less costly than obtaining a graduate degree, which is one of the reasons more people are choosing this option over getting a master’s degree.

Educational Opportunities Designed for Working Professionals

The reasons why more working professionals are signing up for certificate programs vary, but many are doing so to improve their career prospects and learn new leadership skills. As companies and businesses demand that workers adapt quickly to changes in their industry, employees are starting to realize they must grow their knowledge and seek out new educational opportunities in order to boost their earning potential and stay relevant in today’s workforce.

Vail Centre is a leader in providing entry-level, mid-career and executive-level professionals with certificate programs and accredited courses that help individuals acquire new leadership and management skills in both the hospitality industry and the nonprofit sector. At Vail Centre, esteemed professors from some of the best colleges and universities in the country — including Yale University, Cornell University and Duke University — are flown in to teach three-day or weeklong seminar courses right here on the Vail campus.

Upcoming certificate programs for Summer 2017 include a Nonprofit Management Intensive Track Program offered by Duke University, which will be held June 25-30. For more information on Vail Centre’s summer course offerings, contact us or email Todd Wallis at

The post Analyzing The Value Of Higher Education In Today’s Workplace appeared first on Vail Centre.

As a company grows and changes, the conventional wisdom is that businesses will need to hire more team members with the right skills and experience to fill these new positions.

This process is not as easy as it sounds. Even if a company is generating revenue and increasing profits, there might not be a large budget for payroll. Many businesses want a small staff of dedicated employees, rather than a bloated workforce that can be hard to manage. Despite a slew of job search websites, recruitment firms and social media campaigns aimed at attracting the top candidates for a position, it’s still difficult for employers to hire the right person who will be a good fit for both the job and the company.

The truth is, finding the perfect, qualified applicant for any one role is a huge challenge for many companies and businesses. As several industries become increasingly automated — including the tech and hospitality sectors — even career-level professionals with years of experience have trouble keeping up with rapid changes in the workforce.

Key Elements of a Learning Organization

Rather than focusing on hiring and recruiting, many companies are now putting more effort toward training and educational opportunities for their current employees. Industry leaders are now beginning to understand the necessity of these programs and how they help companies take their business to the next level.

Forward-thinking companies realize that employee growth and development is an important investment in their own future. The majority of younger workers, particularly Millennials, want to work for companies that place an emphasis on skill building and allow employees to gain leadership and management experience.

In order to do this, businesses need to create a culture of learning within the company.

3 Important Steps Towards a Learning Organization

1. Actively think about how your organization works and develop new ways of working — Companies that implement critical thinking strategies are able to take a step back and consider how exactly their organization functions, and how they could improve its efficiency and effectiveness.

2. Put an effort towards employee training, development and advancement — Companies cannot create a culture of learning without placing a major focus on helping employees acquire new skills and grow their knowledge of leadership, business and marketing tactics.

3. Implement programs that foster a spirit of continuing education and lifelong learning — Most employers want to build a team that is constantly growing and improving, but not everyone follows through on this. Companies that make the shift from a traditional business culture to a learning organization often have a plan for how they’re going to encourage employees to constantly push themselves forward and make learning an instrumental part of the workplace.

Implementing a Culture of Learning in Your Organization

There are many ways companies can instill a culture of learning and evolve into a learning organization. Here are 4 that can get you started:

1. Develop formal and informal programs focused on learning — Many business leaders and managers believe that employees learn “on the job.” While this is true in a sense, the assumption that all employees will acquire the skills they need just by working at a company isn’t the best way to approach on-the-job training. Informal learning programs that integrate coaching, on-demand training, and performance support tools have been shown to outperform formal training programs.

2. Reward expertise and recognize learning as a skill — Companies should highlight the efforts of team members who are consistently growing and learning in their roles. Organizations tend to think of employee advancement in lateral terms, like by promoting an entry-level worker to a management position. Leaders also need to view advancement as it applies to learning and find ways to reward employees who are challenging themselves and acquiring new skills.

3. Incorporate learning in all aspects of the workplace — Learning doesn’t just happen during set times or during formal training sessions. Department meetings can be an opportunity to talk about how to improve on business plans and initiatives, brainstorm new solutions and discuss alternative ways of approaching problems. During those meetings, company leaders should explain how they came to certain conclusions and share their knowledge and expertise on a particular subject.

4. Invent new and out-of-the-box learning strategies for team members — Many companies have developed unique ways to help employees participate in ongoing learning initiatives. Some organizations started learning-focused book clubs, which allows employees to gain more knowledge and insight from thought leaders in their industry, propels innovation and can even help team members bond over shared interests and improve employee relations.

Companies Who Have Adopted a ‘Learning Culture’ Mindset

Many companies — big and small — have already transitioned from doing business as usual to becoming an organization with a strong culture of learning. Corporations like American Express have designed their own learning and development programs aimed at teaching employees how to maximize learning while engaged in an activity or skills training. American Express also created “learning paths” for its employees that include workshops, peer learning and on-the-job training.

Optoro, a tech company that works with manufacturers and retailers, encourages its employees to participate in conferences, professional organizations, and learning programs as a way to enforce continuous learning and development. The company even gives its employees an annual professional development budget, which can be used for certificate programs, leadership training, seminars or other types of work-related education courses.

According to research compiled by CEB Inc., only one in 10 companies have a true learning culture, which is defined by supporting an open mindset, an independent quest for knowledge and shared learning directed toward the mission and goals of the organization. In 2013, U.S. organizations spent an average of $1,208 per employee on training and development. However, business experts have determined that companies spend at least 11 percent more on training per person than is cost-effective.

Even companies that allocate the funds for employee development need to make sure that these resources are being spent wisely and effectively.

Certificate Programs Focused on Learning and Development

Helping organizations and businesses create a culture of learning is one of the goals of Vail Centre, a leader in education and development for career and executive-level professionals. Professors from esteemed colleges and universities — including Yale University, Duke University and Cornell University — are flown in directly to the Vail Centre campus to teach three-day or week-long seminar courses focused on leadership and management in the hospitality industry. These accredited certificate programs give organizations and their team members the skills, tools and resources they need to succeed in today’s business culture.

For more information on Vail Centre’s upcoming course schedule, contact us or email Todd Wallis at [email protected].

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Companies talk about investing in their businesses all the time. Smart companies should also think about how they can invest in their employees — and not just by increasing retention rates.

In addition to feeling valued and appreciated at work, research has shown that employees want to work for companies that foster and encourage their professional development. This is especially true for Millennials, who are more likely than older generations to seek out career advancement opportunities over job satisfaction. When looking for new jobs, workers often cite lack of career prospects, along with low pay and benefits, as one of the main reasons why they left their previous position. The vast majority of entry-level, mid-level and even executive-level professionals want to be challenged in their current roles and learn new skills that will help them move up to the next phase of their careers.

Creating a workplace where employees are not only welcome to pursue professional development, but are pushed to grow and improve their leadership abilities, can help businesses boost company loyalty and attract more qualified candidates.

There are several ways companies can invest in their employee’s career growth:

1. Make Career Advancement An Ongoing Conversation In The Workplace

One of the first things companies can do to implement a workplace culture focused on development is to encourage employees to have open conversations about their goals, strengths, weaknesses and skill set. It’s common for hiring managers to ask employees “Where do you see yourself in five years?” when applying to work at a company, but those in charge can do so much more than that.

Instead of only asking employees about their career insights during an annual review, companies should let their staff know that it’s okay to talk about wanting to move up the ladder or gain more responsibility in their current position. Rather than giving staff members the impression that they have to wait several years to obtain management positions, support those who want to learn more leadership skills and find positive ways to give feedback on how someone can improve on certain tasks and abilities pertaining to their job. Companies should always be on the lookout for entry-level employees who have the potential to be the future leaders of their business.

2. Expand Training Programs To Include Career Development

Most companies have training programs for new hires, but few of these programs include continuous education courses and development seminars designed for current employees and mid-level professionals. Some forward-thinking companies, like Apple, have made a serious investment in in-house education programs for its employees. These comprehensive programs help Apple employees — and the company itself — stay relevant in a super-competitive industry that’s also becoming increasingly automated.

While some businesses may not have the funds or resources to build its own career development program, there are many ways companies can add or improve upon its current employee training offerings. One easy way to do this is to bring in motivational speakers or industry experts to talk to employees about how they achieved success in their careers. While team-building days and off-site team-building activities are a popular trend in the business world, there are other types of group outings that may prove more beneficial in terms of professional development. Some managers take their employees to networking events as a way to teach them how to build confidence and initiate conversations with strangers.

3. Help Employees Climb The ‘Career Lattice,’ Not The Corporate Ladder

The concept of the “career lattice” is that career advancement feels more like scaling a boulder or rock wall and less like taking a direct step up to the next higher-paying job or getting a promotion. When looking back on one’s own career growth, it’s easy to see the many twists, turns, surprises and challenges you faced along the way to get where you are in your field.

In order to build the skills and talents necessary for long-lasting career success, employees need to focus on making lateral moves, which include acquiring more knowledge about their particular specialty, learning about new advancements in their field and working on becoming better, faster and more efficient at work. The “career lattice” approach encourages employees to hone their skills and also gain a broader understanding of how companies thrive and function. Companies can place more emphasis on ascending the “career lattice” over the corporate ladder by rewarding employees with professional advancement opportunities instead of — or in addition to — bonuses or salary increases.

4. Encourage Employees To Pursue Higher Education Courses or Programs

According to a recent study released by Destiny Solutions, only 9 percent of companies have an established partnership with a college or university to provide training and development for their employees. While over 70 percent of employers feel their team members need to engage in continuous learning to keep up with their current job, few companies provide the necessary funds or resources for employees who have a strong desire to advance their education or pursue professional development courses.

Continuing education courses are becoming increasingly popular for mid-level professionals. Colleges and universities are starting to offer more short-term courses that target adult learners looking to gain more skills and business acumen in order to progress in their careers. These classes and seminars are often designed with the working professional in mind and target specific industries, including hospitality, technology and finance.

Companies can push employees to enroll in these short-course higher education programs by offering incentives for those who do, and by stressing the importance of lifelong learning in the workplace.

5. Build A Team Of Leaders Within Your Own Company

In the near future, employees won’t just want the company they work for to offer advancement opportunities, they’ll expect it. According to research conducted by Deloitte University Press, more than two-thirds of Millennials feel that it’s management’s responsibility to provide them with accelerated growth opportunities.

Study after study has shown that Millennials place a strong emphasis on engagement and want to feel valued at their jobs. Younger generations want to know that the company they work for has a keen interest in investing in both the growth of the business and their employees. One of the best ways to do this is by building a team of leaders within your organization, rather than hiring managers and executive-level employees from outside the company every time there’s an open position.

If companies let entry-level employees know from day one that they’re looking for people to become the future leaders of the organization, many of these team members will rise to the challenge and work harder to develop their leadership skills.

Career Development Opportunities Offered At Vail Centre

Vail Centre provides entry-level employees, mid-career professionals, and top-level executives the opportunity to pursue professional development by offering accredited certificate programs taught by Ivy League professors and experts in the hospitality industry. Distinguished professors from Yale University, Duke University, and Cornell University are flown into the Vail Centre campus to teach three-day or week-long seminar courses focused on nonprofit management, leadership and entrepreneurship.

Upcoming courses offered at Vail Centre include the Duke University Nonprofit Management Certificate Program, which will give attendees the skills and tools one needs to become a leader in today’s nonprofit world. The Duke University Nonprofit Management course will run June 25-30 and attendees can register here, or by contacting Todd Wallis at [email protected].

The post 5 Ways Forward-Thinking Companies Can Invest In Their Employees’ Career Growth appeared first on Vail Centre.

If you’ve ever found yourself looking to take the next step in your career, you might have found yourself on the receiving end of two seemingly contradictory pieces of advice. Find your niche, some people say, while others will tell you to diversify your skill set. So which is it? Should you concentrate on improving your current skill set, or focus more on branching out and acquiring new skills?

The Benefits of Having a Specific Skill Set vs. More Adaptive Abilities

Our current corporate climate doesn’t really provide a definitive answer to this conundrum. Many companies want to hire employees with the exact skill set they need for a specific job. However, these same companies need workers who have the ability to adapt quickly to a constantly changing business landscape.

Less than a decade ago, few companies would even think about hiring a “social media architect,” as in someone who helps brands engage with customers on social media and use multiple social media networks to attract new audiences. Now, it’s common for brands to employ a social media manager, strategist or expert on staff whose sole job is handling the company’s many social media accounts.

On the one hand, it seems smart for a company to hire someone with a strong social media background with experience building audiences on platforms like Facebook, Instagram and Snapchat. On the other hand, it might be beneficial for a company to hire someone with both social media and traditional marketing skills who can work on many different types of advertising campaigns.

The Need for Both Specialists and Generalists

Some well-known entrepreneurs think that it’s best for companies to have both specialists and generalists on their team. Jon Stein, founder of Betterment, a financial services startup, strongly feels that the only way companies “thrive” is by having both types of employees.

“Many of my hires at Betterment are not just financial experts,” Stein wrote in an essay for Fast Company. “Many come from financial backgrounds but I want to hear the insights of well-rounded men and women who could make suggestions based on how people handled their money in real life, not recommendations from experts who believe they know how people should manage their funds.”

Successful companies need people with a wealth of expertise in one specific area, as well as team members who have a broad knowledge and understanding of many subjects.

Assessing Your Own Limited Skills and Broad Talents

For employees, it’s possible to apply this concept of specialization and diversification to your own skill set. Mid-level professionals should assess their own abilities and see where they stack up in these two areas.

Even those who have already reached certain pinnacles in their career should ask themselves these questions:

How can I learn more about what I already know?
If you already have a specialty in a certain area, it’s still important to research advances in your field and know about new technologies being introduced. Also, there are always ways you can be better, faster or more efficient at your job.

What new skills do I need to acquire to advance in my career?  
There’s not necessarily a right or wrong way to diversify your skill set. Someone with a background primarily in social media might want to consider learning more about traditional advertising tactics, while a career copywriter might decide to study social media campaigns and analyze why they’re successful on different platforms.

How can I become a leader in my specialty or expand my management abilities?
Diversification and specialization don’t just apply to individual job functions or roles. Executives and managers need to look at how they can both grow in their current position and enhance their leadership skills across different aspects of their business.

The Rise of Hyperspecialization — and its Potential Downside for Workers

In many industries, specialization — or in some cases hyperspecialization — is the wave of the future. By assigning tasks to workers who can do one specific thing really well, quality improves and products can be built much faster than in the past.

For employees, this current era of specialized job functions can have a downside. Some skills that one has worked hard to master might become irrelevant or outdated in the near future. Also, being really good in one’s current position may result in getting sidelined for management or leadership roles. Managers might not want to promote someone who only fulfills a specific need at their company, especially if they think it could be hard to find a replacement for them.

While there are pros and cons to a hyper-specialized workforce, it’s always beneficial to develop your skills and strive to always grow and learn, both in and outside of the workplace. Some of the most desired skills that companies are looking for right now may surprise you. According to data uncovered by LinkedIn in 2015, some of the top in-demand job skills include marketing campaign management, economics and corporate law and governance. Mid-level professionals who want to learn more about finance, corporate law or marketing might find themselves highly sought-after if they pursue an advanced degree or a continuing education program in these fields.

Higher Education Opportunities to Diversify and Increase Your Expertise

As many industries try to force employees into tight boxes to reduce their bottom line, it’s imperative that professionals amp up their skill set and frequently seek out new educational opportunities. Many companies want to hire candidates with a specialized skill set, but they’re also looking for people with strong leadership abilities.

Vail Centre offers professional development seminars and certificate programs that provide mid-career professionals the opportunity to grow their knowledge of the hospitality industry and acquire new management and leadership skills. Distinguished professors from top-level universities — including Yale, Cornell and Duke University — are flown into the Vail Centre campus to teach three-day or week-long seminar courses. Vail Centre aims to be a leader in professional development and higher education for business purposes, tailoring courses to future and current business leaders and giving them expert tools and training that target the hospitality industry.

For more information on Vail Centre’s upcoming course schedule or to register for a program, contact Todd Wallis at [email protected].

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