Continual Professional Development (CPD) - Headwind or Tailwind?

As the various winds of change sweep through 2018, organisations are preparing themselves for all manner of adjustments, improvements and new processes.

The holistic nature of many of these changes requires not only an organisational transformation but also a genuine, personal and professional requirement to ensure competency is maintained and in check; in relation to your duty to the customer/client and as a professional operating in a regulated environment.

With the introduction of the IDD; there will be a mandatory CPD requirement of fifteen hours for all who sell, transact in or perform contracts with regards to insurance; alongside a T&C requirement across eight key areas as prescribed by the FCA.

More individuals than ever before, across the general insurance sector, will be subject to scrutiny and the expectation that they have a demonstrable and certified record that permits them to operate in their given role. This does not mean that the cyclone of CPD is about to destroy your world. Quite the opposite. It is actually a very positive step in ensuring firms allow time for staff to undertake essential learning and development.

CPD (continual professional development) was once an indifferent pursuit reserved for those in higher-tier management and mainly reserved for those seeking accreditation from a sector-specific association/awarding body.

Today, personal development is expected by all, and it is refreshing to see CPD now intended to capture more and more members of a competitive and fiercely entrepreneurial market.

What this element of the IDD presents, is a genuinely great impetus for firms to ensure their personnel are given the freedom to learn.

When staff are knowledgeable and better skilled - the payoff for the organisation and the learner will be evident.

“A profitable broker is not a marker of quality, but a quality broker will always be profitable.” Anon

And yet, while CPD will become mandatory, how you approach continual professional development is still your choice, both as a firm and as a member of the team.

For some it will always be a headwind; just another regulatory requirement and hoop to jump through.

But for others, they will realise that CPD is about enhancing skills, maintaining competency, developing their professional ability and building careers.

For these people, CPD is very much a tailwind, driving them forwards professionally.

About the author

Stu has over 20 years of experience in overseas operations, local authority and financial services. He specialises in sales, service and learning and development. At RWA, Stu was responsible for e-Learning solutions until he left the company in 2020.

Get RWA Insight In Your Inbox

Regular business news and commentary delivered direct to your inbox each week. Sign up here