In current times with the cost of everything rising, it can feel like an impossible task to ask your organisation to fund your CIPS Training. Perhaps this is made worse by the fact that you feel uncomfortable asking for things. However just because we might find something difficult, we shouldn’t avoid it.
Investing in your professional development through CIPS qualifications can significantly enhance your career in procurement and supply chain management. A survey by the Chartered Institute of Procurement & Supply (CIPS) and Hays found that 63% of employers prefer hiring MCIPS-qualified candidates. This preference stems from the advanced skills and expertise these professionals bring to their roles, which often translate into cost savings and improved procurement efficiencies for their employers.
Additionally, the value of having MCIPS-qualified professionals is reflected in their higher earning potential. The CIPS/Hays salary guide consistently shows that MCIPS professionals earn significantly more than their non-qualified counterparts, highlighting the financial and professional value attributed to this qualification within the industry.
However, securing funding from your organisation for this training requires a strategic approach.
Here are some tips to help you convince your employer to fund your CIPS qualifications:
1. Highlight the Benefits to the Organisation
Emphasise how your training will directly benefit your employer. CIPS qualifications equip professionals with the skills to enhance procurement processes, reduce costs, and improve efficiency. Share case studies or statistics that show how CIPS-certified professionals have positively impacted their organisations. For instance, companies with CIPS-trained staff have seen significant improvements in efficiency and reductions in staff turnover.
2. Align with Organisational Goals
Frame your request in the context of your organisation’s strategic goals. Demonstrate how your enhanced skills will contribute to achieving these objectives. For example, if cost reduction is a priority, explain how advanced procurement techniques learned through CIPS can lead to substantial savings.
3. Present a Cost-Benefit Analysis
Prepare a detailed cost-benefit analysis. Include the costs of the training program, study materials, and any necessary travel or accommodation expenses. Then, outline the potential return on investment (ROI), such as cost savings, improved supplier relationships, and increased efficiency. This analysis will help your employer see the value of the investment.
4. Offer a Commitment
Show your dedication by offering a commitment to stay with the company for a certain period after completing your qualification. This reduces the risk for your employer and demonstrates your long-term interest in contributing to the organisation’s success.
5. Be Prepared for Questions
Anticipate and prepare for potential questions or concerns your employer might have. Be ready to discuss the time commitment required, how your workload will be managed during your study period, and how you plan to apply the skills learned in your day-to-day role.
To help we have created a sample business case to help you sign up with Business Academy Online. You can access this here.
I hope you find this helpful for any training you need to prepare a business case for!