In training, we love a good acronym, so we have come up with one for this article; SPACE.
1. Skills
Professional training allows for the acquisition or sharpening of knowledge and skills, increased collaboration, curiosity and professional awareness. Once you feel you have the knowledge and skills sharing them in a professional situation gains you respect and authority.
- Pay
Boost earning potential and create professional opportunities. According to the ONS all of the levels of work skills see an uplift in wages through training, although professional occupations such as surveyors tend to regard maintaining professional standards and status as the most important reason for professional training.
- Avoid Obsolescence
Last year saw the pandemic accelerate technological changes. As physical inspections became impossible, solutions were found to overcome this hurdle. The technology is here to stay and professional training is vital to mitigate skill obsolescence.
The following graph shows planned business adaptations in response to Covid-19
As newly qualified professionals join the market, bringing with them up to date knowledge and skills, it is important that those experienced in the profession continue to update and prevent technical proficiency from declining.
Legislation sees constant change as it tries to keep pace with the markets changing appetite. As the key drivers behind the property industry change, so must the way values are derived in order to remain accurate and relevant.
- Confidence
Professional training leads to an increase in professional confidence, competence, and engagement, reduces stress levels, improves work satisfaction and reenergises.
A recent Dale Carnegie study showed that Professional training can increase performance by up to 202% as you work more confidently and with more engagement, which employer will not notice that sort of improvement?!
The bottom line is that nobody can predict the future, 2020 proved that. The best way to prepare for the uncertain is to be flexible. Financial models on excel are a great way to build flexibility into your valuations.
- Ethics
One of the fundamental ethical concepts is professional behaviour and competence, it is your professional duty to ensure your knowledge is up to date and correct. Professional training not only counts towards your CPD requirement but also gives you professional confidence.
CPD requirements and obligations
All members must undertake a minimum of 20 hours CPD each calendar year (January to December).
Of the 20 hours at least 10 hours must be formal CPD. …
All members must maintain a relevant and current understanding of our professional and ethical standards during a rolling three-year period.
RICS.org
Cambridge Finance are perfectly placed to offer professional training in all aspects of real estate financial modelling, with courses suitable for all levels of ability.
View our course calendar and improve your SPACE –
- Skills
- Pay
- Avoid Obsolescence
- Confidence
- Ethics