As talent shortages persist, a new survey reveals that professional development opportunities are one tool for retaining employees. Indeed, 58 percent say they are likely to leave their company without professional development—or continuing education and career training to help develop new skills, stay up to date on current trends, and drive career advancement. This likelihood to leave holds especially true among women, people of color, and Millennials.

But for people of color, there may be a gap in access to these opportunities. Conducted by The Conference Board, the survey reveals that more people of color report a lack of opportunities and resources for professional development than do their White counterparts.

The latest workforce survey from The Conference Board captured the thoughts of more than 1,200 individuals—predominantly professional/office workers—from May 16-31. Respondents weighed in on the importance, access, reasons, and barriers to professional development.

Key findings include:

Development opportunities are key to retaining employees—especially women, people of color, and Millennials.
How likely are you to leave your company for another if you do not receive the development opportunities you believe you need?

Women, people of color, and Millennials are more likely to leave their organization if they don’t receive development opportunities.
Gender:
Women: 61 percent would leave
Men: 55 percent
Race:
Black: 68 percent
Hispanic and Latino: 70 percent
Asian: 80 percent
White: 53 percent
Generation:
Millennials: 66 percent
Gen X: 63 percent
Baby Boomers: 47 percent
The disparities are even more striking among women of color:
Black women: 71 percent
Hispanic women: 70 percent
Asian women: 70 percent
White women: 56 percent
Overall, 58 percent of workers are likely to leave their company if they don’t receive professional development opportunities.
“These survey results reveal that, in the midst of a talent shortage, providing and promoting opportunities for career and skills development can be a critical way to attract candidates,” said Rebecca Ray, Executive Vice President of Human Capital, The Conference Board. “In order to retain and grow the diversity of thought and experience within your organization, it is critical to ensure that all employees have access to rich professional development opportunities.”