Benefits include increased status, better-qualified professionals
Professional regulation represents an interesting paradox — the stated purpose is to protect the public interest by ensuring professionals are competent and act in an ethical manner, and yet the costs of regulation are borne by professionals who are regulated. Why? Since HR is not a licensed profession, members choose to be regulated and, in so doing, choose to bear the cost. Why, then, would members of a profession pay for something that ostensibly exists to protect the public? Because regulation also creates value for professionals.
