Your question reminds me of an era of License Raj and Inspector Raj up to 1993 in a socialist economy.
Basically, during a socialist economy, we were controlled by licenses to practice, and licenses were limited. Therefore, demand was high, and supply was low. All those licensed individuals were in high demand because it was mandatory to adhere to licensed personnel. For example, the statutory provision of a Labour Welfare Officer required a license and an approved qualification under the Factories Act.
The Chartered Institute of Personnel and Development (CIPD) is a UK-based institute.
In a liberalized economy, certification holds little importance in validating individual competence in education and the intellectual field. Today, mere certification does not guarantee job security; one must perform. The role of a Labour Welfare Officer was essentially non-performing, aside from the philosophy of protecting labor, which was rarely fulfilled.
Today, one must perform and survive, emphasizing whether a qualification will be beneficial. It depends on how you manage to stick around and prove yourself.
Partho