Aims: The development of knowledge-based economy in Hong Kong requires employees with higher education level and more up-to-date knowledge. Information and communication technology (ICT) industry has been growing rapidly which is important for building a knowledge-based economy by providing higher mobility of information, more efficient communication network and sharing of knowledge between business partners. In 2002 the HKSAR Government has set up a Continuing Education Fund to encourage employees in Hong Kong to improve their education and update their knowledge by enrolling into continuing professional development courses. This policy provides opportunities to courses providers to offer continuing professional development (CPD) courses. Since these CPD courses are provided after work so the courses are conducted by part-time faculty (PTF) and there is a need to recruit part-time staff in delivering these courses. Recruitment of PTF gives course providers the benefit of meeting their teaching needs economically and flexibly but educators have often expressed concern over whether Research Article British Journal of Education, Society & Behavioural Science, 4(1): 52-73, 2014 53 the performance of PTF is in anyway affected by the absence of career development opportunities. Study Design: This study was a quantitative study which used [1] five-component commitment model to examine the effects of the perception of value of career development (VCD) on the commitment components of PTF. Place and Duration of Study: The study was taken in Hong Kong between June 2011 and June 2012. Methodology: Sample data from a population of PTF working at the 450 registered CPD course providers in Hong Kong was collected from an online questionnaire. Finally 270 set of data collated together was analyzed by factor analysis, correlation tests and multiple regression respectively. Results: The results of this study suggest that perceived VCD was affirmed to have a significantly positive influence on employee commitment, while perception of the availability of career development opportunities was found to have a moderating effect on the association between perceived VCD and employee commitment. Conclusion: This study has both theoretical and managerial implications. The examination of the complicated relationship between career development and employee commitment of PTF in Hong Kong’s CPD industry can therefore serve as a useful reference point for both academic researchers and education managers. The findings can also help CPD institutes to formulate suitable human resource strategies for attracting and retaining well-qualified practitioners to become PTF.