Faculty development has a key role to play in individual and organizational development. This perspective on faculty development, which builds on the 2020 Vision of Faculty Development Across the Medical Education Continuum Conference and the First International Conference on Faculty Development in the Health Professions, describes six recommendations that we should consider as the field of faculty development moves forward: grounding faculty development in a theoretical framework; broadening the focus of faculty development to address the various roles that clinicians and basic scientists play; recognizing the role that faculty development can play in promoting curricular and organizational change; expanding our notion of how faculty members develop and moving beyond formal, structured activities to incorporate notions of work-based learning and communities of practice; making faculty development an expectation for all faculty members; and promoting scholarship in faculty development to ensure that research informs practice. Looking ahead, we should also consider strategies for leading change, collaborate across institutions and international borders, and work together to share lessons learned in research and practice.