Is Career Development The Most Effective Way To Retention? Let’s Find Out!

Is Career Development The Most Effective Way To Retention? Let’s Find Out!

A Glassdoor research on employee turnover found that employees who stayed with a company for a long time without a clear path for advancement will leave for the next step in their career. 91% of millennials today value career progression as a top priority when choosing a new job.

For decades, organizations that value people and invest in them, experience higher market shares and lower turnover than their competitors. Despite the positive statistics that continue to favour career development, many organizations seem to overlook it.

Employees cite lack of growth as the most common reason during exit interviews. This makes it evident that an employer who doesn’t focus on career development is bound to lose out.

Unlock The Key To Retention!

Development is no longer an optional perk to be reserved for the choicest employees. It is a fundamental expectation! It indicates that the employer cares about its people and not just about getting the job done.

Candidates are on the lookout for a company where career development is part of the package, just as much as the compensation. To hire and retain this massive talent pool, development has to be made part of your company’s strategy!

Right from the day the employees are brought onboard, development is essential. Training the employee for the job is good, but it is also important to train them for success. When companies invest in employees, employees invest in their efforts and together both entities grow with satisfaction, engagement, and longevity.

Why Career Development Is Important

Some Strategies to Incorporate Career Development Into Your Organisation!

Here are some effective ways you can develop your talent, nurture them, and keep them happy:

1. Improve Soft Skills:

A recent LinkedIn survey that included 2000 business leaders concluded that more than half or 57% focus on soft skills more than hard skills when it comes to what they need their employees to develop.

The top desirable soft skills are leadership, communication, team-building, and time management.

While some may innately possess these skills, they can always be improved upon. With so many Cloud-based learning platforms and apps, this is easily doable for all employers. Also, with soft skills development, employees will recognize that you value their growth and not just how quickly they finish their tasks.

2. Provide an Opportunity for Micro-Learning:

Many employers fear to invest in employees presuming that they might leave the organization. However, employees will leave anyway if you don’t provide them with development opportunities. Use technology and create micro-learning opportunities if you think that long-duration seminars will not work for you.

Offer learning opportunities in small increments that can be tucked into a workday with ease. Considering shorter attention spans and the fast pace of life today, this is the best way you can empower your employees.

For instance, short video-based learning can be utilized for micro-learning opportunities. Give your employees good resources and assistance to support their career development.

3. Have Career Conversations:

Rather than waiting until the annual performance review, employers should have short and crisp career conversations frequently and iteratively. Effective leaders incorporate this formally and informally to know more about their employees.

For example, you can make use of time even as you spend time with your employees when a meeting is about to start or while waiting for a client.

This will help a great deal with the final culmination of performance reviews and development planning. Communicating with employees is the key here as when you do that, formal conversations are a lot easier.

4. Involve the Managers:

With their workload and tackling the to-do list, managers often tend to overlook the career development of their team. It is probably the last thing on their agenda. However, managers should understand the importance of developing their people as a key responsibility in order to keep their teams engaged.

You should discuss with the people on what new skills they want to learn and have your managers assign the applicable courses. You can also shine the spotlight on managers who are encouraging learning and collaborate with them.

5. Adopt Cross-Training and Job Rotation:

At some point in time, employees may hit the ceiling in their career path and it would seem like they have nowhere to go but head for the exit. Rather than losing a talented employee, you can cross-train them. Horizontal cross training expands the employee’s knowledge and could be a great chance to renew their commitment.

Instead of enabling your employees to climb the monotonous career ladder, this is a wonderful opportunity for them to move laterally. Instead of moving from Point A to Point B, you can offer a new challenging role in another part of the company.

Strategies For Career Development

6. Internal Mentorship

Have a system of internal mentors who can coach and support new team members. It benefits the new employees who are looking to climb the ropes of their new role and also the veterans who can network and prove their value to the organization.

Providing professionals with a mentor who is interested in their personal and professional growth will ensure that employees stay with the company for a long time.

7. Make Learning Part of Employee Experience

Rather than learning singular skills the present job descriptions require, employees should be empowered to learn far more. And, this can only be possible when learning is integrated with employee experience.

Tools like pulse feedback, wellness, fitness apps, employee self-service tools, gamification, and interactive eLearning tools can go a long way to create a high impact learning culture. Create a culture which your employees will yearn to be a part of!

Foster a Career Development Culture to Retain Talent!

Providing career development opportunities to your employees will impact performance. It creates a positive employee experience. Helping people to bring out the best in them will make your organization stand out.

Design a culture that encourages career development and enjoy the boost your employer brand gains!


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