During your career, you would have come across many colleagues who moved on from the company as learning had stopped and their career had become stagnant. This is a common sight in many organizations where employees cite the same reason to switch jobs. After working for a couple of years in a company, employees want the work to be aligned according to their skills, expertise, expertise, and liking.
An employee will remain unhappy if the complexity of the work being assigned is not matching his skills & experience. This is where organizations need to take the right steps so that they can retain the top performers and groom employees so that they can reach the next stage in their careers. Every organization has a Learning & Development (L&D) department that has programs focusing on the improvement of employee’s competencies related to their job.
Along with traditional training, organizations should also focus on career development and training as it encompasses both training & development. Career development programs require planning & execution as the programs are created keeping in mind the ‘career path’ of the employees. For example, there might be Technical Managers who might be willing to take up Sales job but they have the zeal but lack the experience. Such career development programs can help chart the career path of employees as per their vision.
Many organizations partner with career-building specialists like ManpowerGroup as they have enormous experience working with clients on building tailor-made career & development programs for their employees. 86% of the organizations do not effective leadership plan, such programs help in nurturing the next leader from within the organization. All that needs to be done is nurture their leadership skills and invest in their talent & expertise.
Career development programs keep the employees motivated and reduce the attrition rate as the employees are being empowered. Even disgruntled employees who have made plans to quit the organization stay back as they can visualize their careers progressing in the right direction. By investing in building a thriving culture that encourages and supports continuous knowledge acquisition; employers can improve the productivity of their employees. All this leads to better financial returns as the investment made in career development helps in retaining top talent.
As business situations can be volatile, there can be cases where the organization has to let go of certain employees to cut costs. This is a tough time for the employee, HR, and other stakeholders who are involved in the entire process. A more humane touch can be applied to the entire process if outplacement services are provided to the outgoing employees. This is where organizations can partner with career management consultancy like ManpowerGroup as their team imparts career coaching & skills development training so that they can find a new job.
A keen focus on Career Management can improve organizational effectiveness as tailored programs address multiple lingering problems within the organization. Such programs nurture aspiring leaders & top performers from within the organization thereby minimizing the expenses involved in scouting talent from outside.
Conclusion
Job-hopping has become a common trend and focus on career management can help in reducing the attrition rate. To stay relevant in the industry, companies have to invest in the career advancement of their employees so that they maintain a competitive edge in the market.