Do You Have an Organizational Career Management Strategy? Employers of Choice Do.
To win in today’s dynamic, complex workplace, smart employers have evolved their career development initiatives into a proactive, enterprise-wide career management strategy.
We hear it all the time “our employee engagement
scores continue to decline … we lost another super star unexpectedly and we had no clue they weren’t happy … we initiated career development classes but we’re still not changing employee perceptions.” And the list goes on.
The good news is that most organizations are getting the message loud and clear that their employees are frustrated with the lack of attention, resources, and discussion regarding their career. The bad news is that many organizations have taken a “check the box” approach to their career development initiatives.
As a result, unwanted turnover is taking a toll with the domino effect of high recruitment and training costs as well as loss of productivity, increased stress, and poor morale. This confluence of negative events has a direct impact on an organizations’ ability to remain competitive. Actual dollar cost of unwanted turnover is typically one to two times the employee’s annual salary, with much higher multipliers for senior executives.
Many organizations are well intentioned and have initiated courses, developed online career resources, conducted informal surveys and focus groups, or provided sporadic webinars on a variety of career topics. All of these are positive efforts to address one of the most challenging issues impacting the future of their organization. But it isn’t working!
Brand influences career choices. Employers of choice understand that career is the primary driver to recruit, engage and retain talent. Companies that promote from within and have the reputation and brand for developing and growing their people are seen as premium employers who easily attract new recruits. These companies understand that a proactive career management strategy supports their current, emerging, and future business needs. It is integrated into their overall talent management strategy, impacting the entire employee lifecycle, creating the career management value chain.
The Career Management Value Chain:
Reduces unwanted turnover
Reduces recruitment and transition costs by redeploying talent internally
Feeds a positive employer brand by engaging and growing talent
Fills existing and emerging talent gaps as business needs change
Informed leaders are driving efforts within their organizations to build a comprehensive Career Management Strategy. This is a journey with specific steps to build, implement and sustain their development culture.
The model below will help you determine where your organization is now.
Here are three practical steps you can take to begin the process of building an enterprise-wide Career Management Strategy:
BUILD ACCOUNTABILITY -- Help your employees become accountable for managing their careers by providing them with ongoing support and career resources that will help them increase their awareness of strengths, skills and interests to continually align and add value to business needs.
INCREASE CONFIDENCE -- Provide managers and leaders with tools to enhance their confidence and competence in conducting, ongoing Career Conversations with their employees.
OFFER RESOURCES -- Provide robust, easily accessible, career management technology resources that help employees develop needed skills and knowledge to grow their careers and meet emerging talent needs.
Related Talent Management Articles: