Archived Insight | August 10, 2018
Without a clear path of career advancement your people will become discouraged and inefficient and the talent you want to keep will move on to opportunities elsewhere.
Attracting high-value employees to your organization is only half the battle. Unless your people feel they can find significant career growth with your organization, they’ll move on to greener pastures and leave you having to start from scratch. Focusing on career growth will help you get the most out of your best people and save you money (and stress) by reducing turnover.
Some of the common issues our team of experts have seen organizations struggle with in regards to career growth strategies include:
While these types of career growth problems crop up at nearly every organization, you can resolve them with the proper planning and execution.
Our team recognizes that your organization has its own unique challenges and will work with you to develop a custom plan that’s right for you. Broadly speaking, we’ll help you with the following steps:
Understand the benefits of establishing a career growth plan. Having a career growth plan can help organizations understand where their talent is concentrated, how prepared they are to meet future human resources challenges and how key employees can be developed and retained, while simultaneously improving the effectiveness of the organization.
Develop a tailored career growth plan. We work with senior leadership to define the organization’s career development philosophy based on current business context. Our team also ensures that the newly developed career growth plan aligns and integrates with the key issues and concerns of the organization.
Implement the career growth plan. Once the strategies have been established, we work with leadership and HR to carefully plan successful implementation. Implementation planning includes identifying how employees fit within the new career growth plan, training managers and employees, and determining how to use the plan to support targeted employee development opportunities.
Below you'll find just one example of how our performance and rewards practice helped a client develop a successful career growth model, stemming turnover in the process.
An international consulting firm was experiencing unacceptably high levels of turnover among its technology professionals.
In response, our team:
By addressing the root causes of the problem, our team helped the firm create a stronger performance culture and successfully encouraged their most-valued employees to stay with them.
This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.
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