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Capitalise on People Development to Retain Employees

According to the latest Gartner research, Australian employees plan to stay with their current employers, with the numbers actively seeking new positions falling by almost 7%. While on the one hand, that might give HR professionals a reason to smile; the reality is now is not the time to sit back and assume attraction and retention of talent is not a challenge. […]

Capitalise on People Development to Retain Employees

According to the latest Gartner research, Australian employees plan to stay with their current employers, with the numbers actively seeking new positions falling by almost 7%. While on the one hand, that might give HR professionals a reason to smile; the reality is now is not the time to sit back and assume attraction and retention of talent is not a challenge.

Original source: Gartner  

The Gartner study reaffirms my belief in the power of opportunity. Career opportunity to be precise. Now is the ideal time to implement a unified talent development strategy that builds a strong employer brand, encourages employee engagement and retention, and leads to increased productivity. This strategic approach ensures employees see not just a way to secure their future, but also a way to expand their skill arsenal.

How an organisation can develop employees, so they stay

 

Before we go any further, I want to be clear about one thing. Developing your employees is more than investing in training. It is a holistic approach that encompasses all aspects of the employee lifecycle. Think of it as your organisation’s employee value proposition (EVP), the combination of benefits and rewards that an organization offers to its employees in return for their work and skills… a strong EVP also includes intangible components such as culture, opportunities for personal and professional development, and more”.

My colleague’s blog post, How to Use an Employee Value Proposition (EVP) to Attract Top Talent, provides a brief introduction to the many ways a strong EVP is the cornerstone of an organisation’s talent development strategy.  A robust EVP enables employers to create talent personas that relate to the specific roles they need to fill and highlight critical components of the job most attractive to these personas. Think of it like this, designers tend to be most interested in working with companies who have a strong sense of identity, brand and aesthetic, while engineers and programmers are more likely to favor companies that prize and highlight their commitment to innovation and cutting-edge technologies. Tailoring EVPs to specific roles and individuals help organizations stand out in a big way.

The Five essential characteristics of an EVP

According to Gartner, EVPs portray the value of working in an organization across five attributes:

  • Opportunity: Can I learn and grow here? Is the company growing?
  • People: Will I connect with my co-workers, manager, and can I see myself here? Do I have confidence in upper management?
  • Organization: Is the company socially responsible? Do I connect to the causes it promotes? Are the products or services from the company those I place value in?
  • Work: Will my new role facilitate a work-life balance?
  • Rewards: What sort of compensation is on offer? What is the salary, the health benefits package, and how much paid time off is part of the package?

Technology’s role in your EVP

The discussion around the profound changes artificial intelligence brought about – from attraction, onboarding to performance management — is not new. The changes are happening across the board, and HR professionals are all too aware of the transformational impact technology is having on their profession and their daily tasks.

While it is highly beneficial to have at your fingertips the means to automate performance reviews or onboarding, it is technology’s role in facilitating career paths for employees that seals the deal for me. When employees can see where and how they can progress within their company, they feel valued. Career pathing is also an invaluable tool as you design and implement your personalised succession plan. It enables employees and employers to see what skills a candidate possesses and what they require to be eligible for future opportunities.

 Four steps to establishing career paths

  1. Build an individual employee profile (IEP). Be sure to list include skills/competencies, education, and experience.
  2. Based on the IEP, identify what skills are missing and recommend the relevant training
  3. Incorporate manager input on skill gaps and recommendations
  4. Utilise your learning management system (LMS) to execute the development plan

 

To learn more about establishing and implementing career pathing in your organisation, check out this free webinar: Career Planning & Pathing: How to Develop a Strategic Vision.

Struggling to Retain Employees? Career Pathing Can Help

The UK employment rate is 76.1 %, the joint-highest on record since 1971. In many ways, this puts employees in the driver’s seat regarding where and with whom they will work. As a result, HR can feel the pressure to not only attract employees but also ensure talent development strategies are in place to keep them. […]

Struggling to retain employees? Career pathing can help

The UK employment rate is 76.1 %, the joint-highest on record since 1971. In many ways, this puts employees in the driver’s seat regarding where and with whom they will work. As a result, HR can feel the pressure to not only attract employees but also ensure talent development strategies are in place to keep them.

While remuneration and benefits are critical factors when people consider a new employer, we know that training and career development are top of mind also. In Deloitte’s 2018 Human Capital survey, building the 21st-century career emerged as the third most important trend. However, all too often, what employees think of as career development does not synch with what the company offers. Traditional career planning is linear, the company or a manager is in the driver’s seat, and the outcome or destination is wholly dependent upon who is ahead of you. Modern career planning, or career pathing, is not any of these things.

What is career pathing?

For starters, it involves a fundamental change in how you perceive the notion of career development. It recognises that it is a journey, not a destination. That importantly, the employee is the primary driver, and the outcome now depends upon how quickly he/she acquires new skills. Ultimately, career pathing is aligning each individual and their aspirations with the relevant training to enable workers to attain their professional development goals.

What do I need to start career planning in my organisation? Build individual employee profiles

 

What do I need to start career planning in my organisation?

1. Build individual employee profiles

These must include details such as the employee’s education, experience, and current skills and competencies.

2. Establish an L&D plan

Begin by identifying the skills the employee needs to progress. Then recommend the relevant training.

3. Determine the next step

Design and create a development plan. Ideally, your organisation’s learning management system includes this capability.

Design and create a development plan. Ideally, your organisation’s learning management system includes this capability.

Want to learn more about career pathing?

Struggling with how to implement a career planning strategy at your organisation? We can help. SumTotal is partnering with HRreview and hosting a webinar – Career Pathing Is Your Best Employee Retention Strategy. On Thursday, October 24th Amanda Wellborne, Senior Customer Success Manager at SumTotal, will discuss:

  • Why career pathing is critical in today’s multigeneration workplace
  • How to define your organisational needs and areas of future growth
  • What digital tools you need to support your objectives
  • How to measure progress

Register for webinar "Career Pathing Is Your Best Employee Retention Strategy

 

 

 

Multi-Generational Workforces Mean the End of the One Size Fits All Learning Approach

Five generations now work alongside each other. Accommodating the different expectations and demands from each group is no small task. As the demographics shift and millennials and Gen Z together begin to outnumber the other groups, it is increasingly evident that companies need to restructure their learning opportunities to better align to this disparate group. […]

Five generations now work alongside each other. Accommodating the different expectations and demands from each group is no small task. As the demographics shift and millennials and Gen Z together begin to outnumber the other groups, it is increasingly evident that companies need to restructure their learning opportunities to better align to this disparate group.

The shape of the new career path

One noticeable difference in how distinct generations view career progression is that most modern employees no longer see the career path as linear. Today people are looking to move through their career, acquiring new skills and conquering new challenges, and that journey can take many directions. What this means is that now, more than ever, employers must be committed to providing ways to grow, improve, and nurture their people. When employers can do that, they earn employee engagement and loyalty, tenfold.

However, developing such an approach doesn’t mean that more traditional employees should be left by the wayside, either. Today’s HR leaders must create multi-faceted engagement strategies that harness the ambition of their most driven employees. They must also allow more traditional individuals to grow in a “slow and steady” manner.

Create an opportunity-rich culture of learning

There are several steps organizations must take to ensure every employee sees a future within the company.

Here is a list of the top five measures HR and L&D must prioritize:

1. Allow self-directed career pathing

Online multi-modal content, training and conference opportunities are great ways to provide fuel for career growth. It also helps HR leaders see which individuals are motivated, and which are ready to step up and learn.

2. Provide learning opportunities to all your people and deliver it in ways relevant to each employee’s learning style

This means mobile-friendly, it means micro-learning AND deep-dive content. Today’s education needs to be available for employees whenever they have time to access it and in a way that is convenient for them.

3. Define your organizational needs and areas of future growth

One of the best ways to help direct and encourage challenge-oriented people is to know where you need them. By doing the work and identifying areas of high-priority growth within your business, you can also share this information in the workplace.

4. Allow digital tools to support your process

Digital tools provide a vast array of personalized learning options and can act as your main educational driver. Today’s leading organizations offer a comprehensive and personalized learning-centered talent development solution spanning the entire employee lifecycle. This means attracting the right employees, engaging them, training them, tracking their progress and rewarding them.

5. Measure organizational progress

Leading learning management systems provide intuitive learner experiences and expansive content libraries to employees. They also track their development and provide HR leaders the analytics they need to prove ROI and overall business value to their C-suite.

 

Career Pathing Is Your Best Employee Retention Strategy

Think the war for talent is an overused term describing the challenges recruiters face to fill open requisitions? Think again. In the United States alone, the U.S. Bureau of Labor Statistics has consistently shown monthly job growth for years. […]

Career Pathing Is Your Best Employee Retention Strategy

Think the war for talent is an overused term describing the challenges recruiters face to fill open requisitions? Think again. In the United States alone, the U.S. Bureau of Labor Statistics has consistently shown monthly job growth for years. Meanwhile, wage growth is starting to inch up, a trend that seems unlikely to stop given the rise in demand for skilled workers, making it more expensive for employers to fill open positions. These challenges have a real and direct impact on every organization’s bottom line.

Furthermore, the problem doesn’t stop once you’ve attracted the top talent. Employers now need to work at making it a priority to retain employees. A recent survey by the global staffing firm Robert Half found job-hopping is a significant trend in the marketplace today with 64% of workers, 75% of those under 35, believing that frequent job changes will have an overall benefit to their career. The consequences of this for business leaders are enormous. HR must now execute a candidate-centric recruiting experience, package together salary and benefits offerings that deliver a competitive advantage and provide clear opportunities for career development and growth. In short, HR leaders must address challenges that have a direct and profound impact on business performance and financial results.

How to retain employees

Employees, once you get them in the door, want meaningful development opportunities. Transparency and relevance are crucial to delivering the experience each employee expects. Listing career development on a corporate values poster will not cut it. Gallup research finds that 87% of Millennials and 69% of non-Millennials rate “professional or career growth and development opportunities” as important or very important. However, too many organizations are missing the mark with career development. The same Gallup study found less than half of Millennials strongly agreed that they have had opportunities to learn and grow in the previous year. Moreover, only one-third reported their most recent learning opportunity was “well worth” their time.

Ryan Bonnici, the former senior director at HubSpot and now Chief Marketing Officer (CMO) of G2 Crowd, explains his philosophy on career growth with his staff:

“When I make clear to my employees that I want them to consider all options for their careers, they see that I’m genuinely committed to helping them learn and grow. They know it’s not lip service; I care about their development. If I think they’ve gotten to the top of their learning curve on my team, and I can’t figure out a way to help them grow, I will support their efforts to get a job somewhere else.” 

Regardless of the outcomes, the fact is successful organizations are not only providing their employees with L&D opportunities, they are also doing so systematically and methodically. Technology is making this possible. Here at SumTotal, we offer employers a way, a tool, whereby they can easily and efficiently provide their employees a clear designated career path and one that progresses upward with learning. This career pathing capability allows employees to choose aspirational career opportunities and receive a personalized learning plan from which they can build the skills and competencies required to move to their next step.

It’s not just about the employees either. Organizations benefit exponentially by having a well-trained and motivated workforce. Not only are such employees more productive, they also grow in their role and build capabilities and expertise that the organization needs to adapt to changes in its business environment. Furthermore, as Josh Bersin pointed out during his keynote at our Perspectives 2018 conference, research from Deloitte illustrates that internal employees can develop the same skills as an external hire at one-sixth the cost.

In other words, investing in your hard-won talent is perhaps one of the most critical moves an organization can make in the current tight labor market.

Here’s David Blake, senior director of global learning for PSAV, explaining why he believes the ability to systemize career development is a game-changer and one his organization is using to gain a competitive advantage.

Want to learn more about how to manage talent in today’s competitive labor market? Read our whitepaper on How Learning Drives Talent Development and Growth: Creating the Talent You Need In-House