Why is career development planning so important? Employee development is an ongoing process that happens in every company, whether the employer has an active influence on it or not. However, a professional development policy often determines how the company is perceived by existing and future employees. Nowadays, the work environment is extremely important and employees pay attention to professional development opportunities when looking for a job.
Career development planning – table of contents:
A sense of belonging
Employers have doubts about the worth of a professional development policy for fear of the risks it entails. Employees with new skills may leave the organization, and the costs incurred for their training may be a loss to the company. However, this is a risk that should be embedded in the activity of every business.
Contrary to popular belief, the possibility of development is one of the best methods to motivate employees.They perform best when they have a sense of belonging to the company and want to participate in its development. Employees who feel recognized and cared for don’t look for other job offers.
Today’s job market is an employee’s market. Modern employees are driven by a sense of purpose, and they demand more from a company than just a salary.Offering professional development opportunities helps to gain loyal employees who work effectively, which boosts the company’s profitability.
Enhanced employee engagement
The Gallup organization annually publishes reports on employee engagement and motivation across a variety of industries. The research is based on surveys, which are conducted internationally on large samples of employees.
According to many statistics, 7 out of 10 employees in the US report a lack of engagement. Employees who are not engaged are mostly those who are not recognized in the company, and have no opportunities for growth. Such people not only lack the right motivation for their work, , but they also don’t feel attached to it. This, in turn, leads to the risk of losing qualified employees and the necessity of spending extra costs on recruitment and training of new staff.
When running a business, the question of career development planning must be considered in terms of return on investment. Workforce trainings and courses are usually costly, and the need to bear extra expenses is usually the main factor that holds companies back from implementing employee development plans.
It is often a long-term investment, and employers have to wait for measurable results. However, it brings tangible benefits to the organization especially when it cares about retaining valuable employees.
Most people change jobs not only because of increase in salary, but mainly due to professional burnout and lack of opportunities for further development. The cost of employee turnover is extremely high, therefore investing in employees’ professional growth is always more profitable than losing them.
Giving employees the opportunity to learn new skills that will enable them to be promoted in the future is one of the best ways to attract top talents. Employees who complete the entire development path know the company very well, and they are aware of its strengths and weaknesses.
As they are well-experienced, they are able to suggest changes that will have influence on the efficiency of business operations. Employees who have been promoted also feel a greater sense of belonging to the company, and thus there is a slim chance that they will quit.
Career development planning -summary
Career development planning should be the primary value for every organization. More and more companies implement employee development programs and start to perceive their potential. Properly motivated and engaged employees who constantly sharpen their skills can give a strong competitive advantage to your business.