5 Steps to Building Career Paths that Can Benefit Your Business and Your People
Opportunities for career progression — or lack thereof — are both the No. 1 retention incentive and the No. 1 driver of turnover cited in Deloitte’s report Talent Edge 2020: Building the recovery together. When asked what would keep them with their current employer, 54% of employees surveyed cited opportunities for promotion/advancement over compensation, bonuses, benefits, or any other reason, while 28% cited “lack of career progress” as their top reason for looking for a new job. In the same survey, 48% of respondents rated their employer only “poor” or “fair” in creating career paths. Clearly employers have an opportunity here. Leading organizations are already using career paths to attract and develop multifaceted talent and build a competitive talent brand. Here are 5 steps to get started.