In this challenging working landscape, the retention of Employees and the development of their careers is critical to the success of any Organisation. Post-pandemic the spread of Employees’ daily workspace from Hybrid and/or fully remote models has added a further challenge for any HR department to ensure that all Employees feel valued, motivated, and challenged. Achieving this results in having a workforce that is more likely to be productive, engaged, and committed to their jobs.
A route to securing an engaged workforce, whether they are onsite, hybrid or fully remote is through investing in Career Planning and Learning and Development programmes, that both align to an individual Employee’s career progression and the future skillset requirements of your business. The goal is to also keep a working model sustainable, ensuring efficiency and collaboration are increased, and most importantly a Company’s corporate culture is not harmed. Recognising the importance of investing in your Employee’s career progression requires HR strategic planning and commitment by Employers and Senior Management.
With the launch of our most recent HR Barometer Pulse Survey (Series 7.1) in May, it was unsurprising to see that Career progression was cited as the second most common reason Employees left Organisations in 2022, with just under 5 in 10 (48%) citing it as the main reason for leaving employment.
Prioritising career progression for Employees will support business goals to stay competitive and also foster a culture of continuous improvement and career enhancement opportunities internally. Initiatives need to go beyond simple training sessions and encompass a comprehensive approach that encourages personal growth, skill enhancement, and career advancement. Striving to develop and deliver a programme that cuts across all Employee’s needs requires careful planning, advice, and guidance and will ultimately increase Employee retention rates.
Develop a Strategy to foster Career Progression
Developing a Culture of Learning
Rather than just being seen as a box-ticking exercise, developing Learning and Development training programmes or workshops will encourage and foster a culture of Employees who will thrive on innovation. This investment in your Employees will naturally benefit both them and your company’s growth. Senior Management’s participation in these programs is also vital; again, a culture that is fully embraced by all will deliver the best results.
Employees Personal growth
A key HR goal for any Employer is to provide an Employee with the opportunity for personal growth. Training workshops will enhance skills and competencies and the ability to work better together. A key trend for 2023 is the ability to empower your workforce to upskill and move around your Organisation rather than leave and go to a new Employer. Retention of skillsets will set you apart from other businesses whilst promoting talent mobility within and throughout your business.
Enhancing Employee Skills and Competencies
Ensuring your Employees are up to date with industry trends, for example, Artificial Intelligence (AI) and its impact on the business world will set your career planning apart. The impact of AI is getting more prominent and being aware of how it might be integrated into your Company and Employee’s daily workspace and how they will benefit from new technology and not fear it, is vital. Upskilling your workforce and showing Employees opportunities to grow within your Company is an important factor in retention strategies.
Boosting Employee Engagement and Retention
Learning and development not only boosts professional growth but also retention. If an Employee feels valued, then their productivity will grow also. Seeing the opportunities for career development through advancement in L+D is a culture that Employees want to be part of. When Employees are equipped with the necessary skills and knowledge, they can perform their tasks more efficiently, resulting in increased productivity.
Using HR Metrics / Data Analysis to Boost Retention
HR Metrics are essential to the measurement, understanding and optimisation of People Strategy and identifying the appropriate metrics that allow you to track progress on your strategic people objectives, is essential to understanding what is happening within your business.
Companies should use HR metrics to analyse progress against plans, and when it comes to investment in career paths understanding the return on that investment is a clear indicator of what is working well or otherwise within your business. Developing and managing career pathways is a key component of any successful HR retention strategy, so identify the milestones, the metrics and the return to ensure you are consistently addressing the strategic needs of your business and of your people. Our experts at Adare can facilitate you along your journey to strategically address retention challenges and opportunities that both cultivates Employee growth and retention.