Blog 08- Managing Career and Retention

 Managing Career and Retention


Figure 01: (Tes, 2022)

Any employer should be concerned about high staff turnover. Consider the cost of recruiting, interviewing, and training new personnel, not to mention the fact that these individuals may be less skilled than the veteran staff they are replacing. Employees have more options when the economy improves and the labor market expands, making employee retention even more difficult. Employees are most likely to say they want higher income and benefits, are unhappy with their present company's career prospects or desire additional challenges when asked why they are looking for other jobs. To reduce turnover, career development programs can address these issues (Gomex, 2014).

 

Employers can benefit from employee development in the following ways:

1. Staff retention: showing your employees that you value them and their growth by spending time or money on them shows them that you care about them and their development, which makes them more likely to stay with you.

2. In a competitive market, a workplace culture that prioritizes learning from the start can help you stand out when it comes to hiring new talent.

3. Self-improvement can help employees feel more motivated at work, as well as increase productivity and engagement.

4. Improve your company's performance: enhancing your employees' skills will benefit them not only in their careers but also in their work performance, as well as yours.

What does it mean to have a career development plan?

An individual career development plan is a set of short and long-term goals for your employees that are related to their present position and future desires. These objectives should be related to the abilities they'll need in the future, their current strengths, and the areas where they need more help. It also contains plans for formal and informal experiences or development that will assist them in achieving their objectives.

Example of an Individual Career Development Plan Format:

If you want to provide your employees with an individual career development plan but don't know how here's what you should include in their plans:

ü For the following one to three years, set short-term goals.

ü After that, I'd like to set some long-term objectives.

ü Internal or external learning and development, assignments or projects, as well as other development activities such as mentorship, are all examples of experiences that might help them achieve their goals in the short term.

Reference

BasuMallick, C. (2019, July 08). What's Better Than Employee Benefits? Employee Career Development. Retrieved from HRtechnologist: http://www.hrtechnologist.com

Desseler, G., & Varkkey, B. (2018). Human Resource Management: Fifteenth Edition. Chennai: Pearson India Education Service Pvt.Ltd.

Gomex, M., 2014. How Career Development Programs Support Employee Retention. [Online]
Available at: https://www.td.org/insights/how-career-development-programs-support-employee-retention
[Accessed 03 04 2022].

Sodexo, 2022. HOW CAREER DEVELOPMENT CAN HELP WITH EMPLOYEE RETENTION. [Online]


Available at: https://www.sodexoengage.com/blog/employee-engagement/career-development-and-employee-retention
[Accessed 03 04 2022].

Comments

  1. Mahinda Herath4 May 2022 at 08:27

    Thank you for sharing the article, Managing Career and Retention specially required for technical and manufacturing industry where the skill is important for higher production

    ReplyDelete
  2. Dharshana HR MBA4 May 2022 at 22:37

    Managing Career and Retention, which is particularly significant in the technical and industrial industries, where the ability to retain employees is critical for increased productivity.

    ReplyDelete
  3. Dharshana HR MBA4 May 2022 at 22:38

    This comment has been removed by the author.

    ReplyDelete
  4. Chaminda4 May 2022 at 22:38

    Demonstrating to your workers that you appreciate them and their progress by devoting time or resources to them demonstrates to them that you care about them and their development, which increases the likelihood that they will remain with you. Thank you for sharing the document

    ReplyDelete
  5. Rasika4 May 2022 at 22:39

    Managing career is a very important for both employee and employer for the development of the organization

    ReplyDelete
  6. Beyond the limits....8 May 2022 at 03:19

    By dedicating time or resources to your employees, you show that you value them and their progress, and that you care about them and their development, thereby increasing the probability that they will stay with you. Well written article.

    ReplyDelete

Post a Comment

Popular posts from this blog

Blog 05- The Role of Psychology in the Workplace

Image
  The Role of Psychology in the Workplace                                                             Figure 01 : (LSCI, 2017) Unemployment, underemployment, and insecure labor are all on the rise as a result of recent and ongoing worldwide changes. Individual and social well-being are harmed by the loss of decent labor, which fails to meet human requirements for economic survival, social connection, and self-determination. This is especially true for underserved communities and individuals with limited marketable skills. As a result, businesses are becoming more interested in the concept of workplace psychology. Psychology is defined as "the scientific study of man's relationship with the world of labor... in the process of creating a living" by Guion (1965). The application or extension of psychological...
Read more

Blog 09- What is a Human Resources Information System (HRIS)

Image
  What is a Human Resources Information System (HRIS)           Figure 01: (Vulpen, 2022) Every company's human resources department is seen as crucial to its overall success. Its various roles assist the firm by providing skilled and talented workers, as well as management training, employee enrichment programs, and other services. Human resources help firms maximize the value of their most valuable asset, labor, which is typically their single highest expense. Human resources departments, on the other hand, must have the appropriate tools and resources to function effectively. Within the department, a human resources information system (HRIS) can be utilized to help employees and managers improve their productivity and the results of their efforts. What is an HRIS, or Human Resources Information System? Human Resources Information System (HRIS) is a term that refers to a system that keeps track of human resources HRIS stands for Human Resource Inform...
Read more

Blog 10- Effective Employment Tool- Linkedin

Image
Effective Employment Tool- Linkedin One of the most common reasons why hiring teams use LinkedIn includes job listings, networking, and marketing. LinkedIn is also a great medium for communicating and looking for the right talent. In addition to this,  LinkedIn has proven to be a robust tool for social media recruiting and hiring the best candidates LinkedIn is an American business and employment-oriented online service that operates via websites and mobile apps. Launched on May 5, 2003, the platform is primarily used for professional networking and career development, and allows job seekers to post their CVs and employers to post job. [linkedin.com, 2021]                                                                    Figure 01 [linkedin.com, 2021] Benefits of LinkedIn -Gain exposu...
Read more