Why is Career Progression Significant?
There are multiple advantages of career development. Providing constructive career development opportunities to employees is one of the most effective ways to achieve numerous benefits for your organisation’s workforce.
When employees are offered career progression opportunities, it makes them feel like they’re growing with the company and provides a sense of purpose, which in turn fosters loyalty.
A career development program also provides employees with a constant mechanism for developing their skills and knowledge. Investing time in your employee’s development and future will also in turn, provide direct multiple benefits for on the entire organisation, for example, company morale, motivation, and company performance.
Most organisations could benefit by increasing efforts to establish clear strategies for how talent will be grown from within. Career ladders can be effective strategic tools for employees to see the path in which they are heading towards and the long-term goals that are achievable to them should they continue this journey. With an employee-driven career development initiative in place, your top talent gains the opportunity to apply for critical roles that may be vacant.
Employees who have access to career development processes, resources, and tools feel much more engaged and supported by the organisation. In addition, employees who drive their own development are far more likely to be motivated and optimally productive on a consistent basis.
Traditional training programs focus on improving specific competencies related to the employee’s current job, employee development programs target skills, knowledge, and behaviours that better prepare the employee for future positions; career development encompasses both training and development.
Aligning the employee’s career goals with the strategic goals of the organisation not only helps the organisation achieve its goals but also helps the organisation in the following ways:
- Retain key workers
- Decrease employee turnover
- Identify difference between market competitors
- Productivity and financial returns
Organisations that achieve the most sustainable success are those that attract the best people to develop their strategies and achieve their goals. An effective career development initiative brands your organisation as one that truly cares about its employees, helping your organisation continuously attract the best people for the roles you need.
Because of organisations having to remain current in technology, business practices, and in advances in their industry, an organization that embraces career development processes can keep employees informed of advancements and maintain their competitive edge in the market.