In most organizations, total human capital costs average nearly 70% of operating expenses. And more than 70% of high-retention-risk employees say they will have to leave their current organization to advance their career. * Since employees are our greatest expense, shouldn’t we devote more time and attention in retaining our investment?
With the Millennial and Gen-Z generations now in focus, career development is more important than ever, as younger generations place more value on career fulfillment than the number on their paycheck. Companies need to develop strategies that nurture employee motivation and career growth to not only hire top talent, but to also retain them. But where do you start?
There are many paths that an employee’s career might take. Maybe they are looking to become a leader or challenge themselves by progressing along a technical track. Or maybe they are finding their current domain uninspiring and want to make a lateral move. Whichever scenario, employers need to help employees develop a plan that guides them to their next step while assuring the employee is qualified to fill the new position. The problem is how do you make a plan without a roadmap to show you the possibilities.
Career Ladders are the roadmap for career development. To build career ladders, the first thing you need is a clear understanding of the work people do and the qualifications and competencies needed to perform well in each role. This is why the job description is so important. An accurate and up-to-date job description clearly characterizes what skills and requirements are necessary for that job. Employees can then plan what training or certification they need for that next position.
But career ladders aren’t just inclusive of a vertical dimension. It is important to understand how positions in different domains relate to each other. Many of our clients work with consulting companies like Mercer that offer Career Architecture methodologies. This results in career ladders with a tuning fork shape, that visually identify horizontal equivalencies in different domains. With a career architecture in place, a person on a professional track may be able to identify lateral moves into a management or organizational role, that might not have been otherwise apparent.
Career development is a win- win for both employers and employees. Employees are more motivated and driven which contributes to higher productivity and engagement, adding value to the organization. Employees on the other hand, can move up the ladder and not only achieve their financial goals, but improve job satisfaction and gain peace of mind.
Job information is the cornerstone of talent management, compensation, compliance and other HR initiatives. Any activity based on an incomplete or inaccurate understanding of the work people do is at best suspect if not outright flawed.
It is clear that trying to maintain job information via Word documents and email does not lend itself to creating effective career development practices. The foundation you need to build those practices it is simply not there without an automated job description solution. And JDXpert is the answer.
How does JDXpert help?
Job Catalog Access
Enable employees to plan their careers via this easy access, read-only view of your job description library. This enables employees to drill down, view jobs side-by-side and easily analyze their next career move in your organization.
Career ladders – side by side views
Employees need to know what competencies, qualifications, licenses and certification and education they may need to obtain to reach the next level. JDXpert Career Ladders (side by side views of job families/sub-families) provides employees looking to take the next step, a clear and concise roadmap.
Loyalty and longevity are no longer a given in today’s corporate world. Instead, employees flock to organizations that foster their career aspirations and leave others who fail to recognize them. Let’s start promoting an environment dedicated to nurturing our employees’ goals and show them that they have a long, productive future with your company.