As a business leader, supporting employee engagement and motivation is essential to keep teams performing their best. However, in today's ever-evolving economy, traditional approaches to employee retention may not be enough. With 84% of today’s workforce reporting they’d consider leaving their current job in the next 6 months, leaders need to look beyond the standard retention strategies and satisfaction rates to understand what truly moves the needle in retaining top talent – and we did the research for you. According to our recent study, one of the most effective tools for retaining employees is career pathing. By helping team members visualize and work towards their future goals within the organization, job satisfaction is improved, morale boosted and turnover reduced.
In our recent webinar, panelists Bella Patel and Tim Mote weighed in on how they’ve implemented career pathing within their own organizations, and what strategies they’ve found to be the most impactful. Below is a synopsis of their advice.
First, what is career pathing?
Career pathing is a structured approach to employee development, identifying potential career paths within the organization that best fit with the employee’s strengths, weaknesses and desires. It involves laying out the skills and experiences required for each path and creating a plan to help employees reach various milestones within their development, depending on where they’d like to take their career. This can help employees feel more engaged in their work, as they have a clear idea of what they need to do to advance in their careers and reach their goals.
What does your organization do to support career pathing?
Patel – At FCB Global we have recently rolled out a new career mapping program we call LEGs – which stands for Level Expectation Guide. This will be a standardized process for every employee in which they partner with leadership to set goals for themselves and their development and identify key ways they can grow within the organization. Each department and level within FCB have sample career paths to demonstrate what progression could look like – but it doesn’t stop there. LEGs is an ongoing process that helps employees and managers partner to personalize their path and achieve growth in the right areas for the employee and the company. They meet several times a year to ensure their development is on the right path and course correct when needed.
While this is a new pilot program, it has already gained momentum with employee interest and engagement, especially those entry to mid-level who have big goals for their development.
Mote – At Beam Suntory, we focus heavily on internal mobility. No matter the role, we always post and promote it so current staff have the opportunity to apply if they meet the skill requirements. We believe knowledge of internal opportunities that could be available to them helps keep employees engaged and looking for growth internally, rather than assuming to change career paths or get ahead they need to look elsewhere. We encourage them to apply whether the role is in their current department or not, providing even international mobility at times, if that is something they want.
We also provide a fairly robust training and development program, aimed at helping employees develop the skills they need for the next step of their career.
To hear more advice from Bella Patel and Tim Mote, click here.