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Accelerating Career Development: Building a talent pipeline and enabling employees to succeed
JUNE 2018
In today's ever-changing economy, employees want to keep their skills up-to-date and to progress in their careers. Likewise, most employers need skilled workers in order to effectively compete in terms of quality, customer service and productivity. But how well are organizations performing in this area? To find out, HR.com produced this study in partnership with BambooHR, a leading provider of HR technology for small and medium-sized businesses. Read this exclusive HR.com research report to learn what differentiates organizations with good career development from those with poor career development, and to assess how well organizations are handling career development.
HIGHLIGHTS FROM THE RESEARCH:
Not only do few firms excel in the area of career development, many rate themselves as low or very low in terms of the career development they offer to all employees. While there will always be some organizations that struggle to support their employees' careers, it's disappointing to see just over a quarter giving themselves such a poor rating. Seventy percent of respondents indicated employees were not satisfied with career development. Such dissatisfaction could, of course, interfere with their organizations' ability to engage and retain ambitious employees.
On two HR metrics (engagement and retention) and two business metrics (productivity and financial performance), organizations with top-notch career development programs are much more likely to have above average outcomes. While one can debate the direction of causality here, it is probably most accurate to see these factors as part of a holistic, virtuous cycle. Organizations that seek to take care of their employees (including but not limited to promoting career development) perform well, and this performance benefit encourages them to invest even more in employees.
To learn more about Accelerating Career Development and to get 8 key takeaway from the survey and research, please read the report here:
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