Millennials are curious minded people. They want possibilities and want to be in control of their life. A key factor in organizations not retaining millennials is because they are uncertain about their career path. Sure, the position they are currently in may be great, but what’s next? How long do they have to wait to move up? What do they need to do to reach the next step? This doubt brings uncertainty of a future within their current company. And once that doubt takes root, employees start looking elsewhere for an organization that will provide them with that much-needed assurance.
Having a clear career path is essential for retaining employees. Once an employee joins a company, he or she should be given a plan that explains where they fit, not only currently, but also long-term. Starting this communication early proves to the employee that you’re not only just looking for a short-term fit, but that you are including them in plans for the future. Additionally, it shows employees that they can achieve their goals internally, even if it’s in different divisions or years away.
HR technology today helps you portray this career path to employees. Take SAP SuccessFactors’ Career Worksheet feature. It allows employees to see the competencies they are currently developing as they continue growing in their current role. Future roles are also suggested to them based on an algorithm that you can create. The factors put into place are current competencies, how far of a reach a role is in a career path, whether the role is in the employee’s current family and current availability of the position. Employees are also able to search for roles within the organization that they are permissioned to and view the what it takes to get there. If there’s a competency or skillset that they are not learning, they can add this as a development goal in their portfolio. Employees can also view up-to-date information, such as how many openings there are for a certain role and who is currently filling the role. As employees have performance reviews and one-on-ones on an ongoing basis, their competency ratings are tied to the Career Worksheet for a seamless integration. If you have Learning Management within SuccessFactors, you can also add courses associated with each job role and competency within the worksheet.
Another great feature within Career Worksheet is viewing a visual career path of your current role. This shows different branches and paths an employee can take within the company as they develop. The graph will show you current vacancies in the chart and active employees within in each role, so they can be used as potential mentors. Moreover, those that are substantially exceeding within an organization can see how far up the ladder will reach. Providing this picture to ambitious employees and giving them a visible target to shoot for is extremely important for both motivational and growth purposes.
Having clear communication, setting definite development goals and showing a comprehensive pathway for an employee are all steps to assure employees that there is a place for them in your company’s future. This will also go hand-in-hand as you determine successors, bench strength and potential departures, which will ultimately be your Succession Plan. Stop leaving your employee hanging and secure them with a long-term plan.
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