Career development: the best way to retain top talent

by |
A new survey has found that more employees than ever are restless in their roles, with workers wanting better pay, better benefits and – above all – a definitive way to develop their career.

“Career development is the number one thing people are looking for,” agreed HR manager Ilka Bene. “You have to offer employees opportunities to grow and develop.”

The study found that 36 per cent of employees are looking for a new job, with the majority citing “career growth opportunities” as their biggest motivator.

Bene, who heads up the HR department at Island Savings – says this doesn’t have to spell disaster for HR.  
“You have to put your money where your mouth is,” urges Bene. “What we’ve done over the last few years is really invest in our leadership development so they will have the skills to coach and support everyone.”

The Vancouver Island based financial institution has been voted one of the best employers in Canada for five years running.

The survey revealed that younger workers are the most likely to be looking elsewhere – with 45 per cent of employees aged 25-35 on the job hunt.

The study also offered employers some insight into what employers have come to expect:
  • 55 per cent expect their company to play an active role in their individual career options. Sixty per cent of male employees expect this vs. 49 per cent of female employees.
  •  38 per cent of employed millennials are looking for a job with more meaning.
  •  43 per cent of entry level employees want a role with more meaning compared with 21 per cent of managers/supervisors.
 
More like this:
What would you change about the HR industry?

Futurpreneur Canada – how HR can offer a helping hand

Generation Y – turning potential into long-term assets
  • Wayne Forster on 2015-02-02 9:08:14 AM

    Do they want "career growth opportunities" to do more challenging and impactful work, or do they simply see it as a way to get more money?

  • Eileen Kirton on 2015-03-25 12:01:42 PM

    I'm interested in the name of the Study quoted in the article. Can the author of this article please point me to it. Thanks

  • Pooja on 2015-06-15 10:44:46 AM

    Succession management needs to be designed as a continuous process that involves identifying and grooming high potential and high performing employees (HIPOs), so that they can be retained in the company.

    Assessing competency and skill levels of current workforce, analyzing external sources of talent and identifying talent with critical competencies, should begin early on in their careers.

    The performance potential graphs or 9-grid box can allow you to quickly gather data from your organization and identify employees on the basis of the ratings and comments given to them by their managers. These rating are generally assigned on the basis of the employee performance, corporate values, and perceived potential.

    You can read more about the 9-grid box here:http://bit.ly/1INVUDz

HRM Online forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions