From on-site gyms and daycare facilities to competitive salaries and creative incentive packages, today’s organizations are increasingly doing everything in their power to attract and retain talented employees.
One area many companies neglect, however, is career development.
Exceptional employees want exceptional careers that challenge and inspire them. They want to feel motivated and interested on a consistent basis – and it is this continual investment that translates into higher retention and profitability for the company.
Career pathing programs offer a proven path to such motivation, but their many benefits are only seen if the programs are set up effectively.
Here are four things every successful career pathing program has in common:
1. They encourage vision
What can a talented employee accomplish inside your company? Where can he go? What can she do? A successful career pathing program reduces boredom and increases engagement by helping employees imagine exponential growth – professionally and personally.
2. They provide scaffolding
What will it take an employee to realize their professional dreams? What does she need to know to move from one job role to another? What experience does he need to obtain? A career pathing program that builds and retains top talent offers numerous mentoring and training opportunities for employees who want to embrace new challenges.
3. They incorporate competencies
Mentoring, visioning, and planning aren’t enough for success if employees don’t know of and excel in the competencies required for success in their specific fields and positions. What characteristics do the outstanding performers in each position possess? What behaviors are crucial for success? Effective career pathing programs build paths based on job role competencies and make that information accessible and meaningful to employees.
4. They’re based on data
A truly successful career pathing program is built on data and uses that data for accountability, helping managers and employees analyze how each employee is – or is not – progressing along his path and toward his dreams. This data is often gathered as part of a comprehensive performance management system.
Career pathing programs that include these four crucial elements are most effective at retaining top talent. They also enable management to fill important roles quickly.