28 Jul 2022

Career Development: The Secret To Driving Better Employee Retention

Career Opportunities Program | Exacta Solutions

Starting a career development program is an effective way to reduce employee turnover rates.

A lack of career development opportunities is a key reason why many people leave their jobs. Today’s professionals are increasingly looking to build meaningful careers that fill them with purpose. As soon as they feel their employer isn’t allowing them to reach their full potential, they will begin to look elsewhere for a satisfying job. And while investing in the training and education of your people may seem like a major undertaking, which really only benefits employees, the truth is businesses stand to gain a lot in the long run too.

In this article, we’ll reveal the top benefits career development programs offer employers and employees alike. We also explore ideas to create better opportunities for professional development in the workplace.

The benefits of offering career development opportunities

Benefits of Career Development | Exacta SolutionsSkills & knowledge advancement

An immediate benefit to offering training and development opportunities is that it ensures employees remain relevant in their career field. Once an employee secures a comfortable job, it may prove difficult for them to keep on track of all the latest trends in their line of work on top of holding down their full-time responsibilities. That’s why it’s a great incentive to offer upskilling opportunities as part of the company culture. Not only will this ensure employees continue to improve themselves, it also means the company will benefit from a more valuable workforce that is capable of handling tasks more efficiently and in line with today’s best practices.

Improved employee job satisfaction

No employee wants to feel as if they’ve peaked in their career or are in a stage of stagnation. This can lead to boredom and frustration, which will naturally have a negative effect of productivity and performance. Professional development is a morale booster. It keeps talent engaged and inspires people to strive to be better, especially once they begin to see how their new skills and knowledge is enabling them to perform their job more effectively. All in all, this improved confidence will result in higher overall job satisfaction, ensuring employees feel they are of value to the company.

Increased employee retention

High employee turnover is a constant headache among today’s businesses. The simple truth is that career development programs are one of the simplest ways to improve employee retention. This is because it enables employees to envision a bright future with your company. When talent sees that you are actively supporting them to climb up the promotional ladder, they are more likely to invest their time and energy into building a long-term career with you. That’s why career development programs are increasingly becoming an essential HR tool to keep employees engaged and loyal to the company.

How to create better career development opportunities at your company

There are many ways to develop a successful culture of learning at your company. Here are some top tips to build a career development progam that caters for your talent.

Professional Development | Exacta Solutions1 – Consult employees about their career goals

If you’re really serious about retaining talent, then it’s essential to discuss their career goals with them. Understanding where your employees wish to head will make it easier for the company to offer the right support to get them there. It’s also important to schedule in regular one-to-ones with employees to not only review their performance, but to see whether there are any areas where they would benefit from additional training. Each new skill or certification they achieve is yet another steppingstone on the way to their ultimate career goal.

2 – Offer a variety of career development opportunities

As the saying goes, there are different horses for difference courses. Not everyone learns in the same way. That’s why it’s best to be flexible in which types of career development opportunities are available to employees at your company. These can range from mentorship programs, job shadowing, and career coaching to more formal educational courses, industry certifications, lunch and learns, and more besides. Keep track of which opportunities are proving most popular and effective, and build a holistic culture of learning that works for your people.

3 – Form alliances with educational bodies & industry speakers

It’s not always feasible to invest in in-house training and professional development. That’s why it’s a great idea to reach out to leading certification bodies in your industry to ensure your people have easy access to the best educational resources in the market. Inviting leading experts to come give talks is another great way to educate and inspire your people to excel within their career fields.

4 – Harness the limitless power of technology

Thanks to the internet and mobile technology, career development is no longer bound to classrooms and educational institutions. There are countless online learning tools and resources that are specifically designed to make learning easier, more engaging, and less costly. This means that wherever your company is based, your people can enjoy instant access to the best minds on the planet, ensuring each member of your team can keep up to date with all the latest innovations and developments within your industry.

5 – Celebrate & promote worthy talent

There’s not much benefit in offering fantastic career development opportunities if you aren’t willing to promote your talent. It can prove incredibly disheartening to employees should they feel their efforts to better themselves professionally haven’t had an impact on their career. That’s why it’s essential to celebrate the achievements of your people through job promotions and salary increases, as much as possible. This will not only be incredibly rewarding for the employee in question, but it will also inspire others to rise through the ranks and strive to attain positions of greater responsibility.

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