Over the past few years, the tide has shifted. Employers now prioritize employee retention over attracting new hires. Research studies found that 63.3% of companies say retaining employees is more challenging than hiring them.
Businesses can use various tactics to engage top players and keep them committed. One of them is employee career advancement initiatives.
Professional growth opportunities help you engage your team, minimize the employee turnover rate and attract new hires. According to Udemy, 42% of workers believe professional development is the most important benefit when deciding where to work.
In this article, we unveil proven ways to support employee career advancement.
Offer Employee Recognition and Rewards
Employee engagement and motivation are essential to promoting career advancement. That starts by establishing a company culture that rewards dedication and exceptional work.
By valuing your employees, you will boost their morale. Employees want to know that they have done a good job. Above all, they want you to recognize their efforts.
When a worker feels that their efforts are appreciated, their performance levels grow. According to a survey by SurveyMonkey and Bonusly, 82% of workers consider recognition vital to their happiness at work.
For example, you can publicly praise employees for achievements or host events to show appreciation. Consider providing incentives, such as gift cards, surprise lunch catering, or a paycheck bonus.
Provide Transparent and Regular Feedback
According to studies, over 90% of employees would prefer that managers address learning opportunities and mistakes in real-time. When workers do not know their strengths and weaknesses, they cannot grow professionally.
That is why sending annual employee performance feedback is not enough. Instead, assess employee performance on an ongoing basis. Create detailed employee performance reports and distribute them weekly, monthly, and quarterly. The ongoing evaluation and reporting help employees understand the areas they need more training in.
Invest in Virtual Employee Training
Training is the backbone of employee career growth. As a manager, your goal is to encourage employees to pursue industry-specific courses and workshops.
Virtual learning tools deliver personalized and relevant employee education programs. Employees can use open online course platforms, such as Coursera or Udemy, to access industry-specific courses.
Via study libraries, students can access learning resources from trusted universities and research centres. For example, you can use platforms like Thinkswap to access Sheffield materials or download Griffith University essays.
Finally, invest in a learning management system. An LMS is a SaaS solution that helps companies build, store, track, and deliver employee training. It is a centralized virtual hub where learners can access learning materials, irrespective of their location.
With an LMS, you can simplify employee training and onboarding. Most importantly, you will deliver exceptional learning resources to both in-house and remote staff.
Enable Cross-Departmental Training Programs
Despite the growth of team collaboration tools, many businesses still struggle with the silo mentality. Their departments operate in isolation. Without effective communication, it is easy for one department to dismiss the importance of the work performed by another team.
To eliminate departmental barriers and increase workplace efficiency, invest in cross-departmental training programs.
One such example is customer service. Your customer support agents communicate with consumers and capture their complaints about a product. When they inform the production team about the issue, they can resolve it faster and improve user experiences.
Cross-departmental training educates employees about the importance of different business areas. It also helps you achieve cross-departmental flexibility.
When employees get a broader picture of what your company does, they can also take on new responsibilities. For example, you could move your engineers from prototyping to product development to bridge seasonal ebbs and flows.
Offer Mentoring and Coaching Opportunities
Over the past few decades, the business landscape has changed. The modern workforce no longer responds well to strict supervision and orders. To increase employee engagement and productivity, managers should behave more as their mentors.
For starters, do not be afraid to ask staff members if they need help. Motivate them to seek help and talk to you honestly. Consider mentorship the opportunity to pass on your industry knowledge and boost workplace competency.
Moreover, build a thorough employee mentorship program. That is a chance to create stronger bonds between new hires and your top staff members. Always set clear goals for the mentorship program and map out the process.
Help Employees Identify their Strengths
There is no one-size-fits-all approach to employee career advancement.
Professional growth opportunities depend on a wide range of factors. Some of them are an employee’s education, background, interests, and frustrations.
Self-awareness is essential to both personal and professional growth. Therefore, help your employees understand what they are great at.
Apart from their leadership skills and professional capabilities, you should also help them build their soft skills. Some of them are compassion, collaboration, teamwork, and independence. By encouraging these traits, you create future business leaders.
Keep Seeking Innovative Career Advancement Opportunities
In today’s hypercompetitive business landscape, employers are looking for new ways to retain customers. Skill-development and professional growth initiatives are your solid starting point. They boost employee engagement, improve their performance, and reduce turnover rates.