A Guide For Your Profession And Careers Paths : Total Compensation Solutions
Think retaining your employees and top talent is all about pay? Think again. Studies consistently show that a combination of factors contribute to an employee’s decision to leave, including lack of career progression and advancement opportunities. In fact, 20% of employees are looking for jobs right now as the economy begins to show signs of improvement.
Having well-defined and communicated career paths shows employees you’ve thought about their future opportunities – and minimizes the cost of turnover.
It will also enable you to be more strategic when it comes to:
- Building job families and leveling criteria that clearly distinguish between job levels and identify training, key skills and opportunities for growth.
- Ensuring your newly built career pathing programs sync with your performance evaluation programs so you approach employees with a common voice and maximize efficiencies, performance and engagement.
- Succession planning and developing an organization for your company’s future.