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How to Improve Employee Retention and Company Performance with Career Pathing

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Four Steps to Successfully Implement Career Pathing

Career pathing is a structured, comprehensive development planning process to help employees visualize their career growth within the company. Career pathing is a proven program by which successful transitions of employees can occur. It helps with succession planning, employee engagement, skills attainment and alignment between employee and company objectives.

There are several reasons why companies have not implemented career pathing: Years of traditional employee processes; resistance to changing those processes; fear of employees expecting advancement once they have a career path; belief that these solutions are costly and time-consuming; and expecting implementation will be complex and resource-intensive. In reality, understanding the steps involved in implementing a successful career pathing plan helps ensure a smooth transition for the company, rapid implementation time and immediate as well as long-term ROI.

Here are four key steps to consider when building out a formal career pathing initiative:

Four Steps to Successfully Implement Career Pathing

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How to Improve Employee Retention and Company Performance with Career Pathing
How to Improve Employee Retention and Company Performance with Career Pathing

Four-and-a-half years. That’s the approximate length of time the average employee stays at one job. Younger employees hop more often, however, with most leaving a mere two years after hire. With disengagement rates topping 71.1% in the Millennial workforce, this is hardly a surprise.

Fixing Stuck: Engaging Employees With Career Pathing
Fixing Stuck: Engaging Employees With Career Pathing

Lack of engagement is a wide-spread problem according to numerous studies, with anywhere from a fifth to 84% of employees claiming to be actively unhappy at work. The vast majority of these employees are also considering or have considered quitting. Desire to “move up the ladder” and “lack of opportunity for advancement” were cited as major reasons for this desire by 20-30% of respondents in one study. In fact, according to that same study, the vast majority of employees feel “stuck” in their careers, with less than 25% able to see a clear career path in their current job.

Empowering Employees Through Career Pathing
Empowering Employees Through Career Pathing

Employee engagement across the U.S. continues to remain stagnant – hovering at about 31 to 33%, despite the topic’s trending status in management circles. In fact, according to Gallup, that percentage hasn’t budged since the year 2000, which means that for more than a decade only 1 out of 3 U.S. employees has been engaged […]