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S6E19: How Career Paths Can Help Reduce Turnover Now

Best Christian Workplaces : May, 10 2021

Uplifting Growth

S6E19: How Career Paths Can Help Reduce Turnover Now

Are you looking for a tool to help develop, promote and retain your top talent? Does your organization need to be more innovative and flexible to meet the challenges of today and tomorrow? Giselle Jenkins, Consulting Director at Best Christian Workplaces, examines creating pathways that grow and develop people, guiding them toward their best, and preparing them for challenges- which is a huge advantage for any organization.

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In this episode:

Why the topic of career paths is incredibly relevant for organizations right now (02:34)
"We’re seeing two distinct shifts" (02:43)
- The first current shift is a sharp increase in the demand for a clear career path.
- The second current shift is the simplification of the approach for career plans.
BCWI has administered thousands of employee surveys in the last year. In these surveys, many employees say, “I’m looking for a career path at my organization.” (03:03)
There are two very different perspectives with career paths (03:30)
- A leader gives reasons why career paths won't work in his/her organization
- Employees say they want to develop, grow, and see a clear path for their career
"This gap between how management and employees see an organization without career paths is striking. And to top it off, pretty much all the forecasters out there are telling us that voluntary turnover is going to skyrocket in 2021" (04:31)
Therefore, we need to find out what will engage employees and take action (04:42)
What exactly are career paths? (05:05)
"Career paths steer people in the direction they want to go at a specific point in their life. They help people see how to grow and develop a successful career, as well as what the next role or assignment could be on their chosen path." (05:12)
Why should organizations take the time to offer career paths to employees? Do they really pay off?  (05:54)
"Career paths and development plans are shown to be one of the most successful retention tools, saving organizations thousands of dollars, maybe even tens of thousands of, in turnover cost for each departing employee." (06:28)
"Less than 10% of the activities on career paths involves any direct financial investment." (07:26)
Can career paths fit any size and structure? (8:43)
How can leaders start to take action and design career paths for their own organization? (12:13)
Two ladder paths: The Management Ladder and the Specialist Ladder (17:03)
"Leaders should realize that implementing career paths is most effective when it is part of the organizations’ strategic plan. " (18:37)
The three questions every leader needs to ask before launching a career pathing program (20:01)
- What will we promise?
- Who is the executive sponsor?
- Which paths will we offer?