According to a study by the Canadian Education and Research Institute for Counselling, only 30% of Canadian companies have a career management program. With a shortage in several sectors, it is still a good way to retain and nurture talent.
According to Cherine Zananiri, Vice-President of executive search at Optimum Talent, “career management is key to fostering employee engagement.” It is therefore not surprising that this process, which combines the needs of individuals with those of the organization, has become a staple in human resources practices.
Several studies have shown a direct link between the level of employee engagement and the overall performance of a company. “The commitment is associated with several factors: increased productivity, better retention, motivation, teamwork, less absenteeism and a tendency to innovate,” says Zananiri.
Since career management is aimed at preparing an employee the organization’s future needs, taking into account their strengths and interests, employers that offer this service are using an essential tool to retain and grow talent.
The numerous restructurings occurring in various companies in recent years have forced people to take charge of their own careers. “Managers, as well as employees, face daily questions,” states Zananiri. “Do I stay or I resign? Do I change careers or do I get involved in new projects?”
“Employees want much more than a simple assessment of their performance,” she says. They want to maximize opportunities for their careers. To preserve their talent, companies must provide the proper tools and resources for them to get there.
Being able to reconcile the organizational and individual needs delivers employers many benefits. Career management helps develop the company’s human potential, it increases flexibility, predicts future needs and motivates employees to achieve their career goals. It also brings a lot of benefits to employees: better job security, the possibility of developing and deepening their skills and meets basic needs such as esteem and gratitude.
A customized action plan
Career management is a collaborative process that can be done through workshops, evaluations, consultation meetings with an expert and regular contact with supervisor. The objective is to get the employee to set goals and establish a tailored development plan, so that they can increase their professional life in the business.
As Cherine Zananiri highlights, “these proactive career discussions, frank and open, are essential for identifying leadership, goals and career paths and for training. It is a partnership between the employee, the manager and the company.”
Ultimately, the people who make good career choices prove to be more satisfied, more loyal and contribute favorably towards business results.