How to Engage and Retain Talent with Technology

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With 86 percent of millennials considering growth opportunity as a big motivator for staying with your company, career pathing is now more important than ever before. We share three benefits of formalizing career pathing programs and how technology can help achieve the outcomes you desire.

Employee engagement and retention are intrinsically linked. Employees who are satisfied with their employer are likely to be more productive as well as being vocal advocates for your employer brand. But engagement, in spite of being a billion-dollar industry, continues to be a challenge for most HR teams. That’s where employee development and career pathing comes in. A robust career pathing strategy will make your workforce feel like the organization cares about their professional progress and is willing to invest in the same. Additionally, a preemptive career pathing program could be the bedrock of a larger succession planning vision. Let’s delve into these benefits in greater detail.

Also read: Top 10 Most Important Features to Look For In a Career Pathing Software

Three Reasons Why You Need Career Pathing Technology

  • To Boost Engagement Levels – It’s no secret that modern employees want more than just adequate compensation. They require a personalized plan for their own individual career path, without which they are likely to look for greener pastures outside their organization. By assisting your workers in formulating their career pathing goals, you not only help fill internal vacancies (without incurring hiring costs), but also uncover valuable insights into their skills, competencies, and learning gaps, if any. As a result, the employee is continually engaged across their tenure in the company and look forward to newer avenues, in an organic and incremental fashion.

    “Several HR technology innovations are giving companies an opportunity to improve efficiencies while also boosting employee engagement and retention. Career pathing software is one of those trends, offering a solution for career management for the short- and long-term,” says Linda, Ginac Chief Executive Officer at TalentGuard

Also read: How to Recognize Employee Accomplishments With the Help of Career Pathing Software

 

  • To Reduce Churn Rates – Did you know that 86 percent of millennials report L&D and growth opportunities as a major driver for staying with a company?  To prevent attrition in this segment and ensure a form of continuance across their employee journey, it is vital to pay attention to their career pathing goals. This will help them become aware of possibilities within the organization, preventing them from continually looking for better opportunities elsewhere. Given that employees start looking for new roles early on in their tenure, getting a headstart into their career pathing objectives could be a game-changer.

     
  • To Ease Succession Plan – Faced with formidable skill-gaps at every level, employers often struggle to find the right candidate for a role. This significantly impacts productivity and business continuity. Career-pathing technology can help prepare for the future, showing a clear overview of available skills and competencies. Any gaps can be addressed by L&D, making sure the right candidate is ready for the right role at the right time. Or one could even initiate a preemptive hiring program if it is found that the available talent pool is simply not enough to address future requirements.

Also read: The 3 Questions That Will Up Your Millennial Career Coaching Game

How Career Pathing Software Can Help

Traditionally, career pathing has been an informal initiative, left to hiring managers and team leads. This was based on intuition and implemented via cumbersome paperwork, leading to human errors and slips in terms of operational requirements. Career pathing programs are also delayed when following these outmoded structures, relying on siloed practices that may be out of sync with larger organizational requirements.

A dedicated career pathing tool brings the power of data, visualization, and automation to employee progression mapping. An individual’s proficiency standards can be matched to various career levels, with recommendations for certificates as and when needed. Opportunities for crossover can be identified, enabling vertical and bilateral promotions. Essentially, what a career mapping solution will do is digitally integrate the various tools, mental notes, and paper-based models used across the company into an easy-to-govern and deploy whole.

“Career pathing software can be a powerful tool in HR management for companies large and small. However, organizations need to ensure they are getting the right set of features with their software selection before making an investment,” Linda adds.

TalentGuard is an end-to-end talent management suite which also offers a specialized career pathing module. It takes the basic tenets of performance management and realigns the same according to organizational successional planning targets. TalentGuard’s career pathing software bundles performance gap analysis, coaching & development, and career progression guidance into a single, comprehensive platform. This is augmented through detailed dashboards and reports, keeping every stakeholder on the same page about each employee’s career path progression.

Also read: TalentGuard Announces Integration with Workday

Solutions like TalentGuard bring an essential employee-centric perspective to the HR function. Today, it is important to note that compensation management is not enough; to engage and retain the brightest minds out there, it is important to connect with employees on a personal level and match their needs to what your company is aiming for.

How are you working towards a proactive career pathing program at your organization? Let us know in the comments below.

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