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Clear career paths aid retention

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Friday August 28, 2015 Written by  Retain Canada
More than three-quarters of employees report they would stay with their current employer if they knew their career path with the organization.

As workforce hiring increases, concerns about engaging employees and retaining critical talent are top of mind for organizations. But, according to Mercer’s latest survey of Canadian and American workers, one-third of employees (32 per cent) consider their employment to be a job, not a career.

“The dynamic interplay of multiple trends – a disenchanted workforce that is multi-generational, skill shortages, global expansion, and gender equality – is creating real challenges for managing talent,” said Ilene Siscovick, partner and North America talent and career leader at Mercer. “By outlining specific skill sets for career paths, organizations can help employees better understand growth potential within the company and improve overall efforts to retain and motivate their existing workforce.”

Other key findings from the survey include:

  • More than half of employees (51 per cent) report they receive “no input” or “input only once in a while” from superiors on how to perform better in their roles.
  • More than one-quarter of employees (28 per cent) have considered leaving their employer and moving to a competitor within the last 12 months.
  • When asked if their company makes it easy and transparent to understand opportunities for advancement within the organization, 26 per cent report “not at all” or “hardly ever.” Another 27 per cent say this happens “only from time to time.”

“Clearly, lack of communication from managers along with lack of transparency about career progression within the organization is impacting employee loyalty and hampering retention efforts,” said Siscovick. “By defining advancement opportunities and conveying related competencies, companies can equip employees with the necessary information to grow professionally and financially while improving engagement efforts and optimizing a workforce that effectively contributes to business success.”

The survey was conducted in February and March and includes responses from 1,520 employed workers in Canada and the United States.

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