Employee retention is top of mind for many HR teams as the post-pandemic war on talent grows. There are many reasons why employees leave, but the opportunity for advancement is one of the top reasons given in exit interviews and surveys.
According to research from Robert Half, 38% of people surveyed feel their career has stalled since the start of the crisis. That number jumps to 66% for workers ages 18-24.
Even if there is not an opportunity for immediate advancement, managers should monitor employees with potential and learn more about their career goals. Talk to employees about their current skillsets, their contribution to the team or organization, and future opportunities for growth.
With Truvelop, ongoing evaluations can track performance, which can be used to analyze opportunities for improvement. The app can help managers and employees develop goals and track performance development in skills needed to achieve those goals.
In an article on the Robert Half blog, training and development is one recommendation for retaining employees, “As part of providing continuous feedback on performance, you can help employees identify areas for professional growth, such as the need to learn new skills. Upskilling is especially important today as technology continues to change how we work. When people upskill, they’re gaining new abilities and competencies as business requirements continue to evolve.”
In addition to skills training, consider assigning a mentor to an employee for additional support as they work towards a new role. Mentors can provide valuable insights, advice, and feedback, as well as answer questions a manager might not be able to answer, especially if the employee is working towards a lateral move or advancement opportunity in a different department.
According to Gallup, “Organizations that have made a strategic investment in employee development report 11% greater profitability and are twice as likely to retain their employees.”
Managers should be intentional in their communication with employees about future growth opportunities and the skills it will take to get there. A proactive approach will engage employees, make them feel valued, and help them see a future for themselves at the organization, all critical ways to retain talent.
Contact us today to learn more about our modern approach to performance management and development that actually improves the manager and employee relationship. Don’t just take our word for it, see what our Customers have to say.
