According to a Gallup survey, 93% of workers advance in their careers by taking a position with another company.
Furthermore, a Pew Research Center survey found that the top 3 reasons workers left a job in 2021 included low pay, no opportunities for advancement, and feeling disrespected at work.
This shows that many companies aren’t doing a great job at creating a vertical career path for their employees where they can expect to see steady growth in their responsibilities and rate of pay.
Having a career pathing program in place can address these top reasons for employees leaving and help boost retention rates and recruiting efforts.
A career pathing program is designed to help employees visualize what career progression will look like for them within a company.
An effective career pathing program outlines clear milestones and provides the development opportunities to help employees reach these goals. It would also consider the individual strengths and goals of the employee and identify what type of progression may be most fit to their particular interests.
Some additional benefits of career pathing include:
1. Retaining and attracting top employees. A company that’s openly invested in its employees’ future stands out from the rest.
2. Giving employees a sense of direction and purpose. When employees have clear goals and milestones to work towards, they will constantly feel forward-moving momentum.
3. Boosting engagement and productivity. With a clear career path mapped out, employees will feel more motivated about becoming top performers to move to the next milestone.
4. Reduced employee turnover. Employees who know they are on track for advancement have less reason to leave for a job promising better pay or a higher title. One Glassdoor study found that workers who were stagnant in their roles for a year or more were more likely to entertain recruiter inquiries.
5. Increased diversity in positions of leadership. Effective career pathing allows everyone similar opportunities for advancement, resulting in more diversity in the leadership at the top.
Schedule a discovery call today to learn more about how we can help you promote overall organizational health and the individual wellbeing of each member of your team while boosting productivity and profitability.
Adeola Mead is a Naturopathic Physician with 15 years of clinical experience.
Vitaliteam Workplace Wellness helps organizations implement wellness initiatives that improve mental and physical health while creating a culture of camaraderie in wellness.