How Does Long-Term Career Development Benefit Organizations and What Are Its Phases?

Hello! I need help. I need to know how long-term career development of employees helps an organization, and what are the different phases in the career of an employee?

A company that focuses on career development will tend to enjoy lower employee turnover than one that doesn't. Given that the average cost of employee turnover is between 70-100% of the annual salary (which varies depending on various factors), there is a lot of money at stake. So, spending money on career development will tend to save you money in the long run. Also, your workforce will be more highly skilled and usually more productive as a result.

Hello,

Long-term career development of employees

Long-term career development of employees in an organization provides an upper hand in the following aspects:

The organization will have a pool of homegrown managers who can replace those who leave the organization due to retirement, termination, etc.

A pool of homegrown managers greatly reduces the need to recruit managers externally, saving the organization expenses on training, development, and orienting them to the company culture.

Every successful employee has career aspirations. Career development programs help meet the aspirations of deserving employees, ensuring effective talent management and boosting employee motivation across the company.

The different career phases of an employee

The different career phases of an employee are as follows:

- Learning phase (entry-level/individual contributor)
- Research & Development Phase (supervisory level/supervisor)
- Strategic phase (managerial/leadership level/manager/functional head)

Each of these phases has an approximate time frame of 2-3 years, during which an employee is required to gain sufficient experience to progress to the next level/phase.

Thanks,

Naved.

Hi, I need help as well. I am working on a project about the role of career development in employee retention. If anyone could send me a related questionnaire, I would appreciate it. I have prepared one, but I'm not sure if it is correct. Can anybody please help me?