Career advancement - is it important to employees?

The desire for career growth is not a given for employees. Not everyone wants to rocket up the corporate ladder. After all, not everyone has huge career ambitions – some people just want to pay their bills. But that does not mean that the employee is inferior. Such an employee delivers consistently stable performance for many years and forms a solid pillar that you can lean on in crisis situations, provided they are properly valued and motivated.

Employees who want to advance are mostly motivated to achieve their own goals and are willing to do things beyond their job responsibilities for it. The second group consists of exceptionally skilled workers who achieve above-standard performance and bring innovations to the company, ultimately leading to higher revenues.

Both groups represent a great advantage. With proper motivation and compensation, they are an extraordinary asset that the company can benefit from for many years after they leave.

Almost every company has at least one capable or ambitious employee. It's not uncommon for these people to be invested in, whether through training or various bonuses.

In fact, 78% employees reported in a Mercer study that they would stay with their employer longer if they saw opportunities for career advancement ahead of them.  When you consider that losing an employee costs a company up to a third of their annual salary, it’s worth considering ways to motivate employees to stay with you longer. This should definitely be part of your human resources strategy.

Career advancement is the second most common reason employees consider leaving a company.  Those who don't see career opportunities are four times more likely to leave, and that's as soon as next year.

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How do employers approach career growth?

Len 28% companies consider internal candidates when filling open positions. Less than two-thirds of employees feel that they have potential career opportunities in their current job.

If you do not support the career growth of your employees, they may feel resentful. This could lead to a negative atmosphere within the team in the future, which can in turn affect productivity and work efficiency.

There's no need to panic. According to a 2017 survey by BlessingWhite, up to 85 percent of the workforce sees no problem with staying in the same job, as long as they can continue to develop their skills.

What does that mean for you? Support people who want to educate themselves, grow, and thereby bring benefits to the company. On the other hand, accept employees who have been doing the same job for years, feel comfortable, and do not wish to develop further. Their stable approach to their duties may come in handy during times when the team starts to fall apart or the company goes through a more turbulent period.