As a business owner or leader, it's common for work-related thoughts to keep you up at night. According to a study by Creative Leadership, one in four leaders lose sleep over work-related thoughts, and this is especially true for CEOs. The number one concern for sleepless C-Suite leaders is attracting and retaining talent.
Addressing this issue is essential in understanding why employees are looking for more self-driven career development options. In the past, employees viewed their place of employment as a lifetime career option. However, this mindset has shifted as employees are now more interested in self-growth and learning opportunities in addition to company-specific processes. Organizations that don't respond to this trend risk losing talented individuals and being less attractive to new hires.
The solution to this insomnia-producing problem is a shift to a human-centered approach that focuses on providing what employees and candidates seek. Specifically, providing opportunities for learning and career development is crucial. A recent LinkedIn study found that employees learning on the job were 21% more likely to feel confident and happy, 37% more productive, and 23% more likely to take on additional responsibilities. Additionally, 47% of employees felt less stressed if they were engaged in some form of learning within the workplace. Providing a learning environment increases the skill sets within an organization and enhances retention and attraction.
This human-centered plan has four key steps to address employee needs: Assess, Address, Implement, and Sustain.
Assessing the current construct of the organization and the specific skills of its talent is fundamental. Predictive Indexes, Skill Analysis, and Career Matching inventories are tools used to gather data relevant to skill development, initiative, and job suitability within the organization. It's also essential to ensure that the assessments are applicable to the type of workforce and include soft skills. Organizations should consider who will administer the assessments and what qualifications they have.
The next step is to use the data from the assessments and inventories to address the changes needed within the organization. This information provides a compass for the learning and development plan, which can include changes to team structures, career paths, and upskilling and cross-training opportunities. Having someone with a background in interpreting assessment results and designing learning opportunity paths is crucial. This person can align learning objectives with the organization's overall goals, contributing to the sustainability of the overall process.
Implementing the plan involves synchronizing new team structures, training on new skills, and using learning management systems. This step allows employees to engage with the program, leading to the overall goal of retaining talent and providing a workplace conducive to individual and collective growth. Training managers and supervisors to support their teams is crucial for successful progress.
Measuring the growth of the program provides sustainability. Consistent checks and balances built into the systems and processes make this possible. Reviewing and revising the program ensures that plans stay on track. Looking at the program from a fluid perspective is important for business leaders who want to solve the restlessness of their minds related to retaining employees and attracting new talent.
With the emergent focus of the workforce on self-growth and workplace satisfaction, business leaders are finding that providing development opportunities adds value to organizations. It enhances retention and attraction while improving productivity and engagement. The process is a continuum and an enduring solution to easing the minds of those at the helm.