Current research suggests that replacing a valued staff member can cost as much as three times their base salary. Clearly it is much more efficient to hold on to your staff once you’ve got them, but is retention the primary intention behind career development programmes?

We were present the recent Asian Association of Career Management Professionals (AACMP) annual conference, held in April this year – the theme of which was Partnerships: Employer, Employee, Economy.

The conference explored the traditional career development of retention, recruitment and performance management. However the significant focus was on the way different approaches and organisational practices determine whether career development becomes an investment or liability for workplaces, the need for closer linking between personal development and career development, and work-life harmony.

Of all the factors that prevent employees from leaving an organisation, only a handful of these relate to money in some way.

A commonly quoted reason for remaining in an organisation is the opportunity for career development/skill enhancement.
Simialrly, key reasons people choose to leave a job include poor training and personal development opportunities.

But should retention be the primary goal of career development programmes? With an aging workforce as the baby boomers move through, there is an argument that much more attention should be paid to the transitional aspects and needs of this group of workers.

Some researchers suggest that only 13% of any organisations workforce are critical to the competitive edge of that organisation – and ‘retained’ employees are not necessarily high-performing employees simply because they choose not to leave.

Although retention is certainly much more efficient in the short-term, approaches that value ‘retention at any cost’ are not going to translate to a smart or sustainable long-term business strategy.
The key is to attract and retain the right talent, engaging their values and drivers to align their activity and energy with organisational outcomes. At the intersection where employee interests, skills, and motivation meet organisational needs and outcomes, you will find both fulfilled staff and high performing organisations.

If we are to engage people at work, and have them stay engaged, we must come to understand their core motivations. These are some of the key elements that motivate employees in today’s organisations:

• The desire to maintain a positive work reputation
• The perceived importance of the work
• Appreciation from others
• Opportunities to prove our capability to others
• Interesting work
• The opportunity to prove our capability to ourselves
• Enjoyable co-workers
• The expectation of improved chances for promotion
• A personal desire to please their immediate supervisor
• Expectations of financial reward
• Fear of negative consequences

However, having highly motivated employees is not in itself sufficient – although it is certainly a major step in the right direction.

Ultimately, a successful career development system is one that successfully aligns individual and organisational needs. A successful, and sustainable approach to career development will be one that identifies the individual aspirations and abilities of employees, aligns these with organisational needs and then develops and rewards staff as they apply their energy to these outcomes.

Essentially, an ideal career development system helps managers use organisational needs as a way to create practical opportunities for employees to apply their core skills and motivations.

An integrated approach…

Disciplines such as performance management, remuneration strategies, training and development, recruitment and retention, competencies, career planning, job descriptions, and strategic planning and business goals need to be incorporated in order to achieve a more successful, more sustainable approach to career development. 

All of these elements – when combined together in an integrated way – assist in ensuring there is alignment between individuals in your workplace, their own development processes, and your business strategy.

A successful, sustainable career development system must incorporate the broader range of HR practices. An ideal career development system provides the context that allows these separate practices to work together in an integrated and natural way.

Any career development strategy must also  take into account the changing demographics of your workforce. What is required to retain valued older workers for whose career stages are needs are quite different from the needs of the generation of new workers? What are their development needs - how do these differ from other areas of your workforce and what’s the best approach to supporting these?

Getting started…

Talk to us about your organisation’s career development needs. We can help with the development of the overall strategy as well as the delivery of any of the individual elements within that strategy.

In the meantime, here are some questions for you to consider as you think about these topics in your workplace:

• Do you have a well thought-out and articulated approach to career development? Has it been communicated with staff?
• Do you currently have a structured career development programme?
• Are career development discussions an integral part of performance and development processes in your organisation?
• Are your staff equipped and supported to manage their own careers – both inside and outside your organisation?

Career development is about so much more than simply retention. We need to begin thinking much more broadly about career development – when done well, instead of simply supporting retention, it can provide a significant competitive business strategy.

Contact us for more information