According to a recent survey report, most businesses are experiencing different opposing challenges such as restructuring and economic downsizing due to COVID-19. These negative situations result in a few ranked positions and require improved productivity while embracing the constantly changing technology. Therefore, all businesses should promote their existing workers to a specific rank instead of hiring new candidates from the market. Because the already existing employees know much about the culture of a company and do not require any training.
The process of career development is significant for both the employers and employees of a company. The career development program consists of the transformation of a career plan into action in order to attain career goals. Following are three main heroes who are mainly concerned with an employee’s career development.
The HR manager must have complete knowledge about the tools to enhance the proficiency of the system since a manager plays the role of a consultant while the system is being used in an organization. The managers are responsible for developing and designing a good career development plan for the company. These career development programs will be more effective if integrated with a company’s current training and development policies.
There are various career development organizations that are striving to design a well-planned career development system that can fulfill your company’s needs and requirements. A carefully designed career management system will benefit your business and help the managers and employees form good communication with each other. Each part will get different benefits from a properly designed career development plan and combining all, they can set a unique organizational culture that supports enhanced productivity levels.
Benefits of Career Development System to Businesses
Once a company gets a better knowledge about their employees’ weaknesses and strengths, values and future aspirations, attitude and behavior with competencies and skills, then it will be able to put employees’ skills in the required place and make better use of them. Following are the significant benefits achieved by an organization through a career development system.
- The organization can distribute important information and all details at all administrative levels in order to achieve effective communication at all levels. The career development system mainly emphasizes better communication skills within the company as a whole.
- It will also help businesses retain their valued employees by showing them real concern about their careers and providing them with all they need. As a company knows all the details of its employees, so it can easily make an effort to retain the employees.
- Career development organizations can help a business stand out from the crowd and builds a good reputation in the market. Most of the working people take it to build a career and get attracted to the organization.
Benefits of a Career Development Program to Employees
- One of the major benefits of a well-planned career development system is that it provides guidance and helpful assistance to employees with career decisions. Through a career development plan, an employee can better know about his desires, objectives, and aspirations and understand how to shape his career.
- Through career development programs, employees can set more realistic objectives and goals that can be easily accomplished over the total span of their lives.
- This program leads to enhanced job satisfaction and job enrichment.
- It helps to establish good communication between the manager and the employee at different levels of the organization.
- Employees can also get feedback on their performance, which improves their productivity and encourages them to upgrade their skills.
Benefits of a Career Development Program to Managers
- A career development program can help managers improve their skills in order to upgrade their own careers.
- It helps in fostering effective communication between employees and managers.
- It helps in discussing productive performance appraisal of each employee and planning promotion with their career graphs.
- It will help you understand the culture of a company as a whole and nurture a conducive and supportive culture in the organization.
- It can help managers identify the hidden characteristics of employees and ask them to allocate to the right job that suits their competencies and skills.
According to a research report, every business has experienced a tight job market during this pandemic, so; employers should invest all their efforts in attracting the most qualified talent. In order to enhance productivity and financial returns, employers should start investing in their already existing employees through career development programs. While planning and designing a career development system, you need to consider particular factors such as the nature of the business and industry and business environment. Although this entire career development process in an organization is internal, there are also some external environmental factors such as economic conditions, current trends, job, market, etc., that can equally affect this process.