If we go by the research work done by many experts in the last 2 decades, we will find that employee engagement is more with increased productivity. There are a few things that boost the level of employee engagement. Primary among them is the relationship of managers with employees, job clarity, excellent working environment, and sufficient resources. The concept of career development is now given high importance to create a win-win situation for employees and employers. Here we need first to understand the idea of career development.
Career development can be defined as an organized approach which is carefully used for matching employee targets with the business goals of the company to support workforce development. The importance of career development are:
• Support employees in making excellent performance in the current job.
• Support individuals in getting the advantage in their future job opportunities.
• Fulfill companies’ goals for creating a dynamic as well as the productive workforce.
• It helps in attracting the best talents. Researches proved that career prospects, as well as learning opportunities, act as influencing factors when prospective employees are in the mode of choosing between different job offers.
• Offers excellent job satisfaction. Employees who generally participate in relevant training courses, as well as career development activities at the time of work, showed a higher level of job satisfaction as well as organizational commitment.
• Supports in retaining employees. Career development activities support in hiring employees and in turn, restricts turnover. When the calculation of the costs associated with making the replacement of a skilled employee made, it was found that it is almost 150% more than the cost of retaining an existing employee.
• It supports making enhancement in company productivity as well as financial returns. Investment needs to be made on employees via career development programs to encourage in improving financial returns.
We cannot deny the fact that the process of career development is vital not only for the employees but also for the employers. Career development activities will be fruitful only when employees and employers remain ready to accept the changing environment and behave accordingly. Employees should receive changes and keep upgrading their skills as well as competencies to match the current trends. On the other hand, organizations need to be ready to accept those employees competent to handle high pressure effectively and never give up to avoid the risk of becoming victim to the changed scenario.
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