Why is the focus on career development more important today than ever?

What are the experts saying?

“Career Development today is critical to the achievement of business goals. Employees should understand their own strengths, career goals and tolerance for work-life balance. Managers should have tools to assess potential, understand opportunities and learn how to develop their people. HR should identify and develop real-world career maps, show the paths of effective individuals as models, and provide tools and coaching to managers and employees. Executives should drive this process from top to bottom, to prevent talent hoarding and to improve transparency in the internal talent marketplace.” – Bersin by Deloitte Predictions for 2013 Report

 “Lack of career development or limited professional growth limits both employee “intent to stay” and willingness to recommend the company as an employer. Ineffectual managers, high turnover/low retention rates and limited career opportunities (perceived/actual) are cited as the key drivers leading to lack of career engagement.” – The Conference Board 2012 Research Report on Employee Engagement

Employees today are asking, “Can I see my future in your future?” See it, they stay. Don’t, you’ll see them leave or worse – quit, but stay. The Career Systems International 2012 What Keeps You Study, found that “58% of employees say they stay due to exciting and challenging work. Another 35% cited career growth, learning and development as a top stay factor.” Engagement is built on the platform of career development plans and having access to relevant, resources, and tools.

The experts are guiding the way and best practice organizations are heeding the warnings.