Today’s workers have more transparency and choice of jobs than any generation before, which means retention is a critical component for employers across the globe. A variety of mechanisms have been deployed to keep people engaged at work, but research shows that one of the most valuable options of all is career management.
A variety of studies show that employee turnover can cost large employers millions of dollars annually in hiring and training costs, but what if these expenses were avoidable?
Put simply, helping employees to understand their skills and the skills of a future career opportunity creates a powerful conversation. Employees get real insights into how they can accomplish career goals, employers see where skills gaps occur and how to fill them with existing talent, and businesses reap the rewards of increased retention.
In this research paper, you’ll learn not only about the importance of taking a competency-based approach to career development–you’ll also hear case studies from employers that have made career pathing a differentiator in the ongoing struggle to find and keep the best talent.
Ben Eubanks is the Chief Research Officer at Lighthouse Research & Advisory. He is an author, speaker, and researcher with a passion for telling stories and making complex topics easy to understand.
His latest book Talent Scarcity answers the question every business leader has asked in recent years: “Where are all the people, and how do we get them back to work?” It shares practical and strategic recruiting and retention ideas and case studies for every employer.
His first book, Artificial Intelligence for HR, is the world’s most-cited resource on AI applications for hiring, development, and employee experience.
Ben has more than 10 years of experience both as an HR/recruiting executive as well as a researcher on workplace topics. His work is practical, relevant, and valued by practitioners from F100 firms to SMB organizations across the globe.
He has spoken to tens of thousands of HR professionals across the globe and enjoys sharing about technology, talent practices, and more. His speaking credits include the SHRM Annual Conference, Seminarium International, PeopleMatters Dubai and India, and over 100 other notable events.