Education is extremely essential for each employee from his own perspective as well as from the organization’s perspective. A few courses are beneficial for all the employees regardless of the difference in their job specifications. Such courses may include managerial abilities, creativity, group collaboration, organizational policies and objectives, leadership and so on. Employees may be given a chance to choose from a variety of courses. Covering outside events, workshops and seminars would also be a good idea.
Sending employees to analyze the operations of the retail market is another practice that has been seen in recent years. Employees are given a chance to visit the retailers so that they can see the different stages which their finished products have to pass through before reaching the consumers. Furthermore, they get a better understanding of the requirements and the problems associated with the finished products as they are seen from the consumer’s perspective.
They also get a chance to interact with retailers and such an interaction may give birth to new ideas and products as these employees are more likely to get updated information about the latest market trends and the desires of consumers. Nowadays, a large number of
This practice would ensure that the workforce is equipped with the latest technical knowledge and expertise. It will also help in the retention of valuable employees if such a practice is included in the organizational policies. Employees will have assurance that they will always get a chance to give the latest certifications if they stay within the organization. To reduce the turnover rate even further, managers can interconnect successful achievement of the latest certifications with promotions or increased salaries.
Successful execution of the above mentioned policies can help a lot in the reduction of employee turnover rate. Application of similar procedures in a company dropped down the turnover rate to almost one-third of the original rate within a relatively short period of 2 years. (Campbell, 2001) Continuity has been observed in the succession planning and career development. The organization’s current and future needs are fulfilled by the alignment of personal aspirations of the employees at the timing of the linkage of this continuation with the vision of the organization.
Thus, a mutually beneficial environment is created in the organization. “Internal career development programs are proving critical in keeping valued employees while concurrently ensuring greater control over the succession planning process. Retention research indicates that individuals tend to stay longer where they are experiencing personal and professional growth. ”(Gaffney, 2005) Better retention rates are realized by the active collaboration of the employers with the employees. In this way, company goals are set up by the alignment of career direction of these employees.
The organization observes longer stays of the employees, by whom, personal development report is actively involved, in order to get more satisfaction in the organization. In a growth-oriented company, happier and more productive employees are created by career development and succession planning. Positive bottom-line results are experienced by the organization, when mutual corporate and individual growth is done for the future needs of the organization. As part of the systemic structure, succession planning and retention are incorporated by the ongoing business strategy.
In this regard, organizational goals are fulfilled by developing internal career, and by training initiatives, as well as, their mentoring, coaching, evaluations, annual reviews, and orientation programs. The needs of both employees and employees are fulfilled by the reviewing of career development, as well as, succession planning. A reciprocal and equal victory is perceived by the each side of the equation. A select few for specific leadership positions were targeted by a point-to-point progression, which was defined by the traditional career paths of yesterday.
In the past, organization was more connected with the loyalty of the employees, static and continuity were observed in the environment, and thus, career-management programs were successful. However, today’s world of work does not allow these conditions. Now, a way of organizational life consists of job jumping, career changing, volatile industries, and shifting work environments. In this regard, significant change has been observed in the contracts between employer and employee. Development of a new contract is done at the time of understanding of employees regarding their needs, as well as, their personal career aspirations.
In addition, generation of internal business partners for the success of the organization is done, as employees are shared with the corporate vision beyond plaques on the wall. The needs and requirements are discussed with the help of a two-way information flow between the employer and employee, which allow the awareness and mutual expectations to be clear between each other. Corporations’ bench strength requirements are fulfilled and fitted by the employees and strong players, as companies are able to know their needs.