Home//The return on investment
-
The Return on Investment of Career Development
According to Edwin Trevor-Roberts of Trevor Roberts Associates (read full story one & two), an effective Career Development strategy is no longer a 'nice-to-have' initiative. A recent article in Asia Pacific Journal of Human Resources found:
- Career development programs have a positive correlation to the quality of working life, job satisfaction, professional development and productivity
- The higher the level of satisfaction that employees have in their jobs, the higher their professional development and productivity
- Career development programs that provide career coaching (eg help employees realise their potential, improve job performance, achieve work/life balance etc) have a greater impact on the quality of working life, job satisfaction, professional development and productivity than task-related career development activities.
Career development doesn't cost, it pays!
Other positive, flow-on effects of a good career development program may include:
- more successful retention of valued staff, which means retention of priceless corporate and product knowledge, and better customer relationships
- greater awareness of your employee's personal and career aspirations and therefore better utilisation of talent
- confident employees with skills to manage their own careers
- resilient employees who can better handle organisational change
- improved job satisfaction
- a higher skilled workforce
- a more productive and engaged workforce with improved morale
- better communication between managers and employees on all business issues.
