The #1 reason why you’ll leave your (current) job is: lack of career development a.k.a. growth opportunities.
From first glance there’s an assumption that includes a promotion, but not necessarily. The need for career advice is on the rise because most people don’t know what they want to do and/or they change their mind often. Blame social media or a plethora of options, but regardless its reality. Let’s start from the company’s perspective:
Why should we invest professional growth resources into employees who might end up leaving?
First response: efficiency. Back in 2008-09 when the recession started, the first thing to go was “luxury” items such as training. Jobs were being cut drastically and our economy went in the tank. The only job that was safe was: sales (gotta make money to stay in business). If you want people to perform better, they have to be trained. Some companies take the shortcut by hiring “experienced” workers then throw them in the fire. That’s one approach, but even if they know the skill set to accomplish the work, the culture is still a mystery. The reason most leaders micromanage is because they never train people under them properly. Part of career development is training on the job (feedback included) and figuring out if the role is a good fit. If it’s not, here’s the perfect segue into the next point.
Second response: saves time/money. If you’re concerned about pouring into an employee, then having them leave, don’t. If you had someone working for you and they didn’t want to be there wouldn’t you want to know earlier than later? Hopefully this gets caught during the interview process, but if it doesn’t training only reveals it. If you’re working for a company who invests in your professional growth, wouldn’t you be more motivated to work harder for them? This may sound too altruistic, but most people’s performance starts to decline (outside of personal issues) when they feel undervalued/under-appreciated. Practically speaking, helping people navigate their career path will provide clarity for the individual as well as the company.
In simplistic terms, here’s the equation: if my company takes care of me, I will take care of their customers.
Great customer service = brand loyalty = higher profits.
The most direct way to take care of people is invest in their career growth.
This is not a futuristic concept. This is current.
Retention is tied directly to career development, or lack thereof.