Career development key to future-proofing your organisation

Business leaders must prioritise employee career development to future-proof their organisations.

Tepid economic recovery and rapid technological advances have influenced and caused significant changes to business dynamics in Australia.

Flatter organisational structures and fierce competition for talent mean that to remain successful, business leaders need to prioritise career development to future-proof their organisations.

Market expectations around the definitions of career also have shifted. The traditional notion of a job for life is fading; individuals are motivated by a career-for-me mindset. This highlights the importance of a one-size-fits-one approach to careers, to ensure new skills are developed and scaled as the market demands.

People often are socialised into job roles or functions.

Our research shows that one in five people is in the wrong job, and their low engagement is having an adverse effect on the business bottom line.

The latest ManpowerGroup talent shortage survey found 42 per cent of Australian employers cannot fill job roles because of a lack of skilled talent. This has an adverse effect on business success, reduces the ability to serve clients, and reduces their ability to remain competitive and productive. We must rethink how we develop and motivate individuals. To attract and retain top talent, business leaders must understand people’s career motivations and aspirations, and build a workplace culture that inspires them.

There are five ways to improve career-management strategies.

• Refine hiring practices. Organisations need a stronger focus on values alignment, learning capability, aptitude for growth and recruiting for soft skills when making hiring decisions, rather than looking solely at technical abilities. Hiring the person who can do the job but doesn’t want to is worse than hiring the person who may not tick all the boxes but intrinsically is motivated and has a willingness to learn.

• Listen to what makes employees tick. Employers over-estimate the importance of high pay to an employee. It’s important, but ultimately only part of the employee satisfaction puzzle. They also underestimate the importance of work-life balance and career development opportunities. Career development is a primary driver of employee engagement, retention and productivity. It will be crucial for organisations to become more agile and flexible.

• Ensure there is strong buy-in from leaders. Career development practices should be modelled from the executive level down, with all managers trained to have meaningful career conversations with employees to engage top talent and improve overall performance. Organisations need strong leadership to engage and inspire their workforces.

• Empower individuals to DIY. Job titles may be the same or similar to what they’ve always been, but job functions may have changed significantly because of digital disruption and the push to shorten time to value. For individuals to remain employable, they need to invest in their own learning and development. Organisations should empower their employees to do this.

• Make career development part of the organisation’s story repertoire. Flatter organisations provide a challenge to business leaders when it comes to identifying future career opportunities. Business leaders must ensure staff appointments are part of its natural story repertoire and advocate lattice career moves.

In future, industry-leading organisations will have the most talented employees because of their development ability, willingness to challenge the status quo and flexibility to change.

Bridget Beattie is Right Management executive vice-president, Asia Pacific Middle East.