A recent study by HR.com's HR Research Institute, titled 'HR.com's Future of Career Development and Mobility 2024-25', has brought to light significant shortcomings in employee career development programs across various organizations. With only 20% of companies achieving the top two levels of program maturity, the findings underscore a critical need for improvement in how organizations support their employees' growth and development.
The research reveals that a mere 37% of organizations feel effective in career development, and just 42% report success in internal mobility initiatives. More concerning is the fact that only 22% of organizations provide adequate development opportunities to meet workforce demands. This gap between employee expectations for career advancement and the actual support from employers could place organizations at a disadvantage in attracting and retaining top talent.
Managers play a pivotal role in employee career development, yet the study identifies several barriers. In 34% of organizations, managers discourage internal movement to retain high performers, potentially limiting career growth. Additionally, only 15% of companies have managers with the necessary skills to effectively develop employees, and a scant 10% recognize and reward managers for their efforts in this area.
Debbie McGrath, CEO of HR.com, stresses the importance of equipping managers with the right tools and incentives to foster employee development. The study's findings suggest that organizations must take proactive steps to enhance their career development strategies, including training for managers, creating clear career pathways, and promoting a culture of continuous learning.
The full report, HR.com's Future of Career Development and Mobility 2024-25, provides detailed insights and recommendations for improving career development initiatives. As the talent landscape grows increasingly competitive, prioritizing employee development is essential for building a skilled, engaged, and loyal workforce capable of meeting future challenges.
