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Career development and succession planning go hand in hand. When they are linked to the organization's vision, employees can align their personal aspirations to the organization's current and future needs, creating a mutually beneficial environment.
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. Employers who actively partner with their employees to align career direction with company goals are realizing better retention rates. Employees actively involved in their personal development report more satisfaction with their work and tend to stay longer with the organization.
Career development and succession planning synergy creates happier and more productive employees in a growth-oriented company. The organization experiences positive bottom-line results while preparing for future business needs based on mutual corporate and individual growth. The ongoing business strategy incorporates retention and succession planning as part of the systemic structure. Internal career development, training initiatives, mentoring, coaching, evaluations, annual reviews, and orientation programs are meaningfully connected to organizational goals. The result is a workable process that consistently addresses the corporate requirements for finding, keeping, and placing talent in key positions as needed.
Case for Career Development and Succession Planning Synergies
Viewing career development in conjunction with succession planning provides the organization and the individual with what is needed and wanted by both employer and employee. Each side of the equation perceives a reciprocal and equal victory.
The traditional career paths of yesterday defined a point-to-point progression that targeted a select few for specific leadership positions. Career-managementpathing programs generally worked because the environment was more static, jobs more stable, and employees were loyal and more connected to their organization. These conditions do not describe today's world of work. Job jumping, career changing, volatile industries, and shifting work environments are now a way of organizational life. The contracts between employer and employee have significantly changed.
When employees understand what the organization needs and how their personal career aspirations fit into the overall plan, a new contract develops. When companies share the corporate vision with their employees beyond plaques on the wall, internal business partners are generated who have a vested interest in the...