Career progression is no longer a straight line. In... - Deepstash

Career progression is no longer a straight line. In fact, employee’s career pathways are just as winding, unique and changeable as their lives will inevitably be. The companies that recognize that, and adapt to it, will be best positioned to thrive beyond this pandemic, and whatever comes next.

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MORE IDEAS FROM Careers are no longer ladders to climb. Here’s how to develop professionally instead

As of 2021, 80% of CEOs  rank the need to teach their workforce new skills as their biggest business challenge; at the same time, research shows that opportunities for learning and development are one of the top driving forces  behind an employee’s happiness and engagement at work. And yet, so often the way companies actually approach learning and development for their employees is inconsistent, one-size-fits-all, and comes from the top-down as part of an “upskilling initiative.”

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Employee growth is ultimately the biggest driver of organizational growth and innovation, and the cost is higher than ever for companies that neglect the growth of their internal talent: 95% of employees  are currently considering quitting their jobs, and a survey conducted at Gloat earlier this year found that the number one reason employees move on is a lack of growth opportunities. One-third (34%) of employees said their company wasn’t utilizing their full potential, and LinkedIn found that employees are nearly 3X more engaged  when they see opportunities to learn on the job.

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For many years, career mobility has often been more about who you know than what you know. Corporations have operated within established, hierarchical structures that encourage silos, and as a result, growth and opportunities often come only to those who are selected for them by someone higher up the chain.

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RELATED IDEA

Careers were always linear, with every worker climbing the corporate ladder, rising from an individual contributor to a manager and then further upwards. 

This structure is now getting outdated.

  • Modern careers are spread in all directions and not just vertically. 
  • There can be horizontal growth, personal growth aligned with company requirements and a shift towards learning on the job, upgrading one’s skill sets.

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Increased spending on digital technologies

Navigating through the Covid-19 pandemic in March 2020 caused organisations to work remotely and find ways to cut spending. However, companies significantly increased their spending on digital technologies for employees.

Over 50% of midsized companies increased their spending in this area, and 69% plan to increase their digital tools in 2022. Yet, many of these investments will not generate substantial business impact because they lack a sustained and successful focus on improving digital dexterity.

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Your company’s culture plays a critical role in whether employees feel welcomed and valued by their company and peers. It also impacts employee morale and—inevitably—employee turnover.

Be on the lookout for classic signs of an unhealthy corporate culture, such as gossip, office politics, low morale, and poorly defined company values (or values that leadership fails to exemplify).

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