Company-wide career development is as important as ever in businesses across the nation. Recent research conducted by the Society for Human Resource Management (SHRM) found that career advancement opportunities were very important to almost all respondents.
The study, "Employee Job Satisfaction and Engagement" found that as the economy improves, businesses will lose talent if they do not invest in workforce development as heavily as their competition.
47 percent of respondents said career advancement is very important in relation to overall job satisfaction.
The top three most important engagement factors at work according to respondents include:
- Relationships with coworkers (79 percent)
- Overall satisfaction with personal contributions to business goals (76 percent)
- Meaningfulness of job and daily tasks (75 percent)
The top five most important factors affecting employee engagement now are:
- Respectful treatment of employees at all business levels
- Trust between employees and senior management
- Overall benefits
- Job security
In terms of career advancement, many new hires are searching for a stable job with a competitive and comprehensive pay package. More than one half of respondents said they would be unlikely or very unlikely to search for a position outside of their business. The top reasons why employees decided to remain in a workplace include compensation and ability to maintain a flexible work-life balance.
When employees are able to understand their job role and fulfill their duties, they are more likely to remain within an organization. Encouraging feedback from workers, creating interactions between different levels of workers and maintaining full communication are a few ways employees said ensure their place in a business.
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