Mon 22 Oct 2007 - With an estimated 60 per cent of all staff now ‘moving on’ to a new job within less than three years, TMS Asia-Pacific has advised companies they must begin investing in career development strategies at all levels if they are to stand any chance of retaining staff on a long term basis.
TMS General Manager (designate) Australia & New Zealand, Ainslie Hunt said the situation had gone beyond the ‘critical’ stage with the Australian Chamber of Commerce and Industry now citing staff retention issues as the single greatest threat facing small to medium sized businesses today.
Ms Hunt said that companies offering career development programs stood a much better chance of retaining their staff – especially those employers focusing on keeping hold of their ‘Gen Y’ staffers.
“The key for employers is to have an understanding of individuals longer term goals and, having identified those goals, to ensure they continue to work closely with their staff and help them gain the critical skills and experience they need to progress within the company,” she said.
“Career development strategies ensure employees are placed in the right professional environment where they can nurture their talents and be given the opportunity to develop.”
Ms Hunt said it was very much a two way street and it was just as important for employees to have a clear view with regard to where they would like their careers to go and as a result, progressively work with their employers towards that goal.
“The more employers assist an employee via skill development towards a longer term career goal, the longer the employee is likely to stay as an engaged and productive employee.”
“The travel industry has traditionally invested training dollars into technical skills and product training.
“But while these areas are important, travel organisations should consider taking their investment into broader areas such as leadership development, personal development and overall, training that supports the longer term career aspirations of employees.”