The Future of Work report by PSFK Labs explores the trend of personalized career planning
How do today’s businesses think about the ‘career ladder’? In the new Future of Work Report, the team at PSFK Labs found that future-forward companies look at promotion as a development tool rather than a reward for work well-done. By letting an employee take an active role in her career planning, a company is able to leverage promotions to utilize new skills and empower the workforce.
As famously stated by Sir Richard Branson, founder of the Virgin Group, “train people well enough so they can leave, treat them well enough so they don’t want to.” The mantra continues to be something several companies live by today.
One example is Google, a company often accredited with having one of the world’s greatest work cultures, according to a study by Business Insider. To respect key traits such as values, strengths and passions of the workforce, Google encourages its employees to constantly modify their roles and everyday tasks. By viewing a job description as a flexible set of building blocks, employees such as engineers are able to incorporate mentorship or management into their workload, tasks that are inherently outside their role. With role flexibility, Google rapidly increased overall job satisfaction and effectiveness.
A flexible career path is not only important to retain employees but to attract them. In the Employee Financial Wellness Survey by PwC, 54 percent of millennials say their loyalty is influenced by how much their employer cares about their well-being. For an employee to feel heard and be satisfied with work, organizations need to provide the tools for flexible job crafting. If professionals are mapping their goals and establishing milestones, organizations can understand the resources necessary to develop their workforce more rapidly. It creates a symbiosis between businesses and employees that help both parties understand and capitalize on common passions.
Read more about how businesses can implement personalized career development into their own company culture in the Future of Work report.
Download PSFK’s Future of Work report to gain insight into the policies and tools that leading organizations are adopting to attract and cultivate tomorrow’s leaders today. Take advantage of the full findings, summary presentation, workplace visions and exclusive articles to get your company up to speed on the transformational workplace strategies that are driving innovation in business.