ARLINGTON, Va., Feb. 09, 2017 (GLOBE NEWSWIRE) -- U.S. employers and employees agree that career advancement opportunities are among the top reasons employees join or stay at a company. Yet while many employers believe career advancement opportunities are improving, new research by Willis Towers Watson (NASDAQ: WLTW ), a leading global advisory, broking and solutions company, finds a significant gap remains between employer and employee views of the effectiveness of career management programs.
“Career advancement, skill enhancement and personal development opportunities are what employees truly want from an employer, in addition to competitive pay and job security,” said Renée Smith, director, Talent and Rewards, Willis Towers Watson. “Unfortunately, effective career management programs remain elusive, leaving many employers in danger of losing some of their best talent. In fact, our research found an alarming number of employees who say they would have to leave their employer to advance their career.”
Consider these findings based on responses from 3,105 U.S. employees who participated in the Willis Towers Watson 2016 Global Workforce Study:
- Only 41% of employees think their employer does a good job of providing advancement opportunities or promotions.
- Just over half (52%) of employees say their organization does a good job of providing opportunities for personal development, such as challenging project assignments.
- Only 41% of employees say their employer offers career planning tools and resources such as coaching, self-assessment and career paths.
- Less than one in three employees (32%) say their immediate supervisor or manager helps them with career planning and decisions.
- Almost half (47%) think they would have to leave their employer and join another company to advance to a higher job level. Additionally, 39% of high-potential employees said they would need to leave their employer to advance their career, which is consistent with the 45% of high potentials globally who agree with this statement.
U.S. employers, however, are a bit more optimistic about their career management programs. The 2016 Global Talent Management and Rewards Study , which surveyed more than 2,000 companies globally, including 441 from the U.S., found nearly six in 10 U.S. employers (58%) said their programs were effective at providing traditional career advancement opportunities, including both promotions and lateral moves. Interestingly, 42% of employers said career advancement opportunities for most employees have improved over the past year, while only 28% of employees believed advancement opportunities have gotten better.
“While many employers have made improvements in providing some of the traditional aspects of career management, the changing ways for getting work done and what today’s workers want out of a career means employers will need to modernize their career management programs in order to attract and retain talent,” said Suzanne McAndrew, managing director, Talent and Rewards consulting, Willis Towers Watson.
Indeed, according to the research, the majority of employers provide the elements of a traditional career management program including vertical career paths (53%), internal job boards (69%) and on-the-job growth experiences such as stretch assignments and special projects (71%). However, employers have a long way to go to provide elements for a modernized career management program. Only 29% of employers currently outline lateral career paths (paths across job functions or business areas); 33% provide beyond-the-job growth experiences such as job shadowing and rotational assignments, and only 42% integrate information on career opportunities within technology.
“The competition for career opportunities is getting stronger and will probably intensify as more employers look to alternative pools of employee and nonemployee talent for their workforce. Those organizations that are able to deliver effective opportunities for skill enhancement, personal development and ultimately career advancement opportunities will likely be in the best position to attract and retain top talent, and keep their workforce highly engaged,” said Smith.
About the surveys
The Willis Towers Watson Global Talent Management and Rewards Survey was conducted from April to June 2016 and includes responses from 2,004 companies worldwide, including 441 companies from the U.S. The participants represent a wide range of industries and geographic regions.
The Willis Towers Watson Global Workforce Study covers more than 31,000 employees selected from research panels that represent the populations of full-time employees working in large and midsize organizations across a range of industries in 29 markets around the world. It was fielded online during April and May 2016. The U.S. sample includes 3,105 employees and has a margin of error of ±1%.
About Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW ) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
Media contact Ed Emerman: +1 609 275 5162 eemerman@eaglepr.com
