Benjamin Disraeli said, “The secret of success in life is for a man to be ready for his opportunity when it comes.” Organizations that chart clear career paths make it easier to predict this moment. And today, employees have begun to expect management to help them pave the route.
In a new Monster India Poll on “What Benefits Would Retain You For Long In An Organization”, career advancement opportunities have emerged as a key factor for employee satisfaction. Over 37% of professionals said it was the main reason to stay put in a company, placing it ahead of more predictable influencers such as flexible work arrangements (12%) and even salary (11%).
That money is no longer the biggest motivator for employees was revealed in an earlier poll by Monster India, where 83% of those surveyed said they work for passion. Only 17% said money was important. Clearly, as our ‘Love What You Do’ brand campaign says, people believe it’s important to Love What You Do.
Employees choose new skills over money
A clear growth trajectory mapped by a career development plan is one way for employees to hit those high notes on the job. People don’t want to walk into the office and do the same thing, day after day. They want to learn fresh skills and be given new responsibilities that will help them grow into a different role – one that aligns with their personal goals. Employees are also bringing certain degree of self-assessment with them to work. They are more aware of the skills and talents they enjoy using most and want to build on those. An organization that hopes to retain them needs to dovetail into employees’ short-term and long-term development plans and provide the counselling, training and mentorship they require to achieve any milestones. This could mean helping them acquire a new skill, give them more responsibility or even guide them towards a top spot in the company.
Learning & development on the job is highly valued
That employees want to feel passionately about their roles is also evident from the fact that they give learning and development precedence over money. Almost 18% of those who participated in the Monster India Poll cited on-the-job training as a prime reason to continue in an organization. Being asked to handle new assignments, regular feedback on progress and practical advice on dealing with any administrative, technical or people problems are just some of the expectations employees have of immediate bosses that want to retain them.
Job security wins employee loyalty
The popular belief is that Indian employees look for job security while choosing an organization. But even that emerges second to career growth opportunities in the Monster India poll. Just 22% of those questioned cited job security as a reason for remaining in a job. Employees who believe in pursuing a career that they enjoy and proves rewarding are more open to taking risks than others. Open to trying new things and doing things differently, they can take uncertainty in their stride.
Flexitime beats money on employee wish list
While a work-life balance remains important, the Monster India Poll reveals that flexitime isn’t a deal-breaker for employees today. The 1% difference may seem slight, but it is still a more important reason than salary to continue in a job. Employees recognize that to be happy, healthy and productive, they need to build downtime into their schedule, organize work tasks in order of priority and optimize their schedule for when they are most productive.
The poll revealed career advancement opportunities are a major priority for employees when it comes to making a decision about whether to stay in a job or not. Money is important, but a career where you Love What You Do won’t always come around. Those who find it, sit tight.