46% of British employees claim to have never participated in a high-quality conversation about their career, a new study shows.
In what has been branded a “wake-up call” for employers, most companies are relying on annual appraisals to gauge the satisfaction of workers - a practice which, according to Right Management’s Global Career Conversation Study, is 50 years out of date.
The survey examined the views of 4,402 global employees aged between 25 and 55 to understand the extent to which employers are helping them manage their careers. It found that less than a third (31%) feel confident enough in their ability to initiate a conversation outside of annual performance reviews.
Ian Symes, Managing Director at Right Management, told HR Grapevine that the practice of annual reviews is broken.
“If you’re using an annual appraisal system which was designed 50 years ago, then that whole process is broken because we have a model that’s half a century out of date that we are applying into a modern business environment that is very different,” he said.
“Those businesses who don’t remedy this may find they won’t be able to attract talent, and the talent they do have won’t be engaged.
“It’s a wake-up call for a lot of organisations, and for those organisations that have best practice in place you can see the high level of engagement.”
The study uncovered several benefits of regular career conversations, including that they make 76% of staff feel more engaged in their work, 75% happier and 73% more likely to stay with an organisation.