Taking time to comprehensively define potential career paths up and around your organisation has never been more important.
In today's ever-evolving business landscape, taking time to comprehensively define potential career paths up and around your organisation has never been more important. This is particularly the case as companies struggle to retain employees post-pandemic.
Gallup recently found that 49% of U.S. employees are watching for, or actively seeking a new job. The same is true in the U.K. with an additional 36% waiting until the economy improves, or for the right opportunity to arise, before they make a move.
As retention falls, recruitment costs soar. When costs are factored in for recruiting, hiring, training, and onboarding, replacing an employee can cost up to 21% of the annual salary for a role. When scaled up across all roles, this is a significant cost for any organisation.
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