The Business Case for Career Road Mapping / Skills Development

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One of the three core expertise areas I offer in my consulting practice is career road mapping using an innovative process where one page summary career maps of successful employees are mined for themes and then packaged for presenting to all employees in an area. In prior engagements, this methodology has been enthusiastically received by employees and has increased their engagement in career planning.

An example of a one page career map – my own (Stan C. Kimer)

But it does always come down to the bottom line. Can I show with actual dollars how investing in career road mapping can add to a company’s bottom line? Absolutely yes! I agree this is important and can be done.

Many recent articles in the HR press document that employee engagement is at an all-time low. Some 2011 articles in SHRM (Society for Human Resource Management) states that more than half of US employees are dissatisfied with their jobs and 33% plan to look for a new job when the economy improves. With this kind of mindset, these employees are far from peak productivity.

One of the key areas that increases employee engagement is a robust program of career and skills development. Employees are more likely to be engaged when they believe their company truly cares about their development.

Estimated return on implementing a robust career planning program can be calculated in two areas: increased employee productivity and savings in employee attrition.

PRODUCTIVITY CALCULATION: number of employees x average salary x percent productivity gain = productivity gain in $. For example, with 500 employees averaging $50,000 per year, a modest 2% productivity gain nets 500 x $50,000 x .02 or $500,000.

ATTRITION SAVINGS: number of employees x average salary x time for fully onboarding new employees x decrease in attrition percentage = saving in attrition $. For example, again using 500 employees at $50,000, if it takes 2/3rds of a year for onboarding and you can avoid 2% of the population from departing, the savings is 500 x $50,000 x 2/3 x .02 or $333,333.

In addition you would get the “soft” benefits of overall higher employee morale and being able to attract the best talent as word spreads and your enterprise is viewed as an “employer of choice.”

NEXT BLOG: The Business Case for Diversity

Five Ways CEOs Can Show Support for LGBT Diversity

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In my February newsletter (if you would like to subscribe to my monthly e-newsletter use this link) I shared a link to an online article titled “Top Five Ways CEOs Show Commitment to Diversity.” Link here for the article. This inspired me to write a short article on the top five ways CEOs (or any senior leader) can show support for LGBT (Lesbian, Gay, Bisexual, Transgender) Diversity:

1. Actually say the words “Lesbian, Gay, Bisexual and Transgender” when you give any talks or reports on diversity. Often leaders say “women, blacks and the rest of the groups.” It is very important to verbalize all the official diversity constituencies.

2. Interact with any out LGBT executives or senior leaders. Hold them up as an example of integrity and authenticity. Out executives serve as role models to junior employees who may not have an issue with being out and want to see people like them in senior roles.

Diversity metrics need to include LGBT specific targets and achievements

3. Personally attend the annual dinners or other activities of the LGBT community organizations that your company supports. Often companies delegate entire tables at dinners or events to the LGBT employee network group. It would mean a lot to these employees if you also showed up at an event and earnestly seek to learn about the work these groups are doing.

4. Insist that any corporate diversity metrics or goals also include specific LGBT targets and achievements.

5. Issue a CEO diversity support statement under your signature and make sure LGBT is included in it.

Bottom line is that diversity should be a critical part of any executive’s market and workplace strategy. Don’t just delegate it to the Human Resources team, but personally show leadership and involvement.