Career development is a broad term that encompasses the processes and practices organizations implement to support employees’ career progression. It is an ongoing process that involves self-assessment, goal setting, action planning and implementation, and refining. The benefits of career development for employees are many: they can learn new skills, take control of their own professional growth, plan for the future, gain a sense of fulfilment and meaning in their work, and make more money.
On the other hand, for organisations, career development can provide a number of benefits:
One is that it helps to retain top talent. Mediocre employees won’t be interested in a career development trajectory or all the learning that goes with it, and they’ll leave when they feel like they can’t progress at the company anymore. Top talent, on the other hand, will come running to companies that have a robust career development program.
Another benefit of career development is that it provides opportunities for employees to grow their leadership and management capabilities. This can be achieved through training courses, coaching, books, meet-up groups, webinars, or even mentorship programs.