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Career Growth Improves Retention: Here’s Your 5 Step Plan

In the early stages, startups are keenly focused on building a viable product, getting customer feedback, and making payroll. But as soon as you have team tenured team members, they’ll start asking about their career growth – how to gain new skills, get a bigger role, become a manager, etc. Experienced founders will anticipate people’s desire to grow, and make sure the company keeps talented employees challenged and learning. Career paths let employees grow their careers with you vs. your competitors, increasing retention and engagement.

How do I create career paths in my startup?

  1. Make it clear from the start that there are many ways to take on greater responsibility, increase scope and add value. Career growth should not just be limited to promotions and pay increases. Financial growth is important, but things like on the job training, stretch assignments, rotations and lateral moves (for example from technical program manager to engineer) are too often overlooked.
  2. Figure out what growth means to your team members. Remember, it make look different for each person. Not sure? Just ask! Run a survey, do a focus group, or add this question to your one on one meetings.
  3. Identify career growth opportunities in your company. One way to do that is to think about all the things you wish you could get done today but don’t have the resources. Can someone take this on as a stretch assignment? Is there more important work that could result in a new project or role change? If a team member has shown good leadership skills, can they become a manager, mentor, supervisor or lead?
  4. Map out all the ways you can support them and ask each person to do the same. You may be surprised with the creative ideas they come up with. When people are energized they can take on more. You might see people you thought were maxed out raising their hands to take on more.
  5. Think about career growth as something that’s employee led and company supported. Include your managers or the whole team if you’re small, and do some brainstorming about what kind of growth your company has to offer.

Communication is Key

You know that there are plenty of ways for your team to grow, but do they? It’s important that your employees can see thave have a career path in your company and don’t need to leave the company to grow and develop new skills. Career options are worth little if they’re not well communicated; this is a case where perception equals reality.

Ask employees who have grown with you to tell their stories to others, and celebrate them. Consider quarterly check-ins where managers take employees to coffee and talk about career goals instead of having a regular one on one which are usually more focused on day to day work.

If people are feeling restless, talk about creative ways to retain them. Asking simple questions like “Are you happy?” and “Are you challenged?” is an easy way to get the conversation started.  

Need help creating your career paths and job families, or figuring out a new org structure so you can scale during rapid growth? We can help – contact us info@reverbpeople.com.

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