What is a career plan: the key to retaining and attracting talent

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What is a career plan: the key to retaining and attracting talent

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The career plan is a fundamental tool to stimulate satisfaction and internal competitiveness and also the gradual growth of the company. Do you know what a career plan is and how to create it?

To make this even more enlightening, in this article we will see what the career plan is, the benefits of this practice, the ways to develop it and the action plan.

This process has the following steps:

  • design the company's organizational structure;
  • analyze the moment of the company and the market;
  • evaluate the behavioral and technical profile to occupy the positions;
  • to know the professionals' career expectations and expectations.

One of the main motivational actions at work is the career plan. Through it, your employees learn that they are valuable assets for the company and that their efforts are rewarded.

Not to mention that this type of posture, for the company, translates into greater loyalty. Professionals know what to do to grow and how much they can develop internally.

The question is: how to put together a career plan to attract and retain talent? That's what we'll see throughout this post. Check out!

What is the career plan?

Voluntary turnover is among the reasons why companies – regardless of their size or industry – lose many of their talents.

Not least: you, as a professional, must know how frustrating it is not to find growth prospects in what you do.

Over time, it is easy to identify with demotivation, a characteristic of those who do not feel valued. And this is where the career plan appears as a punctual alternative for the development of its professionals.

After all, it is about structuring a program that sets goals, objectives and expectations for each position available in the organization.

This helps both to stimulate internal competitiveness in order to reach new professional paths. But, also in the hiring process, did you know?

For example: during the interview, candidates already understand what is expected of them and what they can expect, in the short and medium terms, for their professional growth.

What is the value of this?

When well structured and well-founded, the career plan outlines for the company's employees what they can expect in the future. Satisfied in their respective workplaces, they will engage more and more with the company's institutional pillars.

For the project, the charges for the aforementioned turnover are reduced. Productivity is improved and planning is necessary for the brand's growth in the market.

We can also highlight other benefits, such as:

  • cost reduction with eventual consultancies for new recruits;
  • decrease in expenses with initial integration training for new hires;
  • minimization of risks with the wrong hiring;
  • gradual flow of growth within the company.

It is worth mentioning that the career plan is a democratic work and accessible to all professionals. And without a doubt, an effort that involves HR and leadership.

One of the main objectives that lead companies to adopt the career plan is to retain talent. Do you want to understand a little more about her? Answer the form and receive a free eBook!

How are leaders involved in the process?

The work begins with the diagnosis of the entire workflow and, then, the segmentation of positions in the company.

Then HR and leadership will come together to assess the construction of a career in each sector. This includes the development of positions and an analysis of the desired profile, expected skills and also a line of succession.

Thus, current managers strive to grow as well. Nor are they afraid of the task of developing people under their responsibility, for fear of losing their position.

The next step is to speak openly with the entire company: expose the plans and how the process will work.

This automatically works as a fuel to inflame professionals and encourage them to seek the expected results.

What are the challenges in investing in the career plan?

The first of these is in the above-mentioned diagnosis: it is sometimes difficult to recognize productive bottlenecks and what are the points for improvement.

Even so, the development of a career plan cannot be an individual task: collaborative work is indispensable for different perspectives to be evaluated.

Another point of attention is what is expected of professionals. The career plan not only outlines actions and projects results, but trains and guides professionals.

As a result, it is necessary to develop a series of training courses to enhance the company's human resources.

And do you know why? It is important to understand whether the efforts of leadership and HR are being absorbed and duly used.

For this reason, a routine of periodic evaluations and feedbacks has to be implemented – otherwise, it is lost in effectiveness in the process.

In addition to the obvious: feedbacks help the professional to identify his strengths and improvement, and to pursue other ways (such as training courses) to develop his skills and grow according to the company's projections.

Types of career path in the market?

Time to understand how the market, in general, mobilizes to promote a career plan internally. Among the main ones, we highlight the following:

1) Y career path

The inspiration for this career plan model is in the format similar to the letter “y”. This means that, at a certain point in his career, the professional finds a fork in his career.

There, he must choose whether he wants to be an expert or grow with the responsibilities of a manager. Both are important for the company's growth, and it is from an alignment between the evaluations and the employee's desire that a path is chosen.

2) Career Plan in W

Also guided by the design of a letter, the W career plan offers professional forks, too, but with one more path: that of project manager.

From him, an unconventional leader develops, who travels through the area in specific projects. A weight helper, therefore, for managers and other team members.

3) Responsibilities, profiles and competencies

Popular model that assesses the company's demand and flow. Subsequently, the desired profiles and skills in each position of the company are evaluated.

Based on this initial design, an evaluation process is elaborated, in which employees must pass periodically. The results of each of these evaluations constitute an average and predetermined period for any promotions.

The issue here is how the company conducts the model: it is the company that chooses to offer an opportunity in different areas based on the profiles and results obtained.

It is a more cautious model and, over time, it is solidified so that the company and its employees can grow in different areas.

In this model of career plan, there are two types that can stand out:

  1. career by line of specialization: the professional can ascend in the career in a defined line based on his own specialization, only;
  2. career by line of versatility: the professional can move through other areas of the company.

Did you see how there are different models – and others, in addition to the ones we saw here – to explore a motivational career plan?

Now, based on everything we saw here, we needed to explore in detail how to put into practice so many concepts, demands and plans. That's what we'll see next!

Career plan in practice

The issue was addressed briefly in the previous topics. But, let's see now how it should be done with a good deal of planning and assertiveness.

How to create a career plan: step by step

The first step is to design the company's organizational structure. This already helps to identify where, and what, the positions are available and which ones may arise over time.

It is also worth noting that the company's moment and its position – in the short, medium and long terms – in the market influence this planning. For example: we cannot count on exponential growth if the country is in crisis and its segment is stagnant.

It is a good time to assess which positions will be allocated internally, based on the desired profile, and what should be brought in from the outside to immediately fill new positions.

This all helps to make a transition safer, more harmonious and without interfering negatively in the productivity and profitability of the company.

All aspects must be analyzed so that decisions are seen as investments, not bets.

Take advantage and check if there are possibilities to carry out the tasks below to complement the entire outline of the career plan in your company:

Other important information for planning a career plan:

  • listen to employees and evaluate, in their view, what can be done to develop the career plan;
  • use this exercise to assess each other's career aspirations and expectations;
  • Collective meetings between HR and management must take place periodically as well – whether to evaluate new stages or even to outline new job profiles and objectives.

It should be noted that the last topic is decisive for the company's selection process.

When you have a well-planned career plan and workflow, hiring is also benefited and there is less risk of bringing employees uncommitted or without the desired skills and behavioral profile in the company.

As a result, the company will be self-sufficient at different levels, promote a good reputation in the market and reduce stress at work. After all, internal communication will be more direct and objective.

How to start this business practice in the company?

Following some of the practices mentioned in this article, everyone in your company will know what must be done to grow internally, and how far they can rise professionally.

These are tangible and intangible benefits – all of which are differentials that can promote the company's success immediately or in the long run.

And so, now that we've seen everything about building a solid career path for your company, how about taking the first step in that direction?

Meet HR Consultant UK, a Human Resources platform that will transform the way your company manages people.

With our system you will:

  • reduce the time in your employee dismissal admission processes;
  • have a clearer and safer process;
  • avoid penalties, fines or any risk related to legal issues and information management of the company.

HR Consultant UK is the only one that delivers an incredible experience and still solves the real problem that the customer has. Talk to an expert and find out how to reduce your HR costs by 30%.

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