More than three-quarters of organisations using a formal career framework report it delivers a positive return on investment, according to research from Mercer. Half of global organisations currently use career frameworks and an additional 37% plan to introduce one in 2016, the survey-based research suggests.
The most common programmes covered by frameworks are:
Not surprisingly given the popularity of talent frameworks, only 3% of employers plan to shift from an approach where they build talent from within to buying it in over the coming year.
The most common talent challenges employers face are:
Kate Bravery, partner and global solutions leader for Mercer’s talent business, said:
‘Attracting and retaining the right talent continues to be a challenge for companies as a result of the competitive job market, flat compensation budgets, shortage in critical skillsets and a constantly changing business environment . . . By focusing on developing and outlining career paths, they can influence employees’ growth potential within the company, improve retention efforts and cost-effectively develop a workforce that contributes to higher business performance.’