Build a Career Value Proposition to Tackle The Great Resignation

When it comes to attracting and retaining talent, the ability of leaders and managers to be able to articulate the career trajectory to an employee can play an important role. Frustration with career progress is the top reason employees give for leaving their employer. Recent studies conducted by Gallup show that both pre-covid-19 as well as in 2021, career advancement opportunities was the main reason people transitioned jobs. Also, an impressive?87% of millennials?rate "professional or?career?growth and development opportunities" as important to them in a job -- far more than the 69% of non-millennials who say the same.

Working for more than a decade with leading organizations across the globe to develop effective human capital strategies, I observed a gap when it came to recruiters, managers and leaders being able to clearly convey what I term as the "Career Value Proposition" to an employee.?

In certain client research it was noted that employees would opt out of promotions to senior level positions for various reasons. Some were discouraged by how much their supervisor labored in the role or had other work pressures, while a few others were concerned about the risk associated with moving out of their comfort zone. There are indeed challenging roles in almost every company. But when rightly positioned to the correct candidate carefully articulating how such a role positively impacts their career, it will drive the employee to seriously consider the opportunity and be resilient in the role to achieve greater career goals.?

What is a Career Value Proposition?

Put simply,?a?Career Value Proposition?explains the benefits of taking on a specific role in a company to an individual employee’s career.

Long ago, when I was newly hired into an organization, a senior leader in the company offered me a challenging assignment in a tough geography to where I had to temporarily relocate. Considering how demanding both personally and professionally the role could be, many others in the organization had declined the assignment. I had to reflect on the future benefits the opportunity will have for my career a.k.a., the career value proposition. For example,?

• Will taking on such an assignment in a less than ideal location entice my employer to give me a position in?a more desirable location in future?
• Will the complexity of the assignment?grow me?in ways that will give me the strength take on more challenging assignments in future, or do less challenging assignments with ease?
• Will working with other experienced team members involved in this project give me?chance to learn?from them,?build my network?and hence fast track my career?

None of these were absolute guarantees, only mere possibilities. A year and a half later, I was promoted and offered a position in a more desirable location. Years later, the work I carried out in that tough assignment is something still recognized by leaders. If only many others had considered these possibilities, they may have been more willing to opt for such a stretch assignment.

How does a "Career Value Proposition" compare to an "Employee Value Proposition"?

Organizations today formally or informally clarify the?employee value proposition?(EVP) to current and prospective employees. The EVP conveys the benefit an employee gains by joining a specific organization. Mostly, organizations articulate their EVP by focusing on company culture, employee experience, pay and benefits etc. All of which are critical aspects to attract and retain talent.?Career value proposition?(CVP) is different from EVP in the following ways:?

• EVP focuses on overall organizational benefits, whereas CVP is focused on a?specific role or career track
• While EVP is general for anyone joining or part of the company, CVP is more?individualized to a specific employee?considering a particular career trajectory
• EVP is largely owned and driven by organizational leaders and HR. CVP is jointly?owned by the employee and the manager with support from HR and leadership.

A good career value proposition enhances the overall employee value proposition of the company.

What should organizations do to effectively clarify a Career Value Proposition?

1. Have a systematic process of?capturing employee career aspirations, life goals, areas of passion,?work related skills and experiences.
2. Establish and maintain career tracks?keeping pace with the evolution of roles and the overall business.
3. Enable Leaders, Managers, Career Counselors, HR Business Partners?etc. to foster a culture of coaching and have effective career conversations with employees.?

By no means is this the only silver bullet to tackle the great resignation. But CVP is a significant gap that if addressed, organizations can reap benefits such as employee engagement, retention and individual productivity & performance.??More importantly, employees are also more likely to persevere through temporary job or market challenges if they are consciously aware that they are purposefully choosing to do what they are doing today to achieve greater success in future.?