Opportunities don't happen; you create them. Beginning your career may be both exciting and challenging in the early years, but in the long run, employees who choose a professional development route can expand their skills and knowledge, which results in mutual benefit to both; them and the business. Therefore, providing employees with growth development plans aids companies' success.
Undoubtedly, wage increases and a new job title prompt people to switch jobs, but it is also essential to look at the more comprehensive picture. One this is for sure; it's never too early in your career to evaluate your long-term goals and how your current position will help you get there.
We occasionally hear that many workers in the past spent most of their careers at the same company. This is no longer accurate, though. According to data from the US Bureau of Labor Statistics, men have an average of 12.6 jobs between 18 and 54, while women hold an average of 12.3.
THE CAREER LADDER: GOOD, BUT NOT GREAT
What does everyone look for in a job? Ask a thousand men, and the answer would be the same; they require competitive pay, and this won't change. However, firms can only expect to overcome retention by relying on salary increases. Employees require adaptability and openness. They need environments at work that promote physical, emotional, and psychological safety and trust. They aim for professional advancement and development.
Vertical Career moves have their cons:
· Operating with a distorted view of the company.
· Traditional hierarchical structure.
· Limited prospects for career growth, particularly in smaller businesses or those with staff with extended tenures.
· Low Workforce mobility and loyalty are based on job security.
· Homogenous Workforce
· Work is a place where you go.
· A task defines the Job.
· The employment ladder concept is being replaced by the lattice approach in most businesses and industries.
Therefore, the best time to adopt a vertical career strategy is when you are on a specialized track and confident of the position you want to play, especially within a particular function like tech.
WHY IS A HORIZONTAL GROWTH SO VALUABLE?
87% of Millennials rate professional career growth and developmental opportunities as important to them in a job. The "career lattice" is quickly replacing the conventional career ladder to connect employees to a broader range of opportunities within the firm as they grow more self-motivated and demand greater career freedom.
The career lattice technique is helpful for anyone thinking about changing careers, wanting to manage work and personal obligations, going back to work after taking time off, or just looking to expand their portfolio.
FRESH PERSPECTIVES, NOVEL APPROACHES, AND UNIQUE CHALLENGES
You get to observe and interact with many departments and teams when you move "across" the company rather than up it. You get to network with new people, try various jobs, and get a firsthand view of everything that happens at the business. Pay attention to the lessons a new boss or peer can teach you.
COUNTEROFFERS MAY BE DANGEROUS
Although getting a counteroffer from your current employer to keep your ability and expertise is pleasant, a modest short-term benefit might cost you in the long run when searching for your next job. Keep in mind to consider your initial motivations for moving and the specific benefits you hope to obtain.
IT'S A WIN-WIN FOR BOTH COMPANIES AND EMPLOYEES
The workforce at a corporation determines its success. Therefore, sustaining a high employee reach and engagement is essential for the long-term growth of the business and its workforce.
This latest study recognizes that companies prioritizing employee development generate a median income of $161,100 per employee. In contrast, companies that fail to do so make about $82,800, which is only half that amount.
Although there are various ways to accomplish the goals listed above, horizontal career advancement is the simplest, most fruitful, and least expensive option. Horizontal career changes can also resolve immediate issues, including employee dissatisfaction, disinterest, quitting, and ambiguity.
HIGH INCIDENCE OF EMPLOYEE RETENTION AND COMMITMENT:
Recruiting talented individuals is essential, but maintaining them committed to your business is another story. Opportunities for horizontal professional progression emerge at this point, radically altering the game.
The ability to enable a flexible work style through horizontal progression can result in significant retention and engagement among employees since people desire to diversify their skill sets and try out different tasks.
LOW COST OF RECRUITING
By establishing a horizontal career growth ladder and internal mobility, businesses can reduce the time required to hire new employees by skipping the recruitment stage and diving immediately into the onboarding procedure. Tell your employees about internal mobility to attract high-quality clients for less money.
Internal talent mobility is vital to 76% of companies, yet just 6% believe they are appropriately moving staff from one role to another.
Think of horizontal growth as developing a root system similar to a tree; it anchors you and establishes a crucial base from which the tree can grow taller. A career lattice offers a win-win situation for your business. Because they will see that you cherish, support, and promote career growth, employees will become loyal supporters. Always keep the big picture in mind; consider where you desire to be in 5 to 10 years and the route you believe you should follow.
Be flexible and aware that your goals and desires may alter as your job progresses. Remember that you are developing your resume and that each action you do advances the narrative of your career in communications.
The choice is yours, and it's a simple one!