While compensation is a focus for employers, they’re also trying to ensure that their employees are aware of opportunities within the organization.
This is important, because three out of the four reasons that employees give for leaving a job are related to their career, said Allison Griffiths, a principal with Mercer Canada, at the firm’s 2015 Compensation Planning event in Toronto on Wednesday.
Twenty-four percent cite promotion opportunities elsewhere; 16% cite lack of career and training opportunities at the current job; and 12% say they simply want a career change. Only 14% left for a higher base salary.
In fact, Griffiths said that employers are hearing from employees that they want training and career development and promotions, with the biggest request coming from millennials who want “career guidance” from their managers.
“They want tools and a transparent way to search for jobs inside their organizations,” she said, adding that career frameworks are becoming more common for organizations.
A career framework is a structure that defines and organizes jobs into different levels and streams. So it takes into consideration what the job is and how it gets done, she explained.
But while 60% of organizations are linking compensation with career frameworks, Griffiths believes there’s still room for improvement.
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