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Career Development as a Retention and Succession Planning Tool

Summary: Employers who actively partner with their employees to align career development with company objectives are experiencing higher retention rates. Career development and succession planning synergy creates happier, more productive workers and positive bottom-line results for the organization. The tight job market requires creative solutions to succession planning. Organizations need to plan even more than ever for future brainpower needs. Management can leverage the investment made in business plan creation through the synergy of connecting it to succession planning and internal career development. For an employee to become invested in an organization's plan, the individual needs to understand what the company wants to accomplish and what he or she has to offer now and wants to achieve in the future. Mutual commitment is high. The initial investment requires management's dedication, but is more than worth the effort.

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  • Topics: Career Development, Leadership
  • Keywords: Career development,Employee retention,Leadership,Organizational culture,Organizational design,Strategic planning
  • Author: Gaffney, Sylvia
  • Journal: Journal for Quality and Participation