1. The business case Toolkit for
Career Development

2. Three key reasons to invest in career development

3. “Lack of future career opportunity” is consistently the # 1 driver of employee turnover, CEB Global Labour Market Survey ( )

4. What is employee turnover costing our business?
Costs include lost productivity, declined customer service, recruitment costs, onboarding/training costs, loss of institutional knowledge, flow on decline in team engagement and retention
Up to 213 percent of annual salary for senior management positions (CAP study, 2012)
Approximately 150% of annual salary for a mid-level employee (TLNT study, 2015)
48-59% for front-line sales and support roles (Willis Towers Watson, 2016)
Job Level
Financial cost of turnover (% of annual salary)
Turnover rate (%)
Number of employees
Average salary
Estimated cost
Senior Management/ Executive
74% - 213%
Professional
60% - 150%
Front line: customer service, sales, business support
48% - 59%
TOTAL

5. Career opportunities is consistently a top three driver of employee engagement
-Aon Hewitt, Global Employee Engagement Trends (2011, 2015, 2017)
-Willis Towers Watson, Global Workforce Studies (2016)
Aon Hewitt, 2014
Aon Hewitt, 2017

6. Organisations with high employee engagement report on average:
What impact could improved employee engagement have on our business results?
28%
26%
23%
19%
Increase in operating income (Towers Watson, 2006)
Profit growth (Aon Hewitt, 2011)
Higher revenue per employee (Taleo Research, 2009)
Earnings per Share growth (Towers Watson, 2006)
Metric
Example*
Our current state
Our possibilities?
Career Satisfaction
(+10%) x% ?
Employee Engagement X%
Customer Satisfaction
(+4%)
Business Results
(+9%)
*In one major global bank a 10% increase in employee engagement correlated with a 10% increase in business results (Willis Towers Watson, 2017)

7. Career opportunities is a top attraction driver for employees
(Towers Watson, Global Workforce Study 2014, 2016)
Towers Watson, 2014

8. Sample objectives for the career development program
Engagement
Retention
Talent
Improve employee engagement by increasing number of employees/leaders satisfied with their career and development opportunities
Improve retention of:
high potential talent
leaders
female leaders
Improve ability to fill key positions internally/ placement rate of internal candidates
Improve attraction of external employees (time to fill and offer acceptance rates of external candidates)

9. Research References (in order of citation)
CEB Global Talent Monitor (2017), monitor/pdfs/workforce-trends.pdf?pageRequestId=1cd9adb6-856d c2d-5f108e35318e
There are significant business costs to replacing employees (CAP, 2012) content/uploads/2012/11/CostofTurnover.pdf
What was management thinking? The high cost of employee turnover (2015) the-shockingly-high-cost-of-employee-turnover/
Willis Towers Watson Global Findings Report (2016) modernize-the-employee-value-proposition
Aon Hewitt trends in global employee engagement report (2014), consulting/2014-trends-in-global-employee-engagement-report.pdf
Managing engagement in times of change (2017) Engagement-in-Times-of-Change-March2017.pdf
The Towers Perrin ISR Employee Engagement Report (2006)
Alignment drives employee engagement and productivity (2009) Retrieved from
Putting the business back into employee insights (2017) AU/Insights/Newsletters/Global/Sustainably-Engaged/2017/employee-insight-that-drives-business-outcomes
Towers Watson Global Workforce Study (2014) Results/2014/08/the-2014-global-workforce-study