How much of your staff is a flight risk? Recent research reveals that 57% of new graduates are planning to leave their jobs within two years, and another 40% plan to leave within 12 months. Granted, the recent economic disruptions may stay these plans – but the dissatisfaction that these employees exhibit (mostly around opportunities for career advancement and compensation) will remain.
There’s often little you can do to increase satisfaction with compensation, other than making sure salary offerings are competitive. However, the challenge of creating more career advancement is a meaty one, and one that is especially important for Research, which has typically limited career paths. In fact, MREB research has revealed that for researchers, the main source of job dissatisfaction is the lack of advancement opportunities; even when researchers are appropriately compensated, they feel that the job is relatively unattractive and underpaid because they are ready for greater roles long before opportunities arise.
Kelloggs, recognizing that company-wide retention is more important than Research retention, has solved this problem by expanding the scope of career opportunities to include roles outside of Research. Supporting rotations or permanent moves into other functions is a powerful signal of career support to current researchers, and also builds a broad alumnae network of former researchers across the company.
MREB members, learn more about the key elements to facilitating external-to-Research career advancement. And check out additional tactics for expanding career opportunities at our Career Planning Resource Center.