Gives a sense of purpose
When employees are offered career progression opportunities, it makes them feel like they’re growing with the company and provides a sense of purpose, which in turn fosters loyalty.
Increases satisfaction rates
Career development gives employees something to look forward to. It also feeds the hunger to learn and grow, in life and at work. This will make them feel happy to work for you.
Stress can make employees unhappy and unhealthy in the long-run. Giving them something to work towards usually makes them feel more confident and self-assured, decreasing the stress.
Creates new opportunities
Career progression can mean fostering a culture of knowledge-sharing, which enables employees to discover new interests within the company, allowing role gaps to be filled internally.
Boosts engagement & productivity
When employees feel supported in the workplace, they become more engaged and productive as a result. This is because they’re happy to invest in a company that invests in them.