Career Management Software

One of the most pressing conflicts that organizations face today is employee turnover. Low staff retention rates negatively impact morale, engagement, and productivity rates. Typically, lack of internal growth and career development opportunities are the cause of high employee turnover.

It's crucial for small businesses and midsize enterprises to support their staff by providing them with a centralized platform to develop, track, and monitor their career development goals.

This guide will help you understand the various factors that must be considered when choosing a career management software solution.

Here’s what we'll cover:

• What is career management software?
• Common features of career management software
• What type of buyer are you?
• Benefits of career management software
• Key considerations for purchasing career management software
• Market trends to understand

What is career management software?

Career management software helps organizations support their employeesʻ individual career development by providing self-assessment tools, predictive analytics and reporting, networking opportunities, and other features.

Career management platforms also enable human resource professionals to discover internal talent, track employee skills development, monitor staff experience, and assess employee performance on a secure, centralized platform.

Common features of career management software

While features vary from product to product, career management software typically offers some or all of the following functionality:

What type of buyer are you?

• Small businesses (fewer than 100 employees): These buyers are typically smaller companies that understand how employee development directly impacts the growth and profitability of their business. Smaller businesses usually do not have extensive resources to recruit new employees and recognize that offering a career development program will help attract and retain new talent for their small business. Such buyers should look for a career management software that sends frequent alerts and notifications to employees that help establish a shared vision amongst staff regarding the benefits of skills development and how it contributes to company growth.
• Midsize enterprises (100 to 999 employees): These buyers are looking to retain their top performers and foster loyalty among their staff. In addition to this, these buyers are looking to cultivate and maintain company culture by emphasizing future planning and evaluating growth opportunities, instead of seeking out new talent. Such buyers should look for career management solutions that offer analytical reporting to better understand their employeesʻ capacity for growth.

Benefits of career management software

• Ensures appropriate employee placement: When a business understands their employees’ strengths, weaknesses, goals, and aspirations, they are better equipped to place them. Career management software allows managers to accurately assess and track the progression of employee skills and competencies to provide insight on if employees need additional training, adjusted placement or even a promotion.
• Boosts workplace engagement: When the engagement of a companyʻs employees is left unchecked, employees may begin to display negative workplace attitudes and behaviors. Regularly implementing training initiatives via a career management software solution will help prevent negative workplace behaviors and instead emphasize positive development opportunities for employees, improving staff productivity, and workplace attitudes.
• Enables the development of future leaders: Targeting future leaders within your organization is crucial when looking to grow or maintain a successful business. Career management software enables current managers to pinpoint the employees that exude management potential through skills assessments and analytic reporting.
• Empowers employees: Career development software solutions enable employees to feel a greater sense of value and confidence in their work, which ultimately leads to a greater sense of workplace autonomy. When employees are confident in their skills and can practice good decision making in the workplace, they add to the success of key workflows with an organization.

Key considerations for purchasing career management software

With so many career development software solutions available on the market today, trying to choose the right platform for your business can seem overwhelming. Consider the following when looking to purchase career management software:

• Alignment with business goals: When choosing a career management software for your company, be sure to note what your businessʻs short-term and long-term goals are for employees. Is your business looking to mold management from within? Or are you looking to simply empower your employees to learn and grow new skill sets independently? Whatever your organizationʻs intent is, be sure it aligns with the capabilities of your career development solution of choice.
• Learning management system integrations: Learning management systems (LMS) can help enrich employee skills training and development. If your business already has a LMS in place, be sure to ask your software vendor if their software solution will be able to integrate with it.
• Accessibility: It's crucial to pick a career development platform that is easy for both management and employees to access and use. Some career development platforms offer mobile applications and offline access. Find out if your staff would benefit from these accessibility features.

Market trends to understand

As the distinctions between career development programs and training programs begin to blur, organizations must understand the difference between the two.

According to Gartner, training is “the planned effort by an organization to facilitate employee learning of job-related skills.” These training programs focus on the short-term, and typically only train employees to increase their performance at their current position. On the contrary, development (as defined by Gartner) is “the acquisition of knowledge and skills that may improve the ability of employees to meet challenges in current or future jobs.”

Although some training programs offer a wide variety of skills development courses, career management solutions focus heavily on helping employees develop long-term skill sets like communication and leadership skills to optimize their career growth in both their current and future positions.