Why Career Paths are Critical in Retaining Millennials

In its most basic form, a career path is a plan for an employee to move through various positions to obtain an ideal career. The plan could move them vertically into a senior position, or horizontally into a different type of job role.

Most successful companies develop career paths for their employees as part of their overall talent management strategy. This provides a realistic picture of their position in the coming years. This also helps with employee retention and development.

A Gallup poll recently revealed that millennials were significantly more interested than other generations in two key aspects when applying for jobs:

• Opportunity to learn and grow

• Opportunity for advancement

These results further demonstrate the importance of utilizing career paths in the retention of millennial employees.