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Fostering Professional Growth Strategies
Fostering Professional Growth Strategies Once the onboarding stage is finished, professional development should be a manager’s number one retention and engagement tool. Countless studies have found that when college seniors and MBA students are asked what is most important to them as they weigh their post-graduation alternatives, the most frequent response, even more than high compensation, is the opportunity for professional growth.
Managers who thoughtfully assign people to jobs that are rich in “job content” can substantially increase the motivation of their team members, while also providing them with abundant opportunities for professional development. Experience really is the best teacher. As the old Chinese proverb goes:
Tell me and I’ll forget. Show me and I may remember. Involve me and I’ll understand.
Fostering Professional Growth Strategies
How should a manager foster professional development for their team members?., While formal training has its place talented employees are more motivated by the learning that comes through greater responsibility challenging new assignment and promotion. ,Job content rewards may include recognitio, responsibility
This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 521 – Week 4 Lecture Notes (1192) Page 4 of 5
autonomy, performance feedback, participation in decision-making, challenging projects, and development of professional and leadership skills. Some organizational experiences are so robust that they provide employees with multiple enriching opportunities at the same time. Examples include participating in new business initiatives, moving from a line to a staff role, and taking on a position with profit-and-loss responsibilities. Even when an employee’s basic job remains the same, significant professional growth options can be incorporated into the role. Managers can achieve this by giving employees stretch assignments, such as introducing a new product, launching a new initiative, or implementing a new recruitment or performance program.
POPCORN STANDS As CEO of GE, Jack Welch introduced a retention practice that he labeled popcorn stands. In nearly all companies, most of the revenue comes from a small percentage of divisions or businesses.
Fostering Professional Growth Strategies
This is referred to as the “80-20 rule”, a maxim of business stating that 80% of profits come from 20% of activities. Naturally, experienced A players must be assigned to run the business units that generate most of the money. So how can less experienced, but promising, A players at junior levels learn how to manage such business units? They can hone their skills while working in less profitable units. In these popcorn stand settings, high potential employees can develop new skillsets, experiment with new strategies and business models, and perfect their leadership styles. If they fail, their failure causes little damage to the company. If they succeed, they can move to another popcorn stand with a different kind of leadership challenge. Eventually, they will be ready for promotion to a role in a more profitable unit with higher stakes for the company.
