In today's competitive business landscape, companies that overlook the internal career aspirations of their employees face the imminent threat of losing valuable talent. This not only hampers their ability to cultivate a talented pool of individuals but also leads to inefficient utilization of their existing workforce. Without truly knowing the skills required for sought-after positions, companies are unable to identify the existing talents who are qualified. What's more, it hinders them from providing appropriate training and professional development programs for their employees.
A 2023 survey shows that workers who opt for internal transfers are 19% more inclined to remain within the organization than those who do not, underscoring the significance of internal mobility in bolstering employee retention and fostering the development of workforce competencies.
This is a gap that Growthspace aims to bridge. An outcome-driven, mastery-based employee development platform, Growthspace recognizes this symbiotic pain between organizations and employees, which served as the catalyst for Career Pathway Programs.
Career Pathway Programs is a 1:1 program that empowers participants to select their next role in the organization and identify the skills they need to acquire to successfully transition to that role, be it a vertical or lateral move. It gives an equal opportunity for leaders to retain talent and for employees to fulfill their professional aspirations, get from point A to point B, and work toward achieving it.
How does it work?
This platform enables employees to not only hone their existing skills but also explore opportunities beyond their current positions, envision their career path, and utilize Growthspace's data-driven and personalized Learning and Development (L&D) programs to foster growth within the organization.
This program is exclusively available for participant-led programs on a one-on-one basis, and it can be implemented using either the default or custom taxonomy. Additionally, it can be used with either the default skills-to-roles mapping or customized mapping. By utilizing this program, companies can offer a personalized approach to career development, assisting employees in identifying and pursuing their career objectives.
The results?
From the get-go, Growthspace Founder and CEO Omer Glass knew that organizations lack visibility and the tools to accurately measure and demonstrate the impact of L&D initiatives on business KPIs. With that, he made it his mission to take a data-driven approach to quantifying impact so business leaders can determine the exact ROI on the employee as well as the business.
Today, Growthspace is a trusted partner for numerous esteemed organizations such as Siemens, Microsoft, EY, Deloitte, J&J, Zoominfo, Tim Hortons, and the U.S. Government. Their expertise aids these clients in enhancing business performance by over 5%, reducing attrition rates by 10%, and elevating the promotable workforce base by 30%. By accomplishing these outcomes, Growthspace affirms the vital importance of L&D in achieving organizational objectives.
One of its clients is SimilarWeb, an all-in-one website traffic analytics and competitive intelligence. Just recently, Dror Yaacobi, its VP of Global HR & Organizational Development, expressed that Growthspace's career pathway programs enable them to foster their employees' professional goals while aligning with their distinctive approach. "Growthspace's career pathway programs allow us to support our employees' professional aspirations, all tied to our unique core competency model", he said. "Employees have the opportunity to upskill and reskill, working on the exact skills and behaviors needed to reach that next level in their career journey."
With the support of Growthspace, SimilarWeb can offer its employees a clear path for advancement and personal growth within the company. The programs help create a framework for career progression, enabling employees to navigate their career journeys with confidence and purpose.
