Career Path Planning Programs: Development and Impact

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"Career Path Planning Programs: Development and Impact"

Study Overview
This benchmark exchange was originally administered on behalf of a major financial institution to identify the key components and impact of successful career path planning programs. Companies and institutions in all industries can benefit from the primary analytical findings based on internet survey responses that compare and evaluate currently operating career path planning programs in several different industries. This 42-page report identifies the key components of effective career path planning programs.

Key Topics

• Introduction and Key Findings
• Nature and Content of Career Path Planning Program
• Approaches to and Responsibility for Creation of the Program
• Impact of Program on Management Succession Planning and on Associate-level Employees
• Top Lessons Learned and Challenges Met
  

• A large segment of benchmark partners report well-developed career path planning programs. However, the performance of these programs were not consistently high throughout the survey. No partners reported a high level of formalization. * Only 45% of the surveyed benchmark partners identified the level of detail and formality of their career path planning program as mostly formalized. 42% reported minimal formalization and 13% offered inconsistent responses or no formalization.
• The largest segment of benchmark partners rely on the HR department to manage career path programs. Only two companies have formally designated program directors overseeing the function.
  * 41% of the surveyed benchmark partners assign responsibility for management of the career path planning program to the human resource department. Other responses include: 23% senior executive, 13% division or line of business head, and 8% organizational learning and effectiveness.
• Few companies consider their program to have significant impact on succession planning activities. Those that do, exhibit the following similar characteristics: 1) most program elements are formalized, 2) multiple professional growth phases, elements and leadership development activities are integrated into programs, and 3) internal development terms implemented the programs. *Most surveyed benchmark partners, 47%, report an only minimally effective role of the career path planning program in succession planning. Other responses include: 10% not effective, 33% moderately effective, and 10% highly effective.
  

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