Defined Career Path Improves Employee Retention
Robust Job Descriptions are needed for career path definitions and setting pay grades
Employee attrition rates for IT Professionals are at all-time highs across many industries. Based on our analysis and research, they are lowest in organizations that have clear career paths with a robust job classification system. A job classification system is a basis for career planning and setting pay ranges for IT Pros. A job family is a series of progressively higher, related jobs distinguished by levels of knowledge, skills, abilities (competencies), and other factors, and which provide promotional and compensation opportunities.
Retention starts right from the initial steps in the recruitment and hiring process. That includes everything from the application process to screening applicants to choosing who to interview. A first step is identifying what aspects of culture and strategy you want to emphasize, and then seeking those out in your candidates. Career paths, personal development opportunists, and compensation are keys to that process.
The IT Job Market continues to expand
There are currently just under 4 million jobs in IT Job Market. In addition to that, there are over 200,000 IT just that remain unfilled due to a lack of qualified candidates.
That has created an opportunity for IT Professionals to easily move from their existing positions to new ones in other organizations.
Both in an individual's personal career planning and an enterprise's staffing, promotion, and compensation, it is important to have benchmarks on the levels that individuals are at. To that end, one of the best objective ways to meet this goal is to have formal job descriptions and clear paths for promotion and compensation. Janco’s IT Job Family Classification & Pay Grade System can be a key component of the recruiting and staff management process.
There are now new job titles that CIOs are hiring. The question is how successful will an organization be in retaining the individuals in these roles. These positions need to be included in the existing IT Job structure. Here are some of the new IT management and professional level job roles that CIOs may find themselves hiring for this year:
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