This is according to research from Right Management, an arm of HR consulting firm ManpowerGroup.
The Right Management Global Career Conversation Study examined the views of 4,402 employees aged between 25 and 55 around the world to understand to what extent employers are helping them manage their careers. It found that less than a third (31%) felt confident enough in their ability to initiate a conversation outside of annual performance reviews.
Less than half (42%) of respondents said that a career development plan is available from their employer, and only a quarter (27%) thought that a career map outlining a variety of career alternatives was available for them. Additionally, just 18% reported that all employees have access to a coach in their workplace.
This is despite the fact that 76% of those surveyed said they would feel more engaged in their work if their employer discussed career options with them, 75% believed they would be happier in the work they do, and 73% stated they would be more likely to stay in the organisation.
Ian Symes, managing director at Right Management, said it is time for organisations to “relinquish career development models that are almost 50 years out of date".
“Career conversations need a completely different approach to meet employees’ changing needs and ensure an engaged and high-performing workforce,” he said. “Employers need to start proving that they’re serious about nurturing this ‘career for me’ expectation that the next wave of talent demands. A performance review just once a year falls drastically short of achieving that."
“The fundamental challenge is that the majority of managers are unequipped to take action and drive the step-change required,” Symes added. “If businesses continue to fail to take action the exit door will become even draughtier, and business performance and profits will undoubtedly suffer as a result.”