Page 176 - Retaining Top Employees

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164 Retaining Top Employees

Individual Growth Plans
Work the Contract
The “status quo” employ- The first step is to develop
ment contract stated that an individual growth plan
so long as the employee continued to for each employee, or at
do good work,the employer would
least each of your top per-
provide employment and reasonable formers. An individual
compensation.There was no mention
growth plan (IGP)—also
of growth or development there.
known as an individual
By contrast,the “new” employer-
employee contract can be readily development plan (IDP) or
summarized as “You continue to an individual training plan
develop me and give me growth (ITP)—is a concept that
opportunities and I will stay here.” uses discussion and joint
If you’re not providing such oppor- decisions by the employee
tunities,you can kiss your best and his or her manager
employees goodbye—and sooner
(possibly with input from a
rather than later.
mentor and/or a coach) to
determine the specific
developmental experiences necessary for the employee to meet
his or her career aspirations and (if mutually compatible) associ-
ated organizational goals.
Each IGP is specific to the needs of the individual and the
organization. One IGP might emphasize skills training, another
might focus on obtaining a specific qualification, and yet another
might feature geographical or functional exposure. There is no
standard content for an IGP: the main driver is the employee’s
willingness and capacity to
learn and grow.
Individual growth plan
Such plans are becom-
(IGP) A set of specific
developmental experiences ing more commonplace in
determined by an employee and his or organizations. Unfortu-
her manager to be necessary for the nately, they often suffer
employee to meet his or her career from the same weaknesses
aspirations and compatible,associated as the performance review
organizational goals.Also known as an
process—too little, too late.
individual development plan (IDP) or an
To ensure that top employ-
individual training plan (ITP).
ees benefit most from their