City workers split over chances for career progression

City
workers are evenly split over whether or not they believe there is potential to
progress their careers within their current companies.

Just
over half of 800 City workers surveyed for research feel there are no future
development opportunities within their present company, while 49 per cent
believe the opportunity to progress is there,

The research
was carrried out for CitiPeople Index by global recruitment specialist Morgan
McKinley and canvassed the views of City workers in London and Dublin. Only 3
per cent of  respondents ‘strongly
agreed’ that their skills are being fully utilised within their current role
while a further 36 per cent ‘agreed’.

However,
an astonishing 61 per cent of employees don’t feel that their skills are being
used to the optimum within their current role. 

When
asked about performance management reviews within City firms, 53 per cent of
employees believe they accurately record their performance, although 43 per
cent did not feel that promotions were directly linked to performance
management systems.  

A
further 37 per cent of respondents don’t believe that performance management
reviews adequately assess their potential to move to the next career
level.  

Three-quarters
of those surveyed find appraisals useful in terms of future career
development. 

Encouragingly,
61 per cent of employees think that they receive sufficient training and could
easily take on new responsibilities in their current role.

Hesketh
Emden, head of performance consulting, for OakwoodUK.com, which works with
clients in the financial services sector said, "Yet again these results
bear out our experience that there’s still much to do to integrate recruitment,
development, performance management, retention and succession
planning." 

By Ben Willmott

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