Dear Tech Companies: Let’s Navigate the Ins and Outs of Professional Development in 2024.

The tech workforce is telling you what they need this year — are you listening?

Each story in our Dear Tech Companies series focuses on issues in the tech space and provides strategies and solutions to companies looking to invest in meaningful solutions that will drive impactful industry change and make the industry more accessible to Black, Latina, and Native American women.

Imagine it’s December 2024. The tech companies that committed to upgrading their professional development policies had a pretty big year — they retained most of their top talent and saw greater employee satisfaction than ever. That’s not all: strong personnel policies helped them meet and exceed their financial goals, setting their business up well to endure challenges and excel in 2025 and beyond.

So how did they do it? The policies they offered were the ones their employees really needed.

Now, back to the present — there is a lot of upheaval in tech in the last few weeks with the recent spate of layoffs. We’ve talked to you before about how this won’t be the first or the last time companies are compelled to make difficult choices. We’ve also learned that the most actionable and effective policies are within reach — even in a challenging macroeconomic environment.

So why does professional development matter now? Our research in the System Upgrade report revealed that when companies make existing investments in their talent more efficient, over 70% of all employees are more likely to stay at their workplaces. Companies will always need the best and brightest talent to endure turmoil and excel long-term, and we’ve learned that a key part of keeping this talent is by charting clear pathways for career advancement.

As the technical workforce sets professional development goals for the year, companies can partner with them to implement policies that support employees in staying and excelling in tech, even in times of crisis. Not all professional development is created equal — here’s what’s in and what’s out for 2024.

What’s Out in 2024?

Deprioritizing Transparency: Consider a talented data scientist, eager to make the next big move in their career, who can’t find internal job opportunities, resources for skill development, or trusted colleagues to seek guidance from. Why should they stay? When essential information is inaccessible, the outcome is frustration and eventually stagnation.

Pursuing Short-Term Gains Over Retention: If you’re looking to nurture and keep your talent for the long haul, you need to look beyond filling jobs and focus on fulfilling employees’ long-term career aspirations. Our research tells us that for companies to remain competitive and excel in the future, they need to do more than just hire — they need to support employee growth.

What’s In in 2024?

Accessible Internal Job Boards: When employees at every level can see a clear path for advancement within their organization, they’re less likely to look elsewhere. According to LinkedIn’s 2023 Workplace Learning Report, those working at companies with high rates of internal mobility tend to stay an average of 60% longer. And our data suggests that establishing a central and accessible internal jobs board is a key first step in getting it right.

Consistent Professional Development: Professional development isn’t enough if it’s not intentional and consistent. By incorporating regular opportunities like career accelerators, job shadowing, or rotation opportunities into existing initiatives, companies can guarantee continuous skill growth, employee engagement, and sustained career advancement.

Actionable Performance Reviews: Having a performance review with actionable next steps is like having a map while driving. It’s not just about knowing where you are; it’s about understanding the route ahead and having a plan for every turn. Our research suggests that performance reviews with clear next steps empower people to navigate their careers with confidence and make informed decisions.

Let’s take a look at these strategies in action!

Coalition Spotlight:

What’s possible when everyone feels confident in their growth opportunities?

UKG’s employee resource group UNIDOS is dedicated to empowering members of the Latinx-Hispanic community. Through collaboration with UKG’s Learning & Career Workstream and Talent Acquisition, UNIDOS enhances visibility to internal career opportunities, encouraging employees to advocate for themselves and achieve their career aspirations by sharing “hot job” announcements through their channels.

In the last three years, seismic shifts have rocked the technical workforce. With industries nationwide adapting to the Great Reshuffle, a shifting landscape in higher education, economic instability, and the implications of AI on the future of work, tech companies are going to be asked to continue innovating, collaborating, and pushing the edges of what’s possible. Long-term success for your workforce goes beyond trend-chasing — it will take strategic, intentional investments in the professional development policies your employees really need. There’s a lot to gain by working smarter, not harder, not just in 2024, but in the years to come.

For more insights — dive into the System Upgrade report today to access free tools and resources to supercharge your professional development policies.