New research reveals staff retention is being hampered by a lack of opportunity and structure within their organisations.
HR service company Penna found that the absence of opportunity was the main reason behind employees' decisions to leave companies during the past 12 months, cited as such by 20 per cent of respondents.
In the same period, one in three organisations have witnessed a rise in resignations. Despite this, 20 per cent admit they have no formal approach to succession planning.
Investment in learning is becoming a high priority for many companies, with 42 per cent of respondents predicting they will spend more money in this area during the next year.
Despite this emphasis on learning, the survey revealed career conversations take place annually only in a small majority of businesses (51 per cent). In firms where such discussions are held, 25 per cent of managers are not trained to conduct them.
Bev White, managing director of Career Services at Penna Plc, said: "Having conversations annually is not enough for career development starved individuals that are keen on getting their chosen career path back on track."
"For Generation Y and C as well, we know that frequent conversations about their career progression are desirable – so businesses need to consider how to build in regular informal catch ups with constructive feedback."
In a separate report, Penna claims mentoring could prove to be a useful tool for organisations looking to retain staff and prevent a 'talent drain'.
According to its research, 20 per cent of employees are not involved in mentoring schemes but would like to be.
The majority of those who engage in such initiatives do not see them as an opportunity to find work elsewhere. Just one in ten harbour such intentions, while 59 per cent see mentoring primarily as a chance to acquire new skills.
An in-house approach would be the most productive way to implement mentoring schemes, the report found, as 64 per cent of employees consider an external mentor to be the least desirable option.