That webinar we hosted, “Better Talent Faster? It’s Possible!” revealed an excellent talent resource so obvious that you might smack your hand against your forehead for overlooking it.
A study by Bersin by Deloitte, comparing organizations with “mature” talent acquisition practices to those not as highly ranked, showed huge differences in sourcing strategies.
One of the three top resources used by those mature organizations is internal candidates – with top-ranked organizations allocating twice as much their recruiting budget to this source than those ranked lowest.
Why? Internal mobility makes recruiting a lot easier, a lot faster, and a lot less expensive. We even heard how one organization filled 74 percent of its field leadership roles internally over the last year.
During the webinar, Sarah Wilson — then Director, Talent Acquisition & Performance Management at Indigo Books & Music explained that internal mobility makes a lot of sense because you already know candidates who fit your culture and can easily be more productive almost from day one in a new role.
Candidates sourced internally demonstrate less turnover and there’s no need to rely on more expensive agency resources or job postings to identify promising talent.
Even better, internal mobility improves your organization in other ways.
Internal mobility: No need to look elsewhere
Even back in 2015, a Gallup Workforce Panel study showed that more half of employees overall are actively looking for a new job. But the reasons for doing so weren’t necessarily focused on compensation. Employees reported being far more interested in looking to expand their experience, knowledge, and opportunities.
That’s not too much to ask, is it?
In a job market where finding top talent grows ever more challenging, internal talent mobility not only helps your employees realize their aspirations while continuing to work within your organization, it keeps your recruiters happy because they have a much deeper talent pool to choose from.
During that webinar, Robin Erickson, Vice President, Talent Acquisition, Engagement, & Retention at Bersin by Deloitte explained how internal mobility leads to hires that are more adaptable and achieve higher performance, and can easily transition into new roles in companies where they already work.
As employees see this in action, they’ll be looking for new opportunities, but be far more conscious of those that you may be offering.
Make internal mobility part of your culture
Companies that demonstrate internal mobility can easily boost morale because as they see career opportunities within your organization they become more engaged.
But while it’s easy to consider internal candidates from time to time, establishing a formal initiative to promote it as a standard practice becomes more effective. When doing so, be sure to include these three key steps:
- Set quantifiable goals and objectives so you can track performance against such metrics as retention, job satisfaction, etc.
- Be transparent so employees can easily know when suitable opportunities may be available, and that internal team members are welcome to express interest
- Establish appropriate training, mentorship, and other programs that encourage leaders to help other team members broaden their skills and experience
Focus on both lateral and upward transitions
While “climbing the corporate ladder” was once considered part of career advancement, flatter organizations can benefit from programs that allow employees to move to different teams, which enhances collaboration overall and eases disruption when new roles are filled by those who already know your company and culture.
So set internal mobility into motion. You’ll surely see some movement in your recruiting performance, filling roles faster at less expense.
Even better, you’ll be following the same best practices as companies that are known to rank highly at being mature talent acquisition organizations,
And better yet, you’ll show clear proof to employees they don’t have to leave your organization at all to be mobile in their careers.
So look inside not outside, and encourage employees to do the same. Then everyone wins in the battle for top talent.