Leaving talent at the door is synonymous with leaving money on the table.
No matter where you look within your organization, you’ll find skills that are being underused and even worse, undiscovered. One problem is, most companies are still operating under primitive succession structures that leave little room for agility. And while the corporate ladder may appeal to an older generation, the leaders of tomorrow aren’t just seeking promotions within their department, but rather opportunities for growth throughout the entire organization.
Talent mobility allows organizations to tap into underutilized skills and push beyond the boundaries of traditional roles. It means taking a proactive approach to the development of their most critical assets, the people. But not just any people, the right people. Jim Collins, the author of Good to Great says it like this, “The ultimate throttle on growth for any great company is not markets, technology, competition, or products. It is the ability to get and keep enough of the right people within the company.”
For the right people, talent mobility can offer two types of opportunities.
For some, it can open doors to entirely new careers that allow them to build upon their skills and challenge their existing knowledge. For others, it can mean actively applying those skills in company-wide projects that align with their interests and even ignite passion throughout their work week.
In a traditional workforce, employees tend to get locked into their business units while hiring managers spend more time and money outsourcing critical positions. As technology advances, however, this is no longer an acceptable way of functioning. With robust talent mobility systems, internal talent pools are formed, making the capabilities of the workforce apparent and accessible to administrators. As a result, the job of a hiring manager becomes less painstaking, while precious company resources are conserved, and the employee moves to the forefront of company growth.
You might be wondering what you would do with eager talent pools if you don’t have enough management and senior positions available. Or how do you retain employees with impressive skill sets without having to create higher paying jobs?
Sometimes, the only way to go isn’t up; it’s sideways.
According to LinkedIn’s 2014 “Exit Survey” of 7,350 members across five countries, the number one reason individuals chose to leave their jobs was that they found “greater opportunities for advancement.” From my professional experience, advancement doesn’t automatically mean a vertical promotion. It can mean opportunities to acquire new skills, gain hands-on experience, or work closely with a seasoned mentor. All of which offer excellent value.
Talent mobility can be a powerful strategy when applied. If executed successfully, hiring from within can improve three areas of your business: increase retention rates, reduce attrition, and strengthen your talent pool.
For more information about talent mobility download our latest whitepaper, Why Every Company Needs An Internal Talent Marketplace.
To schedule a demo please contact our sales team at Sales@Rallyteam.com.