The movement of talent within a company both laterally and vertically is commonly known as Internal Mobility. Also, referred to as Talent mobility, it’s built on a framework that enables an agile workforce environment by breaking down departmental silos. Having an agile workforce is a futuristic way of controlling retention. Where you invest in developing a strategy to upskill and reskill your employees, which in turn enables your workforce to move across verticals and change streams by exploring a range of opportunities.
Organizations can aid to develop the skills of employees to meet the demands of the future using Talent Intelligent insights. Internal mobility is a strategic solution your company can implement to minimize the risk of attracting and retaining top talent. Give employees the opportunity to move into positions that are underrepresented by women or people of color. For when you use a talent intelligence platform like JobsPikr, you can support your organization to meet its diversity and inclusion goals. In this blog, we will take a deeper look at why reskilling and upskilling is an important part to improve internal mobility.
Talent Mobility within the Company
Let employees enjoy the greater freedom to learn new skills and move across the departments within the organization. This lateral movement often is offered with no major change in salary and designation level. This is beneficial to learn new skills and improve cross-functional collaboration. Changing the physical location to align with business goals or meet employee preferences, also helps with retaining the workforce from quietly quitting the company. Vertical mobility, commonly known as promotion, is also a powerful way to retain talent, boost morale and employee satisfaction. It is highly regarded by employees and sends out a positive sign to the workforce. Internal talent mobility matters because it helps to retain top talent, foster diversity, and upskill the workforce.
Retain Top Talent
Overall at a higher level, retaining talent and reskilling them, speaks volumes about the company’s standpoint. Retainment and upskilling improve the engagement and morale of employees. Where good management helps to build trust by discussing career goals with the employees and identifying their potential. A company investing in employee growth and success demonstrates a long-lasting impact on its employees and it works best to retain talent.
Foster Diversity and Inclusion
Give employees the opportunity to move into positions that are underrepresented by the women’s workforce or people of color. Using a Talent Intelligence (TI) platform can be a great way to understand locality and diversity. Top-performing employees at work usually get noticed, and mostly only they become eligible for IJPs. But only some employees get highlighted within the organization, making other talents go under a shadow. A TI platform focuses on people at all levels and roles for job postings and provides diverse talent to empower workforce strength.
Upskilling and Reskilling
One of the most pressing challenges we face today is the shortage of skill sets and an evidential skill gap across industries. As the world is progressing towards an agile workforce, enabling the employees with skills and tech, rather than looking at their experience, is one way to reduce layoffs. It is also beneficial for employees as they can progress towards new roles and responsibilities that they are interested in. It is simply a win-win situation for all.
Build an Internal Talent Mobility Program
Developing an internal mobility strategy is a cost-effective way to help businesses bounce from hiring freezes and economic recovery. This program helps to cut down recruitment costs, for we know the starting salary of an external hire is at least 15% higher than your current talent pool. Educating management on the benefits of internal mobility can yield long-term results, as it fosters a culture for discussing job postings that support employees. One way to implement the program is to look at furloughed employees first. This helps them to spend less time on training and processes as they possess business knowledge and workaround of the company. Recruiters can also get a sense of other open positions that could be the right fit for employees by keeping a tap on soft and hard skills.
Work with the Right Technology
Working with tools and technologies for optimizing the workforce is the most impactful way to understand the marketplace, skill sets, and workforce intelligence. Talent intelligence platforms like Jobspikr facilitate insights on skill trends based on job titles and keywords for a smooth career transition. HR leaders and strategists can harness these talent insights to get a holistic overview of skills within their workforce. Further, HRs can use this data to address knowledge gaps and stay competitive.
Enable Great Talent Agility at Work
Today, the after-effects of the great resignation can be seen everywhere. Twitter has further laid off over 1000 employees, making a total of 4,700 lost jobs so far. Companies that are looking at ways to re-engage with the workforce can create an impact for reducing retention. Leaders of the field can access tools like JosPikr to view and manage talent insights. Look at different options to improve internal recruitment to thrive in the new digital world. Recruit and organize talent mobility programs by prioritizing diversity and flexible work opportunities. Use TI insights to stay ahead of hiring facades, downturns and build a resilient workforce.