Unlocking Talent Mobility: Empowering Employees with Internal Career Growth

Engagement and retention have become focal points for most organizations as the Great Resignation continues to dominate workforce trends.

Many organizations try to forestall the consequences of a fluctuating talent market by offering higher salaries and promotions, further accelerating the vicious cycle of wage and title inflation. However,  financial rewards alone are not enough to gain a competitive advantage in the retention battle. Organizations seeking a more sustainable talent pool and a reputation as an employer of choice need to develop future leaders from within and empower employees through internal mobility programs.

In this article, we'll explore how organizations can enhance talent mobility by creating opportunities for internal career growth, empowering employees to develop their skills, and advancing within the company.

The Value of a Vibrant Internal Talent Market

For companies navigating economic uncertainty, hiring from within is a smart financial decision.

When you hire or promote from within, you cut down on recruitment costs like job ads and make the hiring process smoother, all while growing your team without adding more people. It’s a time-saver and cost-efficient, but the real value goes beyond just saving money.

The idea behind sourcing talent internally is simple: if you’ve invested in bringing great people on board, it makes sense to keep investing in their growth. By helping them develop and advance, both the employee and the company benefit in a big way.

The best companies know how important it is to empower their employees by managing talent wisely. Many overlook the value of their current workforce’s experience and engagement, but by tapping into this internal talent, you can build a stronger, more innovative team.

Reinvent Your Internal Recruitment Strategy

In addition to adhering to a general, pre-defined procedure, here are four best practices to follow to improve your internal recruitment strategy:

1. Keep Employees Informed About Open Positions: Hosting an internal career fair allows employees from different departments and functions to learn more about each other and the career paths available to them. This helps them think about how they can use their strengths and what skills they need to develop to take on new challenges. You can also proactively promote a tailored range of jobs that best match their experience and interests.

2. Reward Participation: Organizations should experiment with different methods to facilitate internal mobility. Offer incentives like skill-based certifications, mentorship, or leadership opportunities to those eager to grow. Celebrating these efforts motivates others and strengthens a culture of development.

3. Support Employee Development: Leading companies offer structured learning and development opportunities through interactive and easy-to-use career planning tools that help employees identify the right internal career options for them and how to achieve them. These tools can give employees a clear understanding of the skills needed for specific roles, along with the proficiency levels required for each skill. They also enable employees to evaluate their current proficiency in these areas.

4. Communicate clearly: Always communicate the requirements and expectations of an open position, as well as the reasons behind the final hiring decision. If multiple candidates are competing for the same role, be thoughtful in how you share your decision. Internal candidates are the strongest brand advocates and deserve to know why they didn't get the job.

Engineer the Internal Talent Market Mindset

To truly improve internal talent mobility, you need to shift your mindset and build the right framework for creating opportunities. Here are three levels to focus on::

• Business Leaders: Change has to start at the top. Hence, unless senior leadership truly believes in the value of internal mobility to develop future leaders, the initiative is unlikely to be a success. When leaders are on board and actively support the program, it gains the momentum it needs to succeed.

• Managers: If senior leaders do not hold managers accountable—and encourage, measure and reward their efforts to export talent outside of their teams—this can pose silent challenges to the success of an internal mobility program.

• Employees: Employees can be risk-averse and often fear moving out of their comfort zone for fear of losing the market value of their skills. Until they are convinced of the value of building a portfolio of skills that will better position them for future roles, they can become a major barrier to internal mobility.

Unleash the Power of Internal Talent Mobility

Ultimately, unlocking the power of internal mobility requires organizations of all sizes to recognize that there is more to creating a talent pipeline and engaged workforce than financial rewards and promotions. Many companies, while focusing on their next hire, often overlook the exceptional employees working right under their noses—employees who just need some support to take their skill sets to the next level.

Well-designed career paths, efficient talent review processes, and a commitment to rotational mobility can help organizations thrive. Nevertheless, having the right mindset to lead, manage, and work is key to sustainable mobility in the workplace.