Internal Mobility: A Win-Win in the "Big Quit"Feb 14, 2022
These days, attracting and retaining talent is a top concern. Starting salaries are on the rise, and many organizations are doubling down on benefits to keep employees from leaving, offering everything from childcare stipends to education reimbursement and more paid time off.
Even so, millions of US jobs remain unfilled. This is due in large part to workers shifting where they want to work and how, if they want to keep working at all. Since the start of the pandemic, the number of people retiring from the workforce has surged, as has the number of entrepreneurs who have decided to start their own businesses.
Navigating the shortage in external talent has been challenging to say the least. The silver lining is that without the steady flow of applicants from outside the organization, leaders are now looking within.
Internal mobility programs have become an essential strategy to survive the "Big Quit". They facilitate the movement of talent laterally and vertically within an organization, and offer employees the chance to create a fulfilling career path, remain engaged and productive, and contribute at a higher level to their organization’s performance.
However, a successful strategy includes more than stretch assignments and talent sharing - which is where employees make room for a new project that's outside their day-to-day responsibilities. It requires intentional skill-building programs, which includes leadership skills, and experiential learning to ensure feedback and human assistance. To address the gaps in internal offerings, many employers are investing in online learning solutions, specialized training programs, and coaching services.
While internal mobility does require focus and investment, it saves time and money in other ways. For example, instead of recruiting, hiring, onboarding, and getting new hires up to speed, leaders can invest in developing the strengths and skills of workers who already are bought into the organization's vision, strategy, and ways of working.
This is a win-win, considering most employees want to be developed. According to a recent LinkedIn report, 94% of workers would stay at their place of work longer if their employer invested in their careers. Another study showed 63% of employees are interested in being considered for a new career opportunity within their company, further reinforcing the value and interest in initiatives that support internal mobility.
The reality is that a company is only as good as the people that work there. An internal mobility strategy demonstrates a company is serious about employee development and that it values learning, growth, and individual career ambitions. When values and actions are aligned in this way, organizations create adaptive, resilient cultures where both people and profits can thrive.
Stay connected with news and updates!
Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.
We hate SPAM. We will never sell your information, for any reason.