Winning Strategy for Retention and Career Design
Forbes Magazine and Josh Bersin call internal mobility a key element of business strategy in 2023.
The Perks of Internal Talent Mobility
Retain and Engage Your Team
This is because internal mobility has proven to drive growth, innovation and employee satisfaction.
What is internal mobility?
We can describe internal mobility as the intentional movement of employees into different roles, projects and departments within an organization.
COVID reshaped the employment landscape, which left many organizations with multiple vacancies, employees fulfilling dual roles, retention challenges, and a recruitment landscape being dictated by the job seeker.
Youth unemployment rates in South Africa coupled with labour shortages turn the pressure up for organizations to innovate and re-design the employee value proposition.
Nurturing a Culture of Growth:
Internal talent mobility is like a high-five to your team, showing that your organization truly cares about their professional development. This not only boosts their morale but also keeps them on board for the long run.
Supercharging Employee Engagement:
Providing your employees with opportunities to climb the career ladder and expand their skill set - hands them the keys to a world of motivation. They become more engaged, pumped up, and dedicated to their roles.
We're living in the age of flat organizational structures and shorter job tenures. In this landscape, talent mobility beats traditional promotions as it offers better opportunities. As Forrester's Betsy Summers mentioned, talent mobility can do wonders for your organization by enhancing retention, bringing in top-notch talent, speeding up productivity, and cutting down hiring costs.
Fostering Knowledge Sharing and Teamwork
Tapping into Internal Wisdom:
With internal talent mobility, your organization can become a hub for sharing knowledge and expertise among various teams and departments. It's all about cultivating a culture of teamwork and innovation.
Mixing and Matching Ideas:
Talent mobility isn't just about moving employees around; it's about exposing them to different roles and viewpoints. This cocktail of experiences leads to an exchange of ideas and best practices, which keeps the innovation train running.
Building Skills and Staying Agile
Expanding Skill Horizons:
Internal mobility isn't just a job change; it's a skill-building adventure. Your employees get to pick up a variety of skills, turning them into adaptable, versatile pros in today's fast-paced business world.
Securing Your Future Workforce:
By encouraging your team to explore new roles and learn new skills, talent mobility acts as a shield against future challenges. It's your ticket to being ready for whatever opportunities and obstacles come your way.
Unlocking the Secrets to a Successful Internal Talent Mobility Program
Implementing an internal mobility program requires robust support mechanisms. Here is the lowdown to get started.
Create a Clear Vision and Game Plan
Dream Big and Align:
First things first, align talent mobility with your organization strategy. Think long-term and make sure efforts are aligned to where your organization is going.
Lay Down the Ground Rules:
Craft a playbook, complete with guidelines, policies, and the nitty-gritty of how talent mobility works. Define who's eligible, the support they'll get, and how you will measure success.
Build the Support System:
Set up structures to identify employees who want to spread their wings. They're ready for new opportunities; give them the opportunity.
Nurture a Learning-Driven Culture
Offer a Variety of Learning Opportunities:
Provide a diverse range of learning options, encompassing formal training programs, mentorship, job rotations, and challenging stretch assignments.
Promote Lifelong Learning:
Encourage your team to adopt a growth mindset and a culture of curiosity. Motivate them to actively seek fresh challenges and acquire new skills.
Facilitate Transparent Communication
Internalize Opportunity Awareness:
Ensure all employees are well-informed about the wealth of mobility options available within your organization. Utilize various communication channels to make sure everyone is aware of the various career paths and roles available.
Nurture Open Dialogues:
Promote honest and ongoing conversations between employees, managers, and HR personnel. Encourage discussions about career aspirations, identifying skill gaps, and exploring mobility opportunities.
Provide Guidance and Resources
Career Development Assistance:
Extend support and guidance to help employees to help them identify their career goals, recognize their strengths, and pinpoint areas for improvement.
Invest in Skill Development Initiatives:
Allocate resources to training programs, workshops, and other educational resources that equip employees with the skills necessary for success in new roles.
Monitor Progress and Continuously Improve
Measure and Assess:
Implement metrics and key performance indicators (KPIs) to gauge the impact of your talent mobility initiatives. Analyze factors such as retention rates, employee satisfaction, and skill development.
Strive for Ongoing Enhancement: Regularly evaluate and refine your talent mobility program based on feedback, insights, and evolving business requirements.
A Word of Caution
Not all talent mobility strategies are created equal.
There are two approaches:
formal (involving job postings and interviews) and informal (relying on word-of-mouth, sponsorships, and networking). Surprisingly, a Harvard Business Review study revealed a stark contrast in the quality between the two, with formal methods consistently outperforming informal ones in terms of performance, productivity, and retention. (Forrester, Betsy Summers, Oct 2021)
By embracing internal talent mobility, organizations can unlock their team's full potential while fostering a culture of growth, collaboration, and adaptability. With a well-planned strategy and a commitment to continuous learning and development, organizations can reap the rewards of internal talent mobility, including heightened employee engagement, enhanced knowledge sharing, and a workforce prepared for future challenges. Embrace the power of internal talent mobility, and witness your organization thrive!