Why global talent managers must focus on internal mobility
The global organization of today is a repository of a number of talented people, working in their assigned roles and developing expertise in their domains. There are times, though, when employees seek a change in roles and responsibilities within their organization. This could be beneficial for both the organization and the employee, as it could promote the latter’s talent with exposure to a different domain.
This is where the role of a global talent manager comes in. Among the many tasks of a HR professional is developing a proper system of internal mobility i.e. a change of role within the organization, between units or picking up different tasks. Deloitte defines internal mobility as “a dynamic internal process for moving talent from role to role – at the Leadership, Professional, and Operational levels.” The movement to new opportunities within the company can provide engaging and relevant experiences to employees, helping them meet their professional goals and improve their skills. Let us look at the top reasons why your talent management strategy should place high priority on internal mobility:
- Attracting and retaining good talent: Employees prefer companies that invest in their careers. Automation has often shortened the shelf life of employee skills, and companies that seek to grow employee skills are the ones who will attract the best talent and retain them for the longest.
- Saving time and money: Other things being equal, hiring a new employee is more expensive and takes longer than recruiting someone internally to a new role. The knowledge of workflows, policies and processes allows talent management professionals to save significantly on training costs for a new hire.
- Investing in the future: Opportunities to move within the organization are an investment in the skills of the workforce and thereby in the future of the organization. Employees can develop their skills and build on their experiences further.
Statistics suggest a negative correlation between unemployment and voluntary turnover – as unemployment falls, voluntary turnover rises. As per Deloitte, more than 50% of C-Suite HR professionals believe that it is becoming easier – 37% say it is much easier, while 20% say it is easier – for employees to find a job outside their organization as compared to within the organization itself. And, while according to IBM, 79% of HR practitioners say that internal mobility is important to their talent management strategy, only 53% believe it is critical. Clearly, the talent management industry needs to pay more attention to global talent management and creating opportunities within the company.
Let us look at the factors a talent management professional must keep in mind when devising a sound strategy for internal mobility:
- Don’t just focus on high-performers: Pay attention also to those with good potential.
- Educate and empower your managers: A well-informed manager can take better decisions about choosing the right talent for a role.
- Develop learning resources: Offer the right resources for employees to augment their knowledge and grow their experience.
- Make it part of your culture: Educate senior management about the value of internal mobility.
- Utilize the right technology to help: Take the help of technological resources to better match internal skills with role requirements.
Want to know how to better promote internal mobility? Click on the below infographic, and enrol for a talent management certification program to be equipped with the right tools! Contact us to stand out in the talent management industry.