What's Your Talent Mobility Strategy?
Written by Mikala Young
Have you made talent mobility a priority this year for your organization? If not, consider putting it on the list for your team to strategize on for your upcoming fiscal year review. Talent mobility is the driving force and catalyst to bridging the skill gaps found in your organization. As you consider talent development you have to look at all the ingredients needed to have a successful work environment for your employees. Here are 3 factors that contribute to building a case for your upcoming talent mobility program.
Meet changing business and market needs
The great thing about utilizing the strengths of your employees means they have an opportunity to evolve with your company's business plan. As the workforce continues to globalize the standard for how we work and what we create inevitably creates a breeding ground for change. This is where your internal talent comes into play. Inviting your employees to stretch beyond their current responsibilities and grow into their career capabilities can lead to 30% better processes and 23% more productivity. Consider the skills needed to scale your business. What ROI skill-building programs can you create to match the upcoming market?
Cutting external recruitment costs
The best part about seeking out your internal employee strengths is the cost savings that come from hiring within. External recruitment is one of the most expensive areas for most organizations. In fact, according to the Society for Human Resource Management companies spend $4,129 on every job that is open - wow! By providing space for your employees to grow into opportunities that present themselves, you’re saving costs on onboarding and ramping up. This in itself should be one of the top reasons you take talent mobility seriously. It is a game-changer for your company's financial success.
An extension to driving home DEI
Talent Mobility is at the intersection of a strong DEI program. Studies show that you’re more likely to retain diverse employees if you create skill-building programs that offer them meaningful growth in their careers. HR professionals within the company need to come together, first, to identify the skills and gaps that are needed to maintain and scale the organization - this looks different for every organization. From there, build out your employee database. Who are your key players? What are some of their goals? What upcoming jobs are on the table that could be a great stretch opportunity or a new avenue for the business to tap into? Leverage your workforce, oftentimes your employees have outside passions that can be well utilized within your company that you’re just not tapping into.
Talent mobility is like playing tetris in your organization. When you have the right skill-building programs, employees with great talents, and the right leadership to build out a successful organization, the bottom line will always be taken care of. Build out a strategy that makes work meaningful for your employees and watch how your attrition comes to a halt. Talent Mobility is all about being proactive versus reactive. What kind of organization do you want to be?