26% of employees actively seek new career opportunities, and another 39% are open to the idea. One way to reduce employee turnover is to create desirable internal opportunities.
New roles mean employees can learn new skills, take on new challenges and advance their careers. However, there are challenges, particularly if employees are not adequately supported during the transition.
Pull Strategy for Active Job Seekers
The goal for HR leaders is to recruit active internal job seekers. Only 27% of internal active job seekers say their company makes finding positions that match their interests easy.
The talent management team must advertise these positions, prefer internal hires, and list their career benefits. Companies will benefit from better retention rates if they make it easier to find internal openings and apply.
HR leaders must segment their approach to attract all three active job seekers.
- Low risk: 10% of job seekers prefer internal opportunities. Talent management must make sure these employees can find positions.
- Medium risk: 7% of workers seek new jobs, including external ones. Make internal job searches easy and highlight internal benefits: Faster career advancement and easier transition.
- High risk: 9% of workers want to leave for external opportunities. Informing them of desirable internal vacancies and highlighting the benefits of staying may convert some.
Push Strategy for Those Not Actively Looking
Talent management can convince non-seekers to take an internal position under the right circumstances. External recruiters use employee referrals and social media to attract candidates during record-low unemployment rates.
A survey found that 52% of employees would respond to outside recruiters. Talent management must leverage tactics to present them with enticing opportunities.
- Personalize job recommendations for qualified candidates using AI-based matching algorithms.
- Promote internal mobility by offering an internal referral program.
- Engage recruiters by linking internal hiring goals to performance indicators and provide them access to employee information.
Best Practices for Talent Management
Talent management must maximize retention by targeting both active and passive job seekers. Let us examine how talent management can cultivate employees for internal movements.
Assess Employee Needs
Talent management must assess employee skills and analyze their preferences and interests to match employees with roles that suit their strengths and passions.
A customer service rep with good communication skills but no sales experience can move to sales by learning the necessary skills and vice versa.
Provide Training and Development Opportunities
Talent management must plan continuous training and development for employees to succeed in new and existing roles. The plan can contain in-person, on-the-job, or online training, or a combination of all.
Customized training plans meet an employee’s specific needs and goals.
For instance, someone who wants to be an online marketing associate can get customized training that includes social media, email, and content creation classes.
Talent management must make these learning sessions available for employees considering 59% prefer self-paced learning, and 68% prefer learning at work.
89% of employees feel that learning and development opportunities are important factors in their job satisfaction, and 70% say that training and development opportunities influence their decision to stay with an employer.
Assign a Mentor and Coach
Coaching and mentoring could help employees improve and succeed with regular feedback and advice, helping them confidently transition.
For instance, a mentor can advise a new project manager on stakeholder management, roadblocks, and communication.
Map Employee Transitions, Monitor Progress, and Adjust Strategies
It is important for talent management teams to address employees’ objectives and duties. They must create a diagram of the current processes, goals, expectations, and tasks. This will help organizations provide managers and employees with stability during and after the transition.
It is important for talent management to track employee progress and adjust strategies during the transition. Regular check-ins and evaluations can identify employee strengths and weaknesses.
They could create additional training plans or mentoring for future role transitions.
AI-based talent intelligence platforms gather data from many sources and map role transitions with courses, certifications, and learning plans.
Draup for Talent enables talent management teams to plan high-impact strategies that transform their workforce. Additionally, the platform helps anticipate skills that can be enhanced for future core digital initiatives.
