What You Can Do to Keep Your Top Talent from Bolting
If there ever was time to embrace the practice of internal mobility, it would be now.
As Phenom People Chief Evangelist Ed Newman pointed out during his breakout session titled “Internal Mobility: The Cold Hard Facts” at last week’s Recruiting Trend & Talent Tech LIVE in Las Vegas, unemployment is the lowest it’s been since 1969 and, as a result, there’s been a steady increase in the number of people quitting their jobs to take positions elsewhere.
Newman cited one study that estimated roughly 27 percent of the workforce is at a “high risk” of leaving.
The good news, he said, is that 66 percent of employees would prefer to look inside their organizations for a new and better position. The bad news, he added, is that most organizations don’t have the programs and policies that are needed to address that preference.
In fact, many of the policies and practices in place today actually block internal mobility from happening. One example of this, he said, is the common policy of preventing employees from moving to a new position internally during their first 12 months of employment.
Maybe they can’t look for a job internally, he said, but that doesn’t prevent them from looking for one externally.
When it comes to internal mobility, Newman said, HR has its “hands off the wheel” and “lets the manager control what happens. Employees want to have a great career with their employer. But managers want to keep their talent and [with the help of HR, through its inaction] block them from moving internally.”
Not surprisingly, he said, many employees become frustrated and leave anyway.
Newman pointed out that the two main reasons employees move on is the lack of career advancement and developmental opportunities. Money is No. 3.
In response, he said, employers need to replace this “birdcage mentality” with a “bird-feeder mentality.” Put another way, rather than holding them back from moving, employers need to give them reasons to stay.