Talent mobility. It’s an evolving talent practice that delivers incredible value for the workforce and the business, and it gives the organization a powerful competitive edge. At the same time, many employers still aren’t sure how to define this practice and what might be involved, so we’re going to break that down for you today by exploring what it is, how the research proves out the value, and how technology plays a role in making it all come together.
What is Talent Mobility?
The concept of talent mobility is relatively new, but it’s made up of familiar terms. Talent mobility is a more holistic approach to managing talent than just relying on an executive-driven succession plan or an ad hoc method for promoting employees to higher levels of responsibility. In addition, talent mobility considers the aspirations and interests of the individual employee as well, creating engagement opportunities by meeting the needs of individual workers.
By being more inclusive of these options when considering the bigger picture, employers can not only find more opportunities to grow and develop their workforce--the employees respond with greater productivity and performance.
Research Proves the Value of Mobility
Did you know that external hires often have lower performance scores and cost more money than internally hired candidates? Were you aware that nine out of ten of your workers are open to considering other job opportunities? These are just two of the factors that explain why talent mobility is so incredibly important to the business, but it doesn’t stop there.
For instance, a recent study by the University of Phoenix pointed out that a third of employees are asking for development at work, but they aren’t confident in the firm’s development program to adequately prepare them for the challenges ahead. Additionally, that same study showed that one in three hiring managers plan to create cross-functional learning opportunities to improve innovation.
Each of these pieces of research builds a business case for creating a streamlined program designed to grow and develop workers into more valuable assets for the organization. In the graphic below we outline three key areas where talent mobility can have a greater organizational impact.