By Oracle Accelerate for Midsize Companies on Oct 16, 2013
By Steve Viarengo, Vice President Product Management, Oracle Taleo Cloud Services
Does your organization have a formal program in place for Talent Mobility? If you’re like most midsized businesses the answer is “no,” and it’s more likely you are asking yourself “What does Talent Mobility mean?” Talent mobility is the movement of employees from one position to another within an organization and whether you are aware of it or not is a critical component to employee satisfaction and corporate success.
Over the years, studies have revealed a significant correlation between internal employee mobility and corporate performance. Seminal research conducted over the course of a decade found that the top 10 percent of companies with “high-performance work systems” had four times the amount of sales per employee. Remarkably, these companies filled more than 60 percent of jobs from within. In contrast, the bottom 10 percent of these companies filled just 35 percent of jobs internally. In addition, research has shown that many great leaders have emerged from within organizations’ ranks.
With a strong internal mobility program, companies can leverage their employee base to achieve corporate goals, shifting resources where they’re most suited. Best of all, they can do so without the costs and delays associated with a conventional external recruiting process. Without such a program in place, top talent will be more likely to disengage or depart. After all, if they can’t see a career path within the organization, or they realize that other employees are being promoted or recruited without the skills and competencies to do the job, your top talent will likely go elsewhere. And if leadership pipelines are clogged with employees lacking the appropriate mix of skills and experience to step into pivotal roles, business growth will suffer.
Benefits you can expect your organization to see from a strong talent mobility program include:
- Shorter time to productivity
- Greater employee engagement and retention
- Lower talent acquisition costs
- Streamlined information flow
- Limited competitive-intelligence leakage
- Stronger leadership teams
- Better financial performance
To implement a successful talent mobility program you must make sure your employees are aware of open positions and opportunities, proactive match good candidates to open roles, and establish talent pools in your employee base to clearly understand where your star performers are in the organization. This may sound like a lot of work, but getting started is easier than you think and the rewards are very compelling.
To learn more about Talent Mobility read our complete whitepaper.