Internal Talent Mobility Key to Employee Retention

There’s nothing demotivating than being stuck in a dead-end job with little chance of career progression. With over 4 million workers quitting their jobs every month and the U.S. unemployment rate at 3.8%, it’s clear that employees are leaving their jobs for career advancement elsewhere. Unless organizations offer career development opportunities and make their talent feel valued, they face the risk of losing talented employees.
 

It is clear that internal talent mobility (ITM) is more of a priority now than it was before Covid-19. How can organizations implement an ITM strategy? How do career agility and internal mobility work together?

The November edition of Talent Management Excellence includes informative articles that focus on internal talent mobility, strategies for reducing turnover, pay transparency, and much more.

Research says that only about one-third of employees are fully engaged at work. That means that most companies are leaving productivity on the table because two-thirds of employees are not fully engaged. Talent mobility has the potential to help employees tap into their interests and their passions, by enabling them to work on projects of their own choosing. Edie L. Goldberg's article, Talent Mobility: From Career Development To Agility, offers valuable tips to leverage an internal talent marketplace.

To win in today’s agile job market, in particular in the tech market, an agile talent management strategy and approach are required to retain and develop talent. If we can create a culture of growth internally, employees will feel empowered to seek new opportunities for development within the organization, share knowledge, and experiment beyond the parameters of their current roles, according to Irdeto's Alrik Boonstra in his article, Creating A Data-Driven And Human-Centric Talent Management Approach.

Panzura's Jill Stelfox in her article offers 5 tips for building the best talent and unleashing rapid growth and innovation.

Is it okay to talk about your salary with coworkers? Innovation Culture Institute's Yoram Solomon in his article, Pay Transparency: Should You Keep Your Salary A Secret? explains how pay transparency increases trust and reduces discrimination.

In brief, organizations that invest in their people leave them with engaged and productive employees. This includes being intentional about who are hired, where they are placed, and how their individual skills are developed.

We hope you find the articles in this issue informative and helpful and, as always, we welcome your valuable feedback and suggestions.

Happy Reading!