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How Companies are using Talent Marketplaces to Promote Internal Mobility

Source | www.myhrfuture.com | Caroline Styr

Careers are changing. The era of linear career paths as the #1 form of professional growth is coming to an end. Slowly but surely, “career switches” are becoming less of a surprise (or even concern) as the global workforce acknowledges the rapidly changing job market. What’s more, the spotlight is on lifelong learning to keep employee skillsets – and employees – agile throughout their careers. And let’s not forget younger workers, who are keen to experiment and try on different roles whilst growing and rising within an organisation.

In the coming era of agile professional growth, finding the next role within their organisation is a challenge for workers. Over 50% of respondents in Deloitte’s 2019 Human Capital Trends survey said it was easier for employees to find a job outside the organisation than inside. 

This is because most organisations are stuck with outdated progression models, where people enter the company and work their way up the pyramid. These models don’t suit a more fluid, modern approach to career development. Much rarer are flatter, more agile progression structures where movement across teams, departments and operating divisions is normalised. However, there is an awareness that this kind of movement – known as internal mobility or talent mobility – is important. In LinkedIn’s 2020 global talent trends report, internal recruiting was the third most important trend for the future of HR, with 65% of talent professionals acknowledge that their company needs to improve its internal mobility efforts. (Internal talent mobility also features in our list of emerging strategic workforce planning trends.)

The business case for internal mobility is straight-forward: lower recruitment costs, the avoidance of productivity losses during onboarding and an attractive employer brand (especially to job-hopping millennials). When Deloitte looked at the fastest-growing organisations, defined as those growing at 10 per cent or more compared to the previous year, “they were twice as likely to have excellent talent mobility programmes than organisations that were not growing at all, and more than three times more likely than organisations whose revenues were shrinking.”

Source: LinkedIn’s 2020 Talent Trends Report

Source: LinkedIn’s 2020 Talent Trends Report

Shifting to an agile career progression model is a big ask – instead of straight-forward linear promotions, organisations face the challenge of creating their own internal gig economies. This is where the idea of talent marketplace comes in: a data-driven approach to managing a fluid workforce.

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