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How much has talent immobility been contributing to the Great Resignation at your company? In fact, only 20% of employees “believe they can meet their career goals where they work” or “have their manager and organization’s support to pursue those goals—even in another part of the business” (Employee Wellbeing Report, Glint/LinkedIn from Sept. 2021). This data implies that for many of your employees—including key talent you want to retain—their most accessible or viable growth and career development option is achieved by leaving.
Moreover, an employee is 10 times more likely to leave if they feel their skills are not delivering value (Skills Advantage Report 2022). Therefore, without identifying employees’ skills and orienting their work towards their skills and strengths—which Gallup’s research indicates increases company profits by more than 10%--many are likely exploring alternatives right now where they believe their value will be realized and appreciated.
These reports uncover huge, missed opportunities and outcomes. Not that navigating internal talent mobility is easy since now careers are non-linear, taking horizontal and diagonal—as well as vertical—paths. A first critical step is that every team member (correctly) identifies and logs their current skills to be able to discover and map where they might go next.
As a leader, you need to be willing to pass rising stars on to other departments to support their personal growth and careers. It is also critical to foster good relationships across other groups to have the connections necessary to facilitate their transfers. Why not explore how well any team members who are ready to grow may be matched with compelling openings across your organization? If they need a few more skills to enhance their fit, investing in their training is a great way to engage and empower these employees.
It’s a mindset shift, acknowledging the new career landscapes, so that we can flip the challenge of a tight labor market—whatever the recession might bring. We all need good people, who are engaged in their jobs, for our businesses to thrive and grow.
At the same time, the best next step for one of your team might indeed be to leave your company which is not necessarily a bad thing. If you’re a small company, you can attract great talent by realizing that a mutually beneficial arrangement exists when they develop their skills and experiences serving your business before they take the next step up. Listen to my new podcast episode to hear Colin Field, CEO of Saffron Building Society in the UK, succeeding with this approach.
