HR & Management
How businesses can fight “New year, new you” mentality to retain top talent
6 min read
03 February 2016
The New Year always brings about a period of change – and the “New Year, new you” mentality spurs employees to look for greener pastures to see what else the job market can offer. With a fifth of the workforce stating that their New Year’s resolution is to find a new job, businesses need to be wary of losing talent.
In order to mitigate the risks associated with this mantra and secure top talent, businesses can benefit from refreshing internal mobility programmes. Internal mobility programmes encourage employees to apply for new roles within their organisation and, as a result, help businesses with attraction and retention efforts.
Successful internal mobility programmes help hiring managers learn about the skills, experiences and aspirations of internal candidates, while employees learn about new roles that will allow them to contribute to the organisation in new and different ways.
It is this kind of organisational transparency that can increase employee engagement and retention, while shortening time to productivity and reducing competitive intelligence leakage.
An organisation’s most valuable asset is its people, but this fact can often be overlooked. It is vital that businesses do not become passive when thinking about internal mobility and the workforce at large, ensuring that steps are taken to improve staff retention.
Read more on staff retention:
- 5 key reasons why a third of UK workers want new jobs in 2016
- How does your business retain talent?
- Why did you get out of bed for work this morning?
In today’s economic climate, retaining a relevant and talented workforce is imperative for business growth and development.
Organisations which demonstrate commitment to the wellbeing and development of workforces will reap the rewards. By evaluating the skills, traits and motivations of current employees against a focused talent strategy, employers can ensure all staff are provided with personalised development plans to help them progress.
Our own research has found that 87 per cent of employees feel that having a strong internal mobility programme would definitely help with attraction and retention efforts. It also revealed, however, that only one third of employees reported that their companies have such programmes in place.
In order to implement a strong internal mobility programme into a business, employers can follow the three golden techniques on the next page.
(1) Take a holistic and strategic approach
When implementing internal mobility programmes, companies need to utilise supporting technologies that can facilitate employee and candidate marketing. This provokes interest among employees and educates them as to the opportunities available within the business.
The majority of employees do not have a full understanding or visibility of available opportunities and so, in having the tools that enable organisations to communicate with employees more frequently, they will be more aware of the opportunities and inspired to apply for positions within the company.
(2) Keep it simple
Companies who make an effort to provide their employees with all of the information, collating it into a single location are the ones who will see success.
Having a single portal that is easily accessible and consumable for employees is important as it means employees will not have to go searching across multiple intranet sites.
Additionally, having this portal highlight what support will be given should an employee move positions, can be incremental in the candidates’ decision making process.
For instance, if an employee sees a position which requires relocating, if employee resource groups that provide support for such transitions are made visible, then they will be more likely to apply for the role as it will be a much more informed decision.
(3) Culture is key
Companies need to instill the mentality that internal mobility is positive and spread the culture throughout. Internal mobility needs to be spearheaded by senior management, providing the rest of the workforce with the confidence to seek out and apply for internal roles.
It creates a healthy environment for employees, increases the diversity across work/project teams as well as having a positive impact on the organisation and its employer brand.
Internal mobility should be seen as one of the keys to success in any recruitment initiative. In today’s “always-on” highly technical workplace, it’s increasingly difficult to find qualified talent.
Giving current employees the opportunity and the mechanisms to reach for new positions will help ensure an effective workforce now and into the future.
As with any candidate experience, it’s critical to make the process as seamless, engaging, and accessible as possible.
Organisations can find it to be an extremely effective business strategy as it encourages high-potential individuals to be nurtured and retained to ensure leaders of the future are in place to drive the business forward.
In short, it’s about educating, provoking and inspiring employees to seek opportunities within before considering external opportunities.
If you’re worried your staff may be looking to move on, it could be because there are practices that they don’t approve of, so meet the five businesses you should never copy when it comes to company culture.
David Marzo is the global VP & GM at talent acquisition firm Futurestep