Unlocking Employee Retention: The Power of Internal Mobility
Internal mobility refers to the movement of employees within an organisation, from one position to another, with the aim of providing them with new opportunities to grow and develop their skills. It is a trend that has gained traction in recent years, as employers recognise the benefits of investing in their employees’ growth and development. One of the most significant advantages of internal mobility is its impact on employee retention. In this article, we will explore how internal mobility increases employee retention and why it is crucial for organisations to prioritise this practice.
According to a recent survey conducted by LinkedIn, internal mobility can have a significant impact on employee retention. The survey found that organisations with a strong internal mobility program had a retention rate of 59%, compared to a retention rate of 45% for organisations without such programs. This translates to a 14% increase in retention for organisations that prioritise internal mobility.
The survey also found that employees who participated in internal mobility programs were more likely to stay with their organisation long-term. Of the employees who participated in an internal mobility program, 74% said they were satisfied with their career development opportunities, compared to only 32% of employees who did not participate in such programs. Additionally, 86% of employees who participated in internal mobility programs felt that their skills and expertise were being fully utilised, compared to only 53% of employees who did not participate in such programs.
These findings demonstrate the importance of internal mobility in retaining top talent and creating a more engaged and motivated workforce. When employees feel stuck in their current roles, they are more likely to look for opportunities elsewhere. This is especially true for high-performing employees who have a desire to learn, grow, and take on new challenges. If an organisation does not provide these opportunities, they risk losing their most talented employees to competitors. Internal mobility provides a solution to this problem by giving employees the chance to explore different roles and responsibilities within the organisation. This, in turn, can lead to increased job satisfaction, motivation, and engagement, which are essential components of employee retention.
Internal mobility also allows employees to gain a broader perspective of the organisation and its operations. When employees move from one department to another, they gain a deeper understanding of how the company operates, how different teams work together, and what challenges and opportunities exist within each department. This knowledge can be invaluable in helping employees develop a long-term career path within the organisation. It also makes them more adaptable and resilient, as they are better equipped to navigate changes within the organisation.
Furthermore, internal mobility provides a cost-effective way for organisations to fill open positions. When a position becomes vacant, employers can often turn to their existing pool of talent to find suitable candidates. This eliminates the need to spend time and resources on external recruiting, which can be a lengthy and expensive process. Internal candidates are also more likely to have a good understanding of the company culture and values, which makes them a better fit for the organisation.
In addition to the benefits mentioned above, internal mobility can also have a positive impact on employee morale and company culture. When employees see that their organisation is committed to their growth and development, they are more likely to feel valued and appreciated. This can lead to increased loyalty, commitment, and pride in their work. It can also foster a culture of collaboration and teamwork, as employees are encouraged to work across departments and share their knowledge and expertise.
However, for internal mobility to be effective, it is essential that organisations have a clear and transparent process in place. Employees need to know what opportunities are available, how to apply for them, and what the requirements are. Employers also need to communicate the benefits of internal mobility and encourage employees to take advantage of it. This can be done through regular training and development programs, career coaching, and mentoring.