There are several points in the year where people may consider a career move. Like after the holiday season when workers have had a chance to reflect on their current roles and how these align with their ambitions. Similarly, the period following major career events, such as finishing a qualification or stepping-up into new responsibilities. Even in current times, where many have been furloughed and have extra time to think.
Knowing why people move on. Every month, across the U.S. 3.5 million people leave their jobs voluntarily — for new roles, other companies, different industries, or leaving the workforce completely. With this, comes a loss of knowledge and experience, plus rising costs to attract, recruit and onboard replacements.
Most workers seek new opportunities and chances to develop throughout their careers. In order to retain workers, especially within business-critical roles, organizations need to focus on their Internal Mobility strategy.
Retaining valuable talent. The average cost to hire a new employee is $4,129 and it can take, on average, 42 days to fill a vacant position. By identifying the talent you have (and their skills and aspirations) and then by mobilizing them onto new projects and roles aligned with their skills and career goals — you can create a competitive advantage for your organization. Where you have a worker who is interested in a new opportunity, but who doesn’t have the required skills — offer them the learning resources needed to develop those required skills.
Minnesota’s Mayo Clinic offers a great example. The company encourages employees to be lifelong learning and to build their career paths based on exploration and growth. Managers work with their team to build new skills and experiences through learning resources and career opportunities. As a result, Mayo Clinic has a low turnover rate and many employees with 30-year tenures. Continue reading here…
Via: The Staffing Stream