The good news: “4 in 10 professionals are researching new jobs and networking every month, even though only 30% are actively looking for a new job,” according to LinkedIn’s Talent Trends 2015 report. The downside: 4 in 10 of your employees are open to jumping ship. And what happens if the company that your employees are considering joining can offer more than your organization can? In today’s workplace, it has become apparent that all job seekers are “active” (even the passive ones) in the sense that should a recruiter reach out or a new opportunity present itself, people are more willing to take the time to learn more about it.
But the issue isn’t that their current employer isn't giving them everything they need and more. They may be trading up, fulfilling their needs quicker by accepting a job elsewhere or just ready for something different. By implementing an internal mobility program, you’ll reduce employee turnover and be able to use this program as an attractive recruiting solution.
The Power of Internal Mobility Programs
Speaking from a personal standpoint, when weighing internships directly out of college, a company’s mobility program was more important to me than other factors – such as compensation and title. In the end, I chose WilsonHCG due to a strong sense of ownership in the development of my own career path, as well as the reputation and growth trajectory of the company. It didn't hurt either to see that 68 percent of current and past employees would recommend working for WilsonHCG and 86 percent approve of CEO John Wilson. I'm confident many people speak positively about working for WilsonHCG because to the incredible opportunity for career growth. That speaks volumes to the reputation and culture of the company – and sealed the deal for me!
Individual Development Plans
To keep the momentum of an internal mobility program, WilsonHCG incorporates individual development plans (IDPs), motivating employees by giving them a greater sense of ownership and let them forge their own path within the company. The results have been impressive, as employees voice their career path interests. Some have chosen a traditional career path, while others have moved laterally for a new experience or completely created a new position that the company hadn’t yet considered! This is not only motivating employees, but WilsonHCG as a company has seen a great benefit from employees identifying a role that wasn’t yet available and taking departments to a whole new level.
Being in charge of your own future at your current employer gives you, as an employee, a strong sense of ownership. Ultimately, we know we’re in charge of our own fate and will work extra hard because our career dreams are a real possibility. As an example of a more traditional internal mobility career path, my role at WilsonHCG started as a sourcing assistant (intern). From there, I moved into a sourcing specialist role in delivery, then to an internal sourcing specialist role, and I’m currently a sales support strategist. For my IDP, I’m given specific goals and trainings to be involved in that focus around my core responsibilities and professional growth.
...And Run With It
I’m also given the trust of my managers; they are confident that I can continue to exceed performance expectations in my current role while providing value to other aspects of the organization as I pave my way to the next opportunity. Over the course of my WilsonHCG career, I have taken the lead on recruiting for the internship programs we offer, participated in numerous committees and task forces, mentored several interns and colleagues and participated in the brand ambassador program. This shows just a few areas in which I’ve been given the opportunity to stretch outside of my normal job function. Of course, it meant a lot of hard work most days, but it is rewarding to know that these specific projects have a defined purpose. All of these experiences prepared me for my current role, where I play a large part in new business development.
If you want your organization to have clout with job seekers and to be a place where employees grow (and help your company flourish), a program where people can move within your company is a must-have. Growth and variety are essential factors for job seekers and, most often, they will sacrifice on other factors such as compensation and benefits in order to have the mobility to expand their knowledge in areas of interest. Employees like to know that their work is going toward something they’re passionate about and that their employer is invested in their growth. Even if it’s a mundane job task, knowing that they can take additional steps to work toward their end goal is engaging. The IDP will help keep the employee anchored, instead of jumping ship at the first flashy offer they receive.
What other recruiting solutions or programs are you using to reduce employee attrition? We invite you to share your thoughts on how to reduce employee turnover rates in the comments section below.