Keeping talent moving is the key to obtaining and maintaining high engagement levels. Lateral movement can help address key skills gaps across an organization.
This article below highlights a study of 3,000 senior HR professionals by Alexander Mann Solutions, which found that 25 percent believe lateral hiring is a company’s best weapon for talent retention in the immediate future. The figure rose from one in four to 36 percent for investment banking, 50 percent in energy and 86 percent in healthcare.
To effectively leverage internal mobility, your managers must overcome any reluctance to let employees go from specific managers or departments and move on through the company to gain experience for themselves while supporting needs within the organization.
In the book, "Help Them Grow or Watch Them Go", chapter 6 is all about providing moves internally that help employees stretch. Forget about the ladder — think more about career paths and consider that "onward and upward" are being replaced with "forward and toward."
Getting talent moving Highlighting the benefits of redeploying employees and the role of global mobility in attracting, recruiting and retaining employees as part of the employer value proposition (EVP), Ms Forrest adds:“While there may be some reluctance to let employees go from specific managers or departments, redeploying individuals, either to different regions or business areas, is one way to really gain an advantage over the competition.“The opportunity to move laterally within an organisation is now recognised as a key element in attracting, engaging and retaining talent. According to PwC, this is particularly true of the millennial generation with 71 per cent revealing that they want – and expect – the opportunity to work internationally in their careers.”