Career Development could be considered an HR Manager’s best friend, a tool so useful that it easily solves many of the complex issues that HR departments face: lower turnover, improve morale, and increase employee engagement. Why not encourage your employees even further by allowing your employees to grow internally within your network? Sounds simple right?
Providing opportunities for internal mobility within your organization prevent high turnover of employees and improves retention. Employee turnover is the real enemy: with overall company net income decreasing by as much as 12%.To be quite honest, the process of hiring is costly in both time and money. During this period, the morale of employees can also lower, making the whole HR situation enduring.
External hires cost 20% more than internal hires, essentially making internal mobility one of the most cost-effective options for companies. But how does one encourage its employees to stay, change departments, or even ascend in a corporate ladder? Promoting internal mobility within your workforce is four-fold:
- Build up your employee’s morale and knowledge of different fields by encouraging coworkers to mentor one another. Employee growth can be obtained by one on one coaching including sessions where career goals and objectives are made and discussed. This encourages your workforce to be more focused and driven, and ultimately reduces employee turnover.
- Expose your employees to stretch projects with cross-departmental content. This will further encourage learning and engagement, create new skill-sets, and diversify your employee’s network.
- Encourage job shadowing! This not only allows employees to further learn from each other, but it allows them to envision themselves in another position within the company. In these cases, it is highly important to embrace these happenings as it creates more engagement, boosts morale, reinforces passion to work and trust in one’s employer. An added bonus, a more diversified workforce.
- Create an environment and work culture that promotes mobility. Corporate silos and pressures are no fun for anyone. By creating a network of employees with a flexible and engaging culture, this encourages employees to interact with one another, to learn, to grow, and to develop their career.
While internal mobility may seem to be the pot of gold at the end of the rainbow, it is important to note that it is the environment, culture, and the encouragement that you create in your workplace for your employees that allows you to increase internal mobility within your organization. It is the time and attention to detail to the engagement of one’s employees that makes all of these components all the more easier to attain.