How Companies Can Identify and Keep Top Internal Talent
Finding new, more effective ways to nurture and retain high achievers within the company is critical for contemporary HR decision-makers.
LinkedIn’s Global Recruiting Trends 2017 report reveals some fascinating insights into the state of global talent acquisition, shining a light on key challenges for organisations keen to close skill gaps and develop genuine internal mobility.
- 83% of HR and executive leaders identified talent as the company’s top priority.
- Employee referrals are the preferred form of recruitment, with 48% saying it’s the best way to find quality hires.
- Despite this, most company budgets still have traditional job boards/advertising as top recruitment budget spend (30%) with recruitment agency costs in second place (22%).
- Given unlimited budget, talent leaders would spend it on employer branding (53%), new recruitment technology (39%) and better sourcing tools (38%).
Automation is shown to be the big HR trend heading towards 2020, with recruiters determined to speed up the hiring process while making more precise assessment of skills, competencies and cultural fit.
Yet the LinkedIn survey shows the gap that still exists between aspirations – to automate recruitment, for example – and the current over-reliance on the job boards and traditional hiring agencies of old.
Importance of leveraging existing employees
Many organisations leak money by constantly looking outside for new hires.
They overlook the value of the employees they already have, many of whom may be itching to develop new skills, advance their career, innovate and make a valuable, ongoing contribution to the company.
Keep bringing in new people over their heads and you alienate your existing workforce, as well as blowing your hiring budget and pegging back productivity and performance.
Keep ignoring their digital skills, overlooking contemporary employees’ preference for 24/7 smartphone access, and you risk losing them to a more switched-on competitor.
So, your most valuable resource is under your nose. It’s just a question of learning how to tap into its true potential and develop the assets of your existing talent base.
The need for internal mobility
If you want to keep your best employees, you must give them a reason to stay.
Along with the obvious monetary rewards and benefits, workers are seeking:
- Positive, constructive feedback on their progress.
- Ongoing assessment which helps them improve their performance.
- Accessible, responsive training programs customised to their needs.
- Clear, defined career paths as incentives to propel them forward.
- Smart technology they can access whenever and wherever they want.
Provide these and you not only have happy, energised staff, but you are building a rich and vibrant employer brand everyone will want to work for.
Employee referrals are also a creative, cost-effective way to recruit tailor-made talent by involving your staff in recruitment via their social media networks.
Yet many organisations are held back by outdated recruiting systems and needless paper processing.
Which is why they dream of cloud-based recruitment software capable of delivering genuinely fulfilled employees, greater mobility, shrinking skill gaps, faster application-to-hire times and higher overall performance and productivity.
How technology can redefine the hiring process
If your staff don’t know that job opportunities exist elsewhere in your organisation, they won’t be able to apply.
The latest digital talent management platforms integrate:
- Internal referrals, job opportunities and mobile recruiting.
- Video interviewing and interview management.
- Screening, selection and onboarding.
- Performance appraisal, assessment, feedback and collaboration.
- Customised training programs.
- Workforce planning to identify skill gaps and future needs.
Unified recruiting systems help streamline both internal and external recruitment, while promoting internal mobility and connecting staff with new ways to learn, access job opportunities and advance within the organisation.