The 2023 Talent Mobility Study found that employees would like to explore more internal opportunities for their careers. The study conducted by Cornerstone OnDemand surveyed over 1,500 HR and talent management professionals across EMEA and the UK to understand their perspectives and practices related to talent mobility.
In today’s rapidly evolving job market, organizations are facing unprecedented challenges in attracting, retaining, and developing talent. To succeed in this dynamic landscape, companies need to adopt innovative approaches to talent management, and one such approach that is gaining traction is talent mobility.
Findings of the Study
The 2023 Talent Mobility Study by Cornerstone OnDemand surveyed over 1,500 HR and talent management professionals across EMEA and the UK to understand their perspectives and practices related to talent mobility. The study revealed several key findings that highlight the growing importance of talent mobility as a critical aspect of talent management strategies.
Firstly, the study found that talent mobility is gaining momentum in the EMEA and UK regions, with 89% of respondents considering it important or very important for their organizations. This indicates that organizations recognize the value of talent mobility to bridge skill gaps, improve employee engagement, and retain top talent.
Moreover, 63% of respondents reported that they had a formal talent mobility program in place, indicating a growing trend towards structured talent mobility initiatives.
The study also identified the most common drivers of talent mobility in the EMEA and UK regions. The need to fill skill gaps was cited as the primary driver, with 73% of respondents indicating that it was a significant factor. This suggests that organizations are increasingly leveraging talent mobility to address skills shortages and ensure their workforce is equipped with the necessary skills to drive business success.
Other drivers of talent mobility identified in the study included career development opportunities (65%), succession planning (61%), and diversity and inclusion initiatives (50%).
Interestingly, the study found that organizations in the EMEA and UK regions are adopting a proactive approach to talent mobility, with 62% of respondents indicating that they actively identify and prepare employees for future mobility opportunities. This suggests that organizations are investing in talent development programs to nurture a pipeline of candidates who are ready to take on new roles and responsibilities, thereby ensuring a smooth transition when mobility opportunities arise.
However, the study also revealed that challenges remain in effectively implementing talent mobility programs, with 57% of respondents citing a lack of visibility into available opportunities as a significant barrier. This highlights the need for organizations to invest in technology and tools that facilitate better visibility and accessibility to internal mobility opportunities.
Internal Opportunities and Hiring
Internal hiring refers to the practice of filling job vacancies within an organization by promoting or transferring existing employees rather than hiring externally. The benefits of internal hiring include cost savings, reduced recruitment time, improved employee morale, and retention of institutional knowledge.
Workable has highlighted key considerations for implementing an effective internal hiring process, such as creating clear guidelines, promoting transparency, and providing equal opportunities to all employees. When conducting internal hiring, effective communication, feedback, and talent development programs must be implemented to support these initiatives.