In the competitive scenario, companies today share a major concern of attrition.
In a recent study by Gallup, it was found that about 51% of employees of all organizations look for a job change. Furthermore, it has been found that the prominent reason for job change is because individuals seek to expand their knowledge and use their strengths effectively.
While challenges to attrition are many, retaining top talent is significant. To retain, companies should aim to provide a move up in the corporate ladder. However, rather than upward mobility individuals seek for internal mobility. This new take on performance management plays an important role in talent acquisition and employee retention, thus overall organizational success.
Let us now discuss on a few measures that can help your organization in successful internal mobility program adoption:
Clearly articulate your employees regarding the objective of internal mobility and make a company policy regarding it.
After identifying your goals such as improving employee engagement and reducing high employee turnover, track back about what data would you require and what analyse and metrics should be framed.
Invest in coaching, mentoring, learning and career transition.
Lateral or internal mobility requires the employees to gain new skills and training so that they can fulfil new responsibility. Make provisions for employee training.
Work with employees to create personalized career path which meets the needs of both organizations and employees.