Will your employee's next job be with your company?

A recent survey indicates 44% of employees are "job seekers" looking to leave their current employer

(Willis Towers Watson’s 2022 Global Benefits Attitudes Survey).

That’s bad news for their HR and recruiting teams.

5 do's and don'ts to promote internal career pathing and retain talent.

Employees are leaving their current employer in record numbers as the great resignation shows no signs of slowing down. Wages, medical benefits, time off, and other employee benefits packages all play a big part in resignation statistics, however, internal communications & internal recruiting of these positions have also been well documented culprits contributing to employee turnover. Here are 5 do's and don'ts to improve your internal recruiting and career pathing efforts.

DO promote your internal job openings to current employees in an easy-to-access online catalog

Employees are inundated with resources to shop for their next career move on 100’s of external job boards, recruiter outreach, career fair events, and personal networks. Your internal postings should be as strong if not a stronger resource to position opportunities often to meet your employee interests and career pathing needs.

DON'T rely on managers to advertise opportunities to employees

Unless you have a solid process for recognizing and rewarding managers for internal mobility successes… let’s admit it, even the most well intentioned managers recognize the pain that comes with their best employees leaving their team for a new role. Managers may be reluctant to share open roles if it means losing a key team member.

DO incorporate employee referral programs into internal mobility conversations & job posting tools

If an employee is shopping for their next role, they’re likely to spot other roles that are a good fit for friends in their network. Implementing this practice will help you recruit new talent while incentivizing employees to refer friends all while advancing their career with your company. Let's face it- who doesn't like to work with friends?

Do promote pay increases with specificity and transparency

Traditionally internal job transfers were known to be light on pay and heavy on title improvements. Today, employees have never had better access to pay trends and rates related to their roles. If you pay under market rates it’s ok, but don’t miss the opportunity for transparency and purposeful strategies to highlight why your org is a great place to work despite paying under market. 20% of candidates surveyed said they would leave for the same pay- implying other factors are at play outside of pay. However, over half (56%) of workers said they would leave for a just a 5% pay increase. Don't miss your opportunity to demonstrate the full value your company brings to the your employee.

DON'T make the career path requirements a mystery.

Your job descriptions should clearly define essential and nice-to-have skills employees can work towards to achieve career advancement. Laying out what skills are required to advance from role to role will provide motivated staff a simple roadmap they can follow to achieve their goals at your organization.

Retention can be increased simply by enhancing the internal mobility and recruiting experience.

For years the internal mobility process has been clouded with uncertainty leaving employees looking elsewhere for career advancement opportunities. By providing a clear path of advancement and what is required to get their employers can increase retention by providing employees an alternative to leaving to get what they want.

It all starts with setting clear expectations through accurate job descriptions and career path maps.

Resource: https://www.wtwco.com/en-US/Insights/2022/06/2022-global-benefits-attitude-survey