SlideShare a Scribd company logo
Stop Hoarding Your Talents! Here's Why You Need
an Internal Mobility Program
We associate hoarding with clutter and messy apartments but it doesn’t just apply to
household objects. Talent hoarding in workplaces occurs when managers have trouble
sharing their team’s skills and time. This practice can hurt someone’s career and damage an
entire organisation. Our article dives a little deeper into talent hoarding and how your leaders
shift from talent hoarding to talent sharing in 4 ways.
For years, internal mobility has been hindered by external recruitment. Many skill and
capability needs were grouped into open roles which would be filled by new candidates.
When opportunities arose for employees to take on cross-functional projects, managers
were hesitant to loan them to other teams.
As the war for talent escalates, leaders are turning their attention toward skills visibility and
talent agility. Internal mobility isn’t just another powerful hiring tool. It is also a reliable tool to
improve engagement and retention. Research has shown that more than 70% of employees
want to pursue advancement opportunities within their organisations.
However, one threat can sabotage even the best internal mobility strategies — talent
hoarding. Talent hoarding is a widespread issue in the workplace. 50% of employers report
that their managers are guilty of hoarding their talent. Our article dives deeper into the topic
and how to shift to a talent-sharing mindset with internal mobility.
What is Talent Hoarding?
According to Professor Daniel Kahneman, talent hoarding is referred to as “loss aversion”.
He explains it as our aversion to losing something rather than being attracted to acquiring it.
Talent hoarding occurs when managers keep talents on their team for longer than is good for
the company or the employee. There are even instances where managers attempt to offload
poor performers onto other teams.
It is a real problem and it occurs more than it should. This practice can hurt an employee’s
career and reflect poorly on the company’s culture. It can lead to increased turnover and
may even harm the employer’s brand.
The Dangers of Talent Hoarding
While every company wants good talent in their teams, it can be hard to let them go.
However lucrative it may sound in the short term, experts believe it is inefficient in the long
term. When left unchecked, talent hoarding can snowball into the following risks:
A surge in turnovers
A lack of internal mobility is the second most common reason for employees to look for jobs
elsewhere. When managers hold their employees back, they are more likely to look for new
opportunities outside of the organisation.
Decreased productivity and capacity
When talent hoarding is prevalent in your organisation, your employees cannot be used to
their full potential. This prevents your business from achieving its full potential — and possibly
won’t be able to stand the competition.
Increase in silos
Silos hinder innovation, halt productivity, and leave managers incapable of executing
strategic priorities. When employees are unable to see beyond the opportunities, projects,
and skill needs within their teams, silos and communication breakdowns arise.
Sluggish career development
Skill-building efforts become stagnant, causing employees to find it difficult to participate in
projects, gigs, and other experiences. These opportunities are crucial in an employee’s
learning curve. Without them, they are unable to develop new skills at a competitive speed.
Employees who want to advance are often the ones who contribute the most to
organisational growth. However, when employers fail to help their employees learn and
develop, they stagnate and their professional careers suffer. RolePoint, a talent acquisition
software company, looked at why employers should care about the pitfalls of talent hoarding.
Here’s what they discovered:
● 50% of managers admitted to talent hoarding, or keeping the top talent in their
current roles
● 85% of organisations say they failed to demonstrate the key behaviours in effective
talent mobility
● 45% of employees who changed companies in 2014 and 2015 said they left due to
the lack of advancement opportunities
● 55% of employees rated the opportunities to use their skills and abilities at work as
“very important” to their job satisfaction
● 90% of HR professionals said an employee recognition program improved
engagement
Employers who invest in their employees instead of holding them back allows the company
to grow. At the same time, retention improves and employees are happier, more engaged,
and more productive. So, how can companies solve this problem? The answer lies in
building an internal talent mobility program.
Internal Mobility Best Practices
According to Gallup:
Leaders who hold onto high performers instead of encouraging them to expand their careers
end up losing them anyway.
Replacing an employee is twice or more expensive, including lost knowledge, contacts, and
morale than that of a person’s salary.
An effective internal mobility program is critical in countering this. Companies promoting
internal mobility have a higher chance of identifying talents who can be moved from role to
role.
Employers who invest in their employees instead of holding them back allows the company
to grow. At the same time, retention improves and employees are happier, more engaged,
and more productive. So, how can companies solve this problem? The answer lies in
building an internal talent mobility program.
Internal Mobility Best Practices
According to Gallup:
Leaders who hold onto high performers instead of encouraging them to expand their careers
end up losing them anyway.
Replacing an employee is twice or more expensive, including lost knowledge, contacts, and
morale than that of a person’s salary.
An effective internal mobility program is critical in countering this. Companies promoting
internal mobility have a higher chance of identifying talents who can be moved from role to
role.
Employers who invest in their employees instead of holding them back allows the company
to grow. At the same time, retention improves and employees are happier, more engaged,
and more productive. So, how can companies solve this problem? The answer lies in
building an internal talent mobility program.
Internal Mobility Best Practices
According to Gallup:
Leaders who hold onto high performers instead of encouraging them to expand their careers
end up losing them anyway.
Replacing an employee is twice or more expensive, including lost knowledge, contacts, and
morale than that of a person’s salary.
An effective internal mobility program is critical in countering this. Companies promoting
internal mobility have a higher chance of identifying talents who can be moved from role to
role.
Prior to building a scalable process, technology needs to be involved in the strategy. Without
great tools, companies won’t be able to set baselines or measure success based on the
benchmarks to achieve. A company’s internal mobility program should encompass the
following best practices:
C-Suite Buy-In
Securing buy-in from the management team paves the way for internal mobility to encourage
positive growth within the company. Employees should also understand the importance of
talent mobility in their career paths.
Current Employee Skills Map
Data on employees and their current skills are often siloed. This is why technology is
important. It helps to map out these skills and keep track of their progress so managers can
access the talent-ready pipeline.
Unified Internal and External Pipeline
When it comes to recruiting and retaining talent, unifying internal and external resources can
help to boost internal mobility. It also means that all candidates are considered for all jobs,
even if they’re currently staff in that company.
Align Incentives and Behaviours
Managers with talents in their team would not give the person up as they don’t know who the
replacement is. Aligning the incentives and behaviour can allow employees to be recognised
while simultaneously exploring their talents, abilities, and interests.
Build a Culture of Internal Mobility
A culture that supports internal mobility has several benefits for the company that practises
it.
1. It creates an environment for continuous learning and development as core to the
health and success of a company.
2. It champions employee engagement and talent retention.
3. It encourages employees to stay with companies that invest in their careers.
Create an Internal Talent Marketplace
Companies can look at their current and future needs, along with any obvious skill gaps
before creating an internal system. This is where opportunities for mobility, new roles, or new
projects can be shared with their teams. This becomes an internal job board where
employees can enjoy and appreciate every opportunity that comes along.
How to Build an Effective Internal Talent Mobility Program
Creating a successful internal talent mobility program can seem daunting but it doesn’t have
to be. Not sure where to start? We have prepared a few simple steps you can take to make
the process easier.
Step 1: Align business needs to talent supply
The benefits of internal mobility are critical in any talent acquisition strategy. It improves the
employer brand, retains top talent, and helps the company be more strategic about
recruitment. Build a business case by aligning the needs to recruitment metrics and
business/skill demands.
Learn More: Stop Hoarding Your Talents! Here’s Why You Need an Internal Mobility Program

More Related Content

Featured

2024 State of Marketing Report – by Hubspot
2024 State of Marketing Report – by Hubspot2024 State of Marketing Report – by Hubspot
2024 State of Marketing Report – by Hubspot
Marius Sescu
 
Everything You Need To Know About ChatGPT
Everything You Need To Know About ChatGPTEverything You Need To Know About ChatGPT
Everything You Need To Know About ChatGPT
Expeed Software
 
Product Design Trends in 2024 | Teenage Engineerings
Product Design Trends in 2024 | Teenage EngineeringsProduct Design Trends in 2024 | Teenage Engineerings
Product Design Trends in 2024 | Teenage Engineerings
Pixeldarts
 
How Race, Age and Gender Shape Attitudes Towards Mental Health
How Race, Age and Gender Shape Attitudes Towards Mental HealthHow Race, Age and Gender Shape Attitudes Towards Mental Health
How Race, Age and Gender Shape Attitudes Towards Mental Health
ThinkNow
 
AI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdfAI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdf
marketingartwork
 
Skeleton Culture Code
Skeleton Culture CodeSkeleton Culture Code
Skeleton Culture Code
Skeleton Technologies
 
PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024
Neil Kimberley
 
Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)
contently
 
How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024
Albert Qian
 
Social Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie InsightsSocial Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie Insights
Kurio // The Social Media Age(ncy)
 
Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024
Search Engine Journal
 
5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary
SpeakerHub
 
ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd
Clark Boyd
 
Getting into the tech field. what next
Getting into the tech field. what next Getting into the tech field. what next
Getting into the tech field. what next
Tessa Mero
 
Google's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search IntentGoogle's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search Intent
Lily Ray
 
How to have difficult conversations
How to have difficult conversations How to have difficult conversations
How to have difficult conversations
Rajiv Jayarajah, MAppComm, ACC
 
Introduction to Data Science
Introduction to Data ScienceIntroduction to Data Science
Introduction to Data Science
Christy Abraham Joy
 
Time Management & Productivity - Best Practices
Time Management & Productivity -  Best PracticesTime Management & Productivity -  Best Practices
Time Management & Productivity - Best Practices
Vit Horky
 
The six step guide to practical project management
The six step guide to practical project managementThe six step guide to practical project management
The six step guide to practical project management
MindGenius
 
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
RachelPearson36
 

Featured (20)

2024 State of Marketing Report – by Hubspot
2024 State of Marketing Report – by Hubspot2024 State of Marketing Report – by Hubspot
2024 State of Marketing Report – by Hubspot
 
Everything You Need To Know About ChatGPT
Everything You Need To Know About ChatGPTEverything You Need To Know About ChatGPT
Everything You Need To Know About ChatGPT
 
Product Design Trends in 2024 | Teenage Engineerings
Product Design Trends in 2024 | Teenage EngineeringsProduct Design Trends in 2024 | Teenage Engineerings
Product Design Trends in 2024 | Teenage Engineerings
 
How Race, Age and Gender Shape Attitudes Towards Mental Health
How Race, Age and Gender Shape Attitudes Towards Mental HealthHow Race, Age and Gender Shape Attitudes Towards Mental Health
How Race, Age and Gender Shape Attitudes Towards Mental Health
 
AI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdfAI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdf
 
Skeleton Culture Code
Skeleton Culture CodeSkeleton Culture Code
Skeleton Culture Code
 
PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024
 
Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)
 
How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024
 
Social Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie InsightsSocial Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie Insights
 
Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024
 
5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary
 
ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd
 
Getting into the tech field. what next
Getting into the tech field. what next Getting into the tech field. what next
Getting into the tech field. what next
 
Google's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search IntentGoogle's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search Intent
 
How to have difficult conversations
How to have difficult conversations How to have difficult conversations
How to have difficult conversations
 
Introduction to Data Science
Introduction to Data ScienceIntroduction to Data Science
Introduction to Data Science
 
Time Management & Productivity - Best Practices
Time Management & Productivity -  Best PracticesTime Management & Productivity -  Best Practices
Time Management & Productivity - Best Practices
 
The six step guide to practical project management
The six step guide to practical project managementThe six step guide to practical project management
The six step guide to practical project management
 
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
 

Stop Hoarding Your Talents! Here's Why You Need an Internal Mobility Program.pdf

  • 1. Stop Hoarding Your Talents! Here's Why You Need an Internal Mobility Program We associate hoarding with clutter and messy apartments but it doesn’t just apply to household objects. Talent hoarding in workplaces occurs when managers have trouble sharing their team’s skills and time. This practice can hurt someone’s career and damage an entire organisation. Our article dives a little deeper into talent hoarding and how your leaders shift from talent hoarding to talent sharing in 4 ways. For years, internal mobility has been hindered by external recruitment. Many skill and capability needs were grouped into open roles which would be filled by new candidates. When opportunities arose for employees to take on cross-functional projects, managers were hesitant to loan them to other teams. As the war for talent escalates, leaders are turning their attention toward skills visibility and talent agility. Internal mobility isn’t just another powerful hiring tool. It is also a reliable tool to improve engagement and retention. Research has shown that more than 70% of employees want to pursue advancement opportunities within their organisations. However, one threat can sabotage even the best internal mobility strategies — talent hoarding. Talent hoarding is a widespread issue in the workplace. 50% of employers report that their managers are guilty of hoarding their talent. Our article dives deeper into the topic and how to shift to a talent-sharing mindset with internal mobility. What is Talent Hoarding?
  • 2. According to Professor Daniel Kahneman, talent hoarding is referred to as “loss aversion”. He explains it as our aversion to losing something rather than being attracted to acquiring it. Talent hoarding occurs when managers keep talents on their team for longer than is good for the company or the employee. There are even instances where managers attempt to offload poor performers onto other teams. It is a real problem and it occurs more than it should. This practice can hurt an employee’s career and reflect poorly on the company’s culture. It can lead to increased turnover and may even harm the employer’s brand. The Dangers of Talent Hoarding While every company wants good talent in their teams, it can be hard to let them go. However lucrative it may sound in the short term, experts believe it is inefficient in the long term. When left unchecked, talent hoarding can snowball into the following risks: A surge in turnovers A lack of internal mobility is the second most common reason for employees to look for jobs elsewhere. When managers hold their employees back, they are more likely to look for new opportunities outside of the organisation. Decreased productivity and capacity When talent hoarding is prevalent in your organisation, your employees cannot be used to their full potential. This prevents your business from achieving its full potential — and possibly won’t be able to stand the competition. Increase in silos Silos hinder innovation, halt productivity, and leave managers incapable of executing strategic priorities. When employees are unable to see beyond the opportunities, projects, and skill needs within their teams, silos and communication breakdowns arise. Sluggish career development Skill-building efforts become stagnant, causing employees to find it difficult to participate in projects, gigs, and other experiences. These opportunities are crucial in an employee’s learning curve. Without them, they are unable to develop new skills at a competitive speed. Employees who want to advance are often the ones who contribute the most to organisational growth. However, when employers fail to help their employees learn and develop, they stagnate and their professional careers suffer. RolePoint, a talent acquisition software company, looked at why employers should care about the pitfalls of talent hoarding. Here’s what they discovered:
  • 3. ● 50% of managers admitted to talent hoarding, or keeping the top talent in their current roles ● 85% of organisations say they failed to demonstrate the key behaviours in effective talent mobility ● 45% of employees who changed companies in 2014 and 2015 said they left due to the lack of advancement opportunities ● 55% of employees rated the opportunities to use their skills and abilities at work as “very important” to their job satisfaction ● 90% of HR professionals said an employee recognition program improved engagement Employers who invest in their employees instead of holding them back allows the company to grow. At the same time, retention improves and employees are happier, more engaged, and more productive. So, how can companies solve this problem? The answer lies in building an internal talent mobility program. Internal Mobility Best Practices According to Gallup: Leaders who hold onto high performers instead of encouraging them to expand their careers end up losing them anyway. Replacing an employee is twice or more expensive, including lost knowledge, contacts, and morale than that of a person’s salary.
  • 4. An effective internal mobility program is critical in countering this. Companies promoting internal mobility have a higher chance of identifying talents who can be moved from role to role. Employers who invest in their employees instead of holding them back allows the company to grow. At the same time, retention improves and employees are happier, more engaged, and more productive. So, how can companies solve this problem? The answer lies in building an internal talent mobility program. Internal Mobility Best Practices According to Gallup: Leaders who hold onto high performers instead of encouraging them to expand their careers end up losing them anyway. Replacing an employee is twice or more expensive, including lost knowledge, contacts, and morale than that of a person’s salary. An effective internal mobility program is critical in countering this. Companies promoting internal mobility have a higher chance of identifying talents who can be moved from role to role. Employers who invest in their employees instead of holding them back allows the company to grow. At the same time, retention improves and employees are happier, more engaged, and more productive. So, how can companies solve this problem? The answer lies in building an internal talent mobility program. Internal Mobility Best Practices According to Gallup: Leaders who hold onto high performers instead of encouraging them to expand their careers end up losing them anyway. Replacing an employee is twice or more expensive, including lost knowledge, contacts, and morale than that of a person’s salary. An effective internal mobility program is critical in countering this. Companies promoting internal mobility have a higher chance of identifying talents who can be moved from role to role.
  • 5. Prior to building a scalable process, technology needs to be involved in the strategy. Without great tools, companies won’t be able to set baselines or measure success based on the benchmarks to achieve. A company’s internal mobility program should encompass the following best practices: C-Suite Buy-In Securing buy-in from the management team paves the way for internal mobility to encourage positive growth within the company. Employees should also understand the importance of talent mobility in their career paths. Current Employee Skills Map Data on employees and their current skills are often siloed. This is why technology is important. It helps to map out these skills and keep track of their progress so managers can access the talent-ready pipeline. Unified Internal and External Pipeline When it comes to recruiting and retaining talent, unifying internal and external resources can help to boost internal mobility. It also means that all candidates are considered for all jobs, even if they’re currently staff in that company. Align Incentives and Behaviours
  • 6. Managers with talents in their team would not give the person up as they don’t know who the replacement is. Aligning the incentives and behaviour can allow employees to be recognised while simultaneously exploring their talents, abilities, and interests. Build a Culture of Internal Mobility A culture that supports internal mobility has several benefits for the company that practises it. 1. It creates an environment for continuous learning and development as core to the health and success of a company. 2. It champions employee engagement and talent retention. 3. It encourages employees to stay with companies that invest in their careers. Create an Internal Talent Marketplace Companies can look at their current and future needs, along with any obvious skill gaps before creating an internal system. This is where opportunities for mobility, new roles, or new projects can be shared with their teams. This becomes an internal job board where employees can enjoy and appreciate every opportunity that comes along. How to Build an Effective Internal Talent Mobility Program Creating a successful internal talent mobility program can seem daunting but it doesn’t have to be. Not sure where to start? We have prepared a few simple steps you can take to make the process easier.
  • 7. Step 1: Align business needs to talent supply The benefits of internal mobility are critical in any talent acquisition strategy. It improves the employer brand, retains top talent, and helps the company be more strategic about
  • 8. recruitment. Build a business case by aligning the needs to recruitment metrics and business/skill demands. Learn More: Stop Hoarding Your Talents! Here’s Why You Need an Internal Mobility Program