Have you ever looked for talent with particular expertise and skillsets, but the search turns to no avail? Finding the one who owns the exact proficiencies you need is difficult. But have you ever considered that maybe, the answer is already there all the time under your nose? Yes, talent mobility.
When companies need new hires to fill particular positions, opening external job offer is not the only way to get the talents. Talent mobility, the process of moving and sourcing talent from one division or position to another within the organisation, is cost-effective and time-saving method of talent management strategy. Talent mobility is imperative for company growth, while retaining company’s top-players.
Rapid development of the global economy has led to significant increase in companies looking at moving and sourcing talent around the world. Today the proliferation of multinational companies and emerging markets have created significant changes in mobility patterns.
PwC survey finds that from 1998 to 2020, there will be 50 percent growth in companies who are hosting mobile employees in more countries than ever before. If during the period of 1970-1990 talent mobility was dominated by the U.S and Europe, 1990 to 2010 saw the trend shifting from West to East, with rich talent pools in China and India. In 2020, it’s projected that the distribution of talent mobility will be more complex and fluid, to involve most parts of the world.
Therefore, if you want business to thrive in the globalisation era, leaders should understand how to create and leverage talent mobility programs while aligning them with wider business growth strategy plans. At the same time, employees will have an opportunity to contribute to multiple aspects within the organisation. This will increase their engagement with the companies.
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However, the question remains: how to make talent mobility program work for your business? Here are four key tips to help drive an effective talent mobility program:
Define the concept
Before carrying out talent mobility program, it is important to set specific goals that you would like to address and derive benefits from the program. Whether this will be a part of employee retention strategy, to reduce massive turnover, or to boost employee engagement, leaders should ensure that the expected outcomes solve company’s current and future challenges.
After which, you need to identify the methods and data you need to achieve the business goals. Define the metrics or benchmarks that will be used to measure the program’s success, so you can follow through and control the process.
Talent mobility should involve all elements of the organization, therefore you have to socialise the concept by translating it into applicable policy, so everyone acknowledges the significance and meaning of talent mobility.
Create a culture
Solid company culture will not only help retain more talent, but also gain higher profits. With the right talent mobility strategy, companies can learn more about the employee’s potential and competence. Hence, leaders should manage how to make the most of this strength for the sake of company growth.
For talent mobility in global assignments, the difficulty of adapting with the host culture often becomes a major problem. As a way out, companies should be able to accommodate global talent by providing intercultural training.
Career advancement opportunities is one of the company culture that should be settled for successful talent mobility program. It plays the role of a driving force for employees to keep learning and moving forward, since this motivates and increases employee engagement.
Identify high potential employees
Unfortunately, not everyone has the talent and willingness to be a future leader. Therefore, when you find employees demonstrating high potential for growth, HR leaders should be able to accommodate their needs for development. If you think that a particular employee will grow more if moved to a different location, then please assist the employee with relocation.
Clearly state your intention and observe their feedback. Future leaders usually have visionary thoughts and strong will to advance further. Make sure to provide potential talent with the right type of mobility program to suit their basic necessities and future demands.
Arrange for adequate training to prepare them for new positions and responsibilities. Thus, employees can take optimum advantages from the global talent mobility program.
Develop the talents
A great leader is not born overnight. They should be moulded in time until they eventually have enough experience and knowledge. For the successful implementation of a talent mobility program, make sure that you equip employees with essential skills such that they can be effective in their new job role.
In the next few years, Millennials will hold the future of companies they work for. To ensure that they are ready to take on the leadership baton, you must understand how to manage the workforce mobility population by formulating strategic value.
Talent mobility is the key for every company to succeed in the ever-growing global economy. Mobility can best function when leaders can align them with strategy and business goals.
When employees want to grow in their career, do not wait until they hand out their resignation letter. Instead, it is time for HR leaders to conduct proactive screening of candidates with high potential and provide them with required tools to unravel the hidden gems at work.
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