Yesterday, Part 1 of this article observed that job-hopping was a concern for organisations the world over.
But it was more common in Singapore because of the country’s strong economy, which provided a greater variety of choices and opportunities to the skilled workforce.
The article noted that there were several other factors beyond securing better pay or a higher-level job that motivated employees to move to another company, and employers should take these into account if they wanted to retain their high-performing employees.
Part 1 discussed two of these factors: societal change and talent hoarding.
Today’s article looks at the third factor that motivates employees to job-hop, and suggests how organisations can reduce staff attrition.
Don't overlook internal candidates
Organisations usually put a lot more effort and resources into recruiting new talent from external sources than they do into retaining existing talent, which leads to the external market being the go-to area for recruiters.
It is easier to recruit staff from outside the organisation, especially with the sourcing tools at a recruiter’s disposal, but this means overlooking existing staff who may be interested in new opportunities.
With internal candidates not getting the same care as external candidates, they in turn look to opportunities outside of their current employer.
Companies that encourage or mandate internal mobility programmes — and have the appropriate structures and processes to match — fare better than those that view internal mobility as a bolt-on to regular recruitment.
Switched-on talent teams will actively connect internal mobility with other parts of the organisation — management development programmes, contractor populations, referral schemes and candidate sourcing.
Effective internal mobility
In a vibrant talent market place, there are two best-practice approaches to internal mobility:
• Mobility that is self-driven and encouraged. Employers actively engage with internal candidates to ensure they are aware of opportunities within the organisation, and ensure that both the human resource (HR) and management community are fully supportive of movement within the organisation.
• Mobility that is managed by HR or senior management. This is really about developing employees with a specific purpose in mind, either recognising those who have high potential or grooming future leaders.
Employees are moved strategically through positions within the organisation to broaden their experience, provide them with skills for the future, expose them to multiple disciplines, build their networks, and prepare them for entry into high-level or leadership roles.
Other solutions to job-hopping
It should be noted that even a strong internal mobility programme is just one part of the solution to job-hopping.
Competitive salaries, leave entitlements, workplace flexibility, the opportunity for training and development, and even the company’s approach to reward and recognition outside of salary and bonuses, can have a dramatic effect on retention.
Global citizenship and corporate social responsibility now form part of the employer value proposition that companies can present to employees. And drawing it all together is employer brand.
Employer branding focuses on one of the most important facets of a corporate brand — the company, as perceived by the people who work for it.
Deliver the employer brand promise
Providing the structure by which people can take up new opportunities within their current employer is one thing. Ensuring that they want to stay is another.
Internal mobility works well in companies that have strong employer value propositions — think Google.
When companies invest the time, effort and resources to build a strong employer brand and a positive working environment it becomes far easier to present opportunities to an internal audience.
Remember, the day-to-day experience of working in a company is crucial, both in selling the company to external candidates looking for the next opportunity, and to the retention of existing staff who are delivering value.
Article by Martin Cerullo, managing director, Development, Asia Pacific, and global director, Resourcing Communications & Innovation, Alexander Mann Solutions.