Laura Coccaro is the chief people officer at iCIMS, where she leads all people functions, from talent acquisition to employee engagement. The past few years have been tumultuous, but with attrition levels now decreasing to pre-Great Resignation levels, it's crucial for talent leaders to focus on building a strong future.
As HR leaders gear up for 2024 planning and execution, they must proactively cultivate talent pools for future market movements. This involves engaging, retaining, and developing existing talent to ensure organizational success.
Despite the current nuanced market conditions, with 51% of professionals considering a job change in 2024, there is a shift towards internal hiring. In 2023, external hires dropped significantly, while internal hires remained more stable, indicating a trend of employers looking within for quality talent.
Investing in internal mobility offers numerous benefits, including reduced attrition, a stronger organizational culture, and retention of institutional knowledge. Employees who move internally have a higher likelihood of staying with the organization long-term, leading to increased ROI and employee satisfaction.
Implementing internal mobility effectively requires clear communication with leadership, collaboration with other departments, and regular evaluation of strategies based on market trends. By identifying internal talent aligned with organizational goals and providing growth opportunities, HR leaders can drive strategic workforce development.
As organizations aim to strengthen employee experience and culture in 2024, internal mobility emerges as a key strategy for enhancing engagement, retention, and growth. By adopting a proactive approach and focusing on change management and transparent communication, HR leaders can position their organizations for long-term success.
Internal mobility is a critical tool for developing and enhancing the workforce, offering benefits that extend well into the future.
