Internal Mobility Can Improve Employee Engagement And Retention
The year 2021 witnessed The Great Resignation, wherein employees were seen to voluntarily resign from their jobs, for the reasons including wage stagnation, the rising costs of living, limited opportunities for career advancement, lack of benefits, hostile work environment, and job dissatisfaction. Looking at this trend, companies tried to address The Great Resignation issue through internal mobility, in which employees are moved within an organization, either vertically or laterally, for career transitions or development, offering them the opportunity to change roles. This way, employees are satisfied with their job as they can see growth, and organizations also benefit by filling up positions, without having to look anywhere else for candidates. With this, layoffs abounded, and recession fears increased, which led to The Great Resignation coming to a close by the end of 2022.
Over these two years, a 19-point rise in retention was observed for those who made an internal move within their own organizations. The year 2021 which saw 73% of employees planning to quit their jobs within six months of joining, later saw a significantly reduced 36% resignation by the end of the year 2022. 47% of candidates have confirmed that it is the potential recession that had made them less likely to quit their jobs. Internal mobility is thus a time-tested strategy for improving retention.
Why candidates would want to quit their job?
The reason behind candidates quitting has seen to be the fact that employees are no longer willing to subscribe to the hustle culture of the workplace and be available 100% of the time in order to be successful. Instead, they want a balanced work-life culture, and are ready to quit if that isn’t being possible because of their job. So, while The Great Resignation has come to a close, it doesn’t mean that employers have nothing to worry about. Rather, employers should understand the value of employee engagement and talent development, and enhance these cultures within their organization in order to retain their virtuous employees.
Employee engagement should be the top priority
HR leaders have seen to agree that employee engagement is a top priority, followed by talent acquisition being second on their list. With 41% correspondents aiming on employee engagement, and only 17% considering talent acquisition, the focus of talent acquisition shifts in two ways – first being
how to hire talent that will stay engaged, and second being how to continue to offer new opportunities to the talent already present. For this, you can always take assistance from the best recruitment companies in India, one like WalkWater Talent Advisors, who can help with a structured hiring process that can bring on candidates with no compromise on quality. Candidates will be evaluated on the criteria that matter most to the business. And for those who want to prevent resignations, and improve employee retention, such recruitment companies can help with a job listing system that can offer complete transparency, and thus trustworthiness. Your aim should now be to have a set of employees who will stay with your company because they are a good fit for their jobs and have development opportunities, and not because they’re afraid of recession. Companies that have strong processes in place for talent acquisition and internal mobility can handle any employee crisis, whether it is a full-fledged recession, or an entire wave of resignations!
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