Hiring managers are often so preoccupied with identifying the best and brightest candidates that they overlook terrific talent hiding in plain sight: their current employees.
Let’s take a closer look at the state of internal recruiting, along with why every progress-minded organization should prioritize this woefully overlooked talent pool.
Employment Confidence is on the Rise
A whopping 35 percent of employees are ready to start job hunting if they don’t get a raise in the next year, and just under half of them are confident about finding a position that meets their expectations, according to a recent Employment Confidence Survey from Glassdoor.
With employment confidence climbing to new heights, the takeaway for retention-minded recruiters is clear: keep current employees happy and engaged in order to stop the bleed. Hiring from within is an effective, mutually beneficial way to execute.
The Benefits of Looking Inward
But hiring from within isn’t just beneficial in terms of increasing your retention rates. At a time when many employers are struggling to fill positions while facing a skills gap, it’s a mistake to assume that new talent must be external. In fact, current members of your workforce may not only bring exactly what you’re looking for to the table, but are far less costly in terms of hiring and training. Not only that, but current employees have already demonstrated their commitment, ability to contribute, and cultural fit — meaning they’re prepared to hit the ground running while simultaneously helping to reduce your turnover.
And while it’s easy to fall into the trap of thinking of internal recruiting as purely linear, there’s also immense potential in hiring across departments and disciplines. Why? Because in cases where skills transfer and/or can be learned, differences in background and perspective may yield innovative new solutions to ongoing challenges.
Does the future of your organization rest with your current employees? If you value them, it should. But as with external recruiting, the process of succession planning should begin long before a new role is created or a vacancy arises. Along the way, keep employees motivated and engaged by committing to communications and transparency, showcasing opportunities for company-wide advancement, and providing plenty of training.
And don’t forget that in the current, highly-competitive job market, the alternative to advancing employees is losing them. Conversely, the benefits that come with hiring from within offer a win-win scenario for employers and employees alike.
To know more about how Witty Parrot can help HR professionals and recruiters stay on message and consistently deliver a vibrant, compelling candidate and employee experience watch the video below.