The battle for talent. The great resignation. The skills gap. Whatever you call it, more and more organisations are finding it tough to fill roles.
The fight for eligible candidates is fierce and it can leave organisations feeling like they are constantly losing out on skills needed to meet their goals. It’s not just employers who can benefit from focusing on and developing internal talent, ambitious workers can also reap the rewards of seeking out learning and development opportunities when choosing internal roles.
In this blog, we explore some of the key talking points from a recent McKinsey Talks Talentpodcast - including tips for candidates and employers when thinking of internal hiring.
Bridge talent gaps internally
During the discussion, Emily Field talked about the importance of creating an internal digital marketplace:
“A digital talent marketplace reveals who within your organisation wants new opportunities—it’s about identifying talent, their skills, and their openness to take on new roles.”
Traditionally, the capabilities of internal job networks have been limited. Roles are not widely advertised and only those candidates who are actively seeking a particular role in a particular area will move upwards. Digital marketplaces open everything up – enabling candidates to show off their skills and capabilities and be matched with relevant roles. A successful internal marketplace opens up a huge pool of talent to hiring managers, while creating visibility across the organisation.
Look for skills and attributes, not accolades
Some job listings can be overly restrictive and can exclude potentially strong candidates due to arbitrary criteria. On the podcast, Bill Schaninger says:
“The question becomes, where can we change—but not lower—the bar to open up the funnel, so people can become aware that their qualifications are close to those required for open roles?”
When creating an internal labour pool, organisations should carefully consider which skills are really necessary to the success of a role. They should also consider transferable skills and whether they should be thinking about people who have some of the skills required and could shine with supplemental training.
The benefits of an internal career move for employees
The benefits of sticking with a current employer can be huge for employees. Emily summed it up neatly in the podcast:
“From the individual’s perspective, the benefit is massive. Employees are able to stay at the organisation they’ve chosen to be at. They’re able to transition to a role that they’re a match for already, or perhaps that requires them to learn a couple of skills.”
If you love where you work and the people you work with, but you’re also ambitious and driven - it can feel like you have no option but to look outside your current company. This isn’t always the case. Always take the time to examine internal career and learning opportunities, it might be the best way to accelerate your jobs search.
Here are some quick tips for candidates and employers that are thinking about internal roles:
Tips for candidates
· Make connections across departments and business areas.
· Actively search for learning and development opportunities.
· Identify your passion and look for opportunities to develop this internally – even if that means thinking outside of your current specialism.
· Make your desire to stay and grow with the company known.
Tips for employers
· Consider people with transferable skills across every area of your business.
· Reconsider the skills and barriers attached to every role.
· Give current employees the space to say they are open to new challenges.
· Consider how technology can enhance your internal talent pool.
Internal talent pools are often overlooked. Make sure your organisation isn’t making this mistake. By developing robust internal talent pools and internal talent marketplaces, everybody wins. If your organisation is struggling to attract and retain top talent, not to worry! Click here to get in touch with our team and discover what we do to play our part in recruiting for a better world.