The recruitment process requires a lot of time and resources, which is why improving retention is always an important mission for every company. One of the most common issues is talent hoarding — keeping your best employees in their current roles.
Companies need to be investing more in employee development to reduce turnover and keep their employees engaged and performing at their best. So how can employers center their focus on investing in their staff?
The infographic below — compiled by RolePoint, a talent acquisition software company focused on employee referrals, internal talent mobility, and creating seamless ATS connectivity — looks at why employers should care about the pitfalls of talent hoarding and how they can refocus on growth through a talent mobility program.
Let’s take a look at some of the highlights:
- 40% of organizations say they rarely or never provide career planning and development
- 45% of employees who changed companies in 2014 and 2015 said they left because they didn’t have advancement opportunities
- 55% of employees rate opportunities to use their skills and abilities at work as a “very important” contributor to their job satisfaction
- 93% of employees leave companies to change roles
- 90% of HR professionals say an employee recognition program improved engagement
Save time on replacing employees who leave for greener pastures by showing them how they fit in your company’s future. Talent hoarding is a vicious cycle that turns your top talent away, leaving you with more hiring and less help.
Check out the full infographic below to gain a better understanding of how employees react to feeling stuck and how employers can start a talent mobility program to help their best employees reach their fullest potential.
How are you turning from talent hoarding to talent mobility? Share in the comments below.