Answer this honestly.
In your organization, is it easier for hiring managers to fill open positions from the outside or hire within? Conversely, if an employee wants to explore a new role, is it quicker for them to find a new job externally or to try and move internally?
For most of you, I know the answer. And for the leaders of renovated cultures who want to ensure they don’t inadvertently revert to the way things used to be, it’s important to eliminate the obstacles which incent top talent to leave, and promote those who embrace the new.
It’s easy to see why those obstacles exist. Outside opportunities don’t come with the bureaucracy or rules of engagement that require managers to sign off in order for an employee to interview or explore other opportunities internally. There is no stigma attached to looking at roles externally that many employees carry when it’s revealed they are doing so internally (I’m a “dead man walking” is a phrase I’ve heard from several friends when it was discovered they applied for another role internally). And, the employee isn’t locked into a salary band externally that often still applies internally. They can free themselves of any labels that have been applied to their role, rank, compensation, etc. that often hinder internal movement.
To combat this, many companies are using a talent marketplace model that allows them to locate talent from a variety of sources, and helps to match the best skills to the most important opportunities. In our research, we found that high-performance organizations are three and a half times more likely to establish a talent marketplace to share, rent, and borrow talent. That marketplace typically centers on the capabilities of the individual versus the internal labels of employment status, current role, job level, compensation band, or whatever reputation the employee’s current team, group, or department might have.
For a sustained, healthy culture, this is an important concept. It allows the organization to promote and move people who have the right skillset, and those who most represent the behaviors the new culture requires. i4cp members can read more about this and find multiple case studies, tools, and other useful information.