Recruitment is a costly exercise for any business and so why don't organisations focus on developing and providing an exciting playground for the employees they already have?
Our Executive Search team have been involved in quite a few assignments down the years that have ended with an internal appointment which is fantastic but why didn't our client start there? In my view, there isn't enough performance data on employees including psychometric evaluations for managers in their business to use in succession planning. Filling roles is still too transactional and this article provides some great solutions.
While the days of retiring from one company after a 40-year career may be long gone, many believe that the pendulum seems to have swung far into the opposite direction. In July, for example, voluntary turnover reached a level not seen since the pre-recession days of 2007, according to the Bureau of Labor Statistics. And the much-documented job hopping trend might seem to indicate that employees have left company loyalty in the rearview mirror. This may be true for some. However, LinkedIn’s recent Talent Trends study, conducted between January and March of 2016 with more than 26,000 professionals, showed that 25% of professionals today have their eye on a promotion. They don’t want to leave their company; instead, they want to stick around and move up the ranks.