With many organizations reducing their headcount or instituting hiring freezes, talent management attention is increasingly focused on maximizing the productivity, impact, and engagement of the existing workforce. Measures such as Profit per FTE, Voluntary Turnover Rates, and Employee Satisfaction scores are commonly used to gauge progress towards human capital or business objectives.
However, often overlooked in workforce plans and executive scorecards are metrics and analytics that illustrate how internal mobility—the upward, downward, and lateral movement of employees—contributes not just to business success but individual development.
For example, how many firms know:
1. The costs and benefits of increasing or decreasing workforce mobility?
2. The effectiveness of programs designed to increase internal hire rates?
3. Which functions, roles, or levels are career-path “ceilings” that hinder the upward movement of talent?
The organizational imperative to address these questions is two-fold. First, in order for an organization’s workforce planning processes to provide meaningful data to the business and HR, it is essential to know not just where employees are currently, but where they have been and are likely going to be in the future.
Second, if HR leaders are unaware of what opportunities their employees have to move and advance within the organization, employees are likely to be equally unaware. According to well established data on HR practices, the lack of career development and advancement opportunities is consistently listed as one of the top reasons that employees leave an organization. This dearth of opportunities disproportionately drives away the best, brightest and most ambitious workers who might otherwise hope to grow and advance. These are the very employees who you want to keep as the foundation for your firm’s future.
In this webinar, Infohrm’s Nick Garbis and Andrew Jacobus will outline innovative practices for identifying:
• Optimal career paths for business-critical jobs
• The best sources of internally transferable employees
• Where limited opportunities are driving turnover
• Potential disparities in opportunities for diversity groups
• The efficacy of recruitment and selection processes
Furthermore, using a new suite of tools and services called “TalentFlow Analytics,” organizations can create powerful visualizations of the movement of talent into, through and out of an organization.