Employers’ focusing on internal talent
Employers are prioritising searching for talent within their existing workforce rather than looking externally for new hires because of the uncertainty caused by the coronavirus crisis, research has found.
A survey of more than 250 UK business leaders by LinkedIn found that nearly a third of employers (31 per cent) said they would be focusing on giving employees the opportunity to move into different roles internally in the next six months. A similar number (32 per cent) said that reskilling and upskilling employees is a top priority for 2021.
The continued uncertainty around Covid-19 has meant many companies are looking to tap existing employees for new opportunities within their organisations instead of hiring external candidates.
Encouraging internal mobility not only boosts retention and improves employee engagement, but it can also help companies evolve their businesses from within and bridge any existing skills gaps.
The research found a third (34 per cent) of leaders said they wanted to create a culture of learning to help employees develop the skills they needed for the future, and 31 per cent said they were focused on closing the skills gaps within their organisations.
By not investing in employees, employers could enter a “vicious cycle”, with the increasing likelihood that employees could leave the organisation, and the business could also be unable to introduce the product and process innovations that are needed to be competitive in the future.
Developing internal talent also built positive relationships with employees, demonstrating confidence in the skills and competence of the workforce and meeting aspirational needs.