As we move into 2017, I believe we will see an increased focus on developing internal talent and sourcing talent from within organizations than we have seen in years past. Many studies have shown the benefits of internal recruiting, including lowers costs, quicker ramp-up periods, higher employee engagement and satisfaction, and generally higher rates of success in the positions.
A recent Global Recruiting Trends 2016 report from LinkedIn noted, though, there is a misalignment between priorities with employee retention being the number one priority for 32% talent leaders, but only 12% saying that internal hiring was their number one priority. Internal hiring, though, can be one of the biggest impacts on employee retention.
However, over 75% of organizations recruit internal candidates for open positions.
As companies look to focus on retention and inevitably focus more on their internal sourcing and hiring strategies, I believe we will see a couple major shifts in the state of internal recruiting in 2017.
Organizations will develop more formal programs for advancement and lateral career moves.
Even though 75% of organizations recruit internal candidates for open positions, most organizations do not have a formal strategy in place for internal recruiting and sourcing. The same LinkedIn study also asked talent acquisition leaders about their internal hiring practices, with only 24% of companies having a formal program for advancement opportunities and 12% having a formal program for lateral moves.
If organizations are going to take their internal sourcing strategy seriously, they will need to put some thought into the internal development resources and practices for moving laterally within the company. Monster.com recently profiled 10 companies including AT&T, Amazon, and Paychex on their internal training and development practices. You don’t necessarily need to create Acme University for your company to succeed, but you should be thinking proactively about ways to develop your talent and how you will find the right talent in your organization when it comes to internal sourcing and new opportunities.
The “internal resume” will become vital.
Employees should also begin to think more about developing an “internal”, dynamic resume that continually showcases their skills, talents, and experiences as they develop within the organization and team they currently work for. Many people don’t think about their resume or LinkedIn profile until they’re looking for a new job, but I believe we will see this concept of an internal, dynamic resume increase in importance as internal sourcing becomes more and more important in 2017 and beyond. It’s important to note that your internal resume may look different than a traditional resume or LinkedIn profile. You may want to think about how you tailor your wording, industry terminology, and even specific accomplishments to your internal audience. You could even add performance review data, commentary from previous managers and co-workers, or personality assessment data.
If you’re interested in learning more about the concept of internal resumes, stay tuned to the Structural blog — I plan to dive into internal resumes and the makeup of a good internal resume in an upcoming article.