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Internal Mobility, The Talent Marketplace, and Why to Embrace It

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The world of work is rapidly evolving, and so are the career aspirations of the people. Compared to what we saw decades ago, people don’t want to embrace the same position for years till they retire. Instead, they are looking for opportunities to try new duties, get new skills, and stay flexible and agile.

On the flip side, today’s labor market is highly competitive, and there is a scarcity of skilled workforce. The PwC CEO survey reveals that a whopping 74 percent of CEOs are concerned about the shortage of critical skills and talent.

As a response to those challenges and today’s look at the future of work, internal mobility comes into play very actively.

The ‘secret sauce’ of internal mobility

The modern internal mobility concept evolved as the next logical step after the traditional career management model. The problem with career management was the idea of “waiting until someone is ready.” This resulted in losing top talent who took career opportunities elsewhere. Even if mobility was facilitated—or rather forced by management—it looked more like “assigning” new roles to employees.

Internal mobility today is agility built into the company’s talent processes. This model allows companies to get the most out of the talent and skills their employees obtain. Employees, in turn, get multiple opportunities like taking new and adjacent roles, upskilling, and keeping up with the company without having to leave it.

Internal talent evolution, however, wouldn’t be possible without technology. Today, the HR tech landscape contributes to internal mobility by providing what are called talent marketplace solutions. Simply put, a talent marketplace is a platform that connects employees with career opportunities inside the organization.

From recruiting to employee upskilling: What the talent marketplace brings in

The talent marketplace helps companies improve their employee engagement, development, and retention. Other challenges the talent marketplace helps address are:

  • Accelerating time-to-hire and optimizing hiring costs: Many organizations still pay big bucks to recruit people from outside. With a talent marketplace platform and insights into the company’s skills and talents, organizations can save recruiting expenses and instead connect their internal employees with the internal job openings.
  • Improving productivity of new hires: Employees who joined a new project or stepped into a new area of responsibilities within the company demonstrate better productivity. The reason follows. Internal talents have already spent some time with the company and can bring their valuable insights and skills to the new role. Besides, the opportunity to shift to a new role within a company contributes to employee motivation, engagement, and development.
  • Addressing skill gaps and future-proofing: The talent marketplace also helps the company coordinate all its available talents and see if they match current and future job roles. This way, companies can spot the skill gaps and align their employee development activities with their strategy and market trends.
  • Building a more agile workforce: In the long run, by embracing internal mobility powered by technology, companies can foster transition to a more agile workforce.

Talent insights as a fuel for internal mobility

One more component that makes internal mobility sufficient is data. The lion’s share of it, apparently, comes from within the company. Employee CVs, job profiles, training programs, and other assets containing information about skills are filling the internal mobility machine. Data about internal skills loaded into the talent marketplace platform transform into insights. Some of them allow companies to:

  • Basically, match employees to existing job openings, projects, and tasks
  • Personalize reskilling and upskilling journeys to help employees grow into new roles
  • Benchmarks future skills and future jobs

Another source of insights fueling internal mobility is the external market. Market trends that have run through the talent marketplace provide companies with insights into emerging roles, skill developments, and future business trends awaiting the particular industry.

With intelligence like this, companies can fill existing job openings with existing employees and take internal mobility to a whole strategic level. Specifically, they can make skills in their company transparent. Also, they can know what skills are still missing in their company, and plan strategies to address these deficits. They can plan, personalize, and predict the effort of employee development initiatives aimed to fill in the skill gaps.

Of course, embracing internal mobility doesn’t happen overnight. It takes time, investment, data, and the right technology. But most importantly, it requires the right future-oriented mindset. American Express, IBM, Nestle, P&G, Unilever, and Google are just a few examples of brilliantly performed internal mobility strategies set on the future and employees’ development. Hopefully, more prominent companies will join these ranks.

Why Data Literacy is the Future of Work

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Many questions remain in the aftermath of COVID-19, with some of the biggest ones relating to the economic recovery. When will the economy rebound and, if so, how long will it take? What skills are needed to ensure the next generation is capable of recovering from the next pandemic? And, are those skills applicable to other black swan events? It is equally as important to ask this question: What role will data play in not only predicting but preventing future problems?

These are all important questions. But, we must reflect before we can use data to unlock a longer-term economic recovery. We should, in effect, examine who will be doing the unlocking: the students of today. The pandemic disruption to their education has been profound, and its impact may be long-lasting.

In the days leading up to World Youth Skills Day, the United Nations shared data highlighting the impact on global education. Between March 2020 and May 2021, schools were either fully or partially closed for more than 30 weeks. Nineteen countries still had full-school closures by late June, impacting nearly 157 million learners. This was in addition to the 768 million learners who were affected by partial-school closures. Another study by Bellwether Education Partners estimates that three million already underprivileged students stopped their education during the pandemic. This widened the gulf between them and STEM careers.

Although the pandemic may have thrown existing plans off course, education is a lifelong journey. It is now time to get back on track. We can start–and come out stronger than ever–by learning how to read, understand and work with data. In other words: we can become data-literate.

Data Skills Are Vital for Any Career

People don’t often think of data as an HR tech tool. But, if we are to overcome the economic challenges of the last year, we have to think outside the box. We will need to have the skills necessary to quickly interpret and act on information as it’s delivered. In order to do that–and become a society that’s led by data, not assumptions–change is in order. Most notably, educational, business, and governmental institutions will need to take a closer look at data literacy.

Data literacy has become a core skill that everyone needs in the modern workplace, not just analysts or C-suite executives. Every individual–from those who are still in school to new recruits and beyond–must be prepared. They need to be able to comprehend the power and potency of working with data. Without that knowledge, they won’t understand the scope of the challenges and opportunities in front of them. And no amount of HR tech tools will change that. They need to know how to digest the numbers, argue with the results, and put data to use. In doing so, they’ll be able to solve problems, invent new solutions, and uncover ways to be more productive.

This is no small matter, and achieving a high level of data literacy will not be an easy task.  Research shows that less than one-third (32 percent) of C-level executives are classed as data literate. Less than one quarter (24 percent) of business decision-makers are confident in their ability to use data effectively. Data literacy is even lower for 16- to 24-year-olds; only 21 percent are able to effectively use and work with data.

Closing this gap will require that data literacy training is embedded in schools and workplaces. And, most importantly, that it is available to everyone throughout their careers.

Career Progression Depends on Data Literacy

Students and young professionals may not yet understand the importance of data literacy. However, if they don’t learn now, it could be too late. Businesses already need and benefit from hiring people who are data literate. They increasingly rely on HR tech tools to ensure the hiring process is as smooth as possible. But, these skills will be table stakes for the jobs of the future. This is why a growing number of universities, colleges, schools, and educators are taking action.

Ensure That Data Literacy Is Part of the Curriculum

Data literacy should not be limited to students in math or analytics-related programs. It should be part of every curriculum, no matter the subject or desired career. Just as English and basic math are essential to virtually every profession imaginable, data literacy has become a must-have skill. It will provide great value to current and future workers. Data literacy will make candidates more attractive and allow those with this skillset to excel with any employer.

Upskill the Masses With Continuing Education

Although it is important that future generations are prepared for the data-driven economy, existing workers don’t get a free pass. They must also possess the skills necessary to read, comprehend and use data to make informed decisions. And, for that, continuing education is a must. Whether delivered by employers, at school, or in a virtual setting, data literacy has become a vital skill set. The Data Literacy Project offers free resources that can help individuals, enterprises, and institutions get started.

Rise Above the Economic Downturn

Data is an essential component of every organization. We need it now more than ever. As we look to rise above the economic downturn, organizations will rely on HR tech tools to find new talent. From automakers and financial institutions to consumer packaged goods and beyond, they’ll be looking for people who are data literate. Businesses have found that they can make more intelligent decisions when relying on accurate information. Data can be the difference between success and failure, especially when a business fails to turn information into actionable insights.

However, most information still goes to waste. A report by IDC shows that organizations use just one-third (32 percent) of the data available to them. Make time to grasp the importance of data literacy to reduce waste. This eliminates guesswork and leads to productive employees and more successful enterprises driven by data. And, that will allow us to come out of the pandemic with an economy that’s stronger than ever before.

Hiring for Startups: 6 Practices to Build a Winning Team

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Google consistently ranks as one of the top companies to work for. It offers attractive compensation packages and tons of perks, like free food and onsite gyms. The company even has a “20 percent time” policy, where employees can spend 20 percent of their time on side projects.

It’s no surprise that Google receives an astounding three million applications per year. Needless to say, Google and other major corporations have no problems attracting talent. But startups face significant challenges right off the bat when it comes to hiring.

Challenges of Hiring for Startups

Startups don’t have the same reputation as more established companies. This makes attracting talent difficult in the early stages.

Most startups also lack the funding to invest in HR. Without a department to handle recruitment, company founders often have to take on hiring duties on top of their workloads. Even if they do find qualified candidates, they might lack the skills to assess their abilities.

A lack of hiring experience and an inability to offer competitive compensation packages make hiring all the more challenging for startups. So how can you overcome these hiring challenges?

Top 6 Practices to Build a Winning Team

Hiring the right people is crucial for the success of any startup. A survey by CB Insights revealed that one of the top reasons startups fail is because they don’t have the right teams.

It’s not an understatement to say that your hiring decisions could make or break your company. Follow these best practices to build a winning team for your startup.

1. Hire slow, fire fast.

Bigger companies can afford to leave positions vacant until they find the right person. Startups don’t have that same luxury. A skills gap can hamper growth and put projects at stake. But rushing through the hiring process can result in poor decisions.

“Hire slow” means hiring with intention, and “fire fast” means parting ways with employees who don’t work out sooner rather than later. Evaluate what positions you need to fill and get clear on the qualifications that new hires need to succeed in their roles.

For any documents you and your employees will need to sign, consider using document signing software. This will help shorten the time to productivity for new hires.

2. Don’t hire based on hard skills and experience alone.

It makes sense to hire the most qualified candidates you can. But hiring solely on skills and experience can limit your talent pool. Don’t shy away from hiring qualified and passionate candidates when building your team.

Passionate employees are highly engaged. They’re enthusiastic about the work they do and have a vested interest in helping your startup succeed.

Deloitte defines three characteristics of passion:

Commitment to the domain: Employees are committed to the work they do.

Questing disposition: Employees are always seeking new challenges.

Connecting disposition: Employees seek deep interactions with others.

Look for employees who exhibit these characteristics. During the interview process, ask potential candidates why they chose this particular industry and what kind of challenges they’re looking for.

3. Decide when to hire generalists vs. specialists.

One important decision you’ll make when hiring for startups is whether to hire generalists or specialists. Hiring a combination of both is crucial to building a winning team.

A generalist is a “jack of all trades” individual with a wide range of skills. They could pitch prospective clients one day and contribute to a marketing campaign the next. Generalists are valuable hires, as they can draw from their vast experience to solve different problems.

Specialists, on the other hand, are experts in their respective fields. While specialists cost more to hire, they can contribute to key growth areas in ways that generalists can’t. For example, when choosing an appropriate business structure for your startup, you’ll want to work with a specialist to help you navigate this complex process.

4. Hire based on company culture fit.

Hiring candidates based on company culture fit is just as important as finding employees with the right skills. Employees whose values align with their employers are more likely to enjoy their jobs and perform better. This ultimately leads to a more productive workforce.

Define your company culture and identify the core values that your startup represents. Have these core values ready as you interview candidates and highlight them in your job postings. Consider using behavioral assessment tests to determine whether candidates will fit in with the company culture and the rest of the team.

5. Diversify your potential hires.

Hiring people from different backgrounds offers numerous benefits. Workplace diversity fosters creativity as each team member can share their own unique perspectives. This inclusiveness makes employees feel more valued and willing to contribute.

Employees who also speak different languages can contribute to the team from their diverse cultural backgrounds. While it’s best to speak business English if you’re based in the U.S., you should also encourage your bilingual and multilingual employees to enlighten other team members about their language and customs.

Ways to diversify your workforce include writing more inclusive job descriptions, advertising listings on different job boards, and turning to existing employees for diversity referrals.

6. Consider investing in a recruiter.

Taking on recruitment duties takes you away from other responsibilities like reaching out to investors, developing product roadmaps, researching new markets, etc.

To help with your hiring efforts and save a great deal of time, consider working with a recruiter. These individuals do a lot of the legwork to find qualified candidates. Alternatively, you can also work with a PEO company (Professional Employer Organization) to help with employee recruitment and retention. Hiring such an organization will provide the data and tools that you need to save time during this process.

What happens next?

Employees are perhaps the most valuable asset for any company. They carry out your vision and work directly with your customers. As you build your team, it’s important to exercise strong leadership and practice team building to encourage collaboration.

Provide opportunities for growth and ongoing education. This will motivate employees to work harder and increase retention rates.

Finally, continue to refine your hiring process. Even if you’re not hiring right now, you most certainly will be in the future. Solicit feedback from current employees and work on your content using content optimization software to make it easier for potential candidates to find you online.

Hiring can be a complex process for any organization, but hiring for startups comes with its own set of challenges. The people you hire now can mean the difference between growing your startup or seeing it stagnate. Implement the tips outlined here to build a winning team and hit the ground running.

How to Attract and Retain the Best Employees in 2016

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As colleges crank out more graduates, our economy’s pool of potential employees grows. Selecting and enticing the right ones are going to be paramount to any business strategy in 2016, especially because the pool is diluted to the brim with mediocre to average prospective hires. Many business are going to need to brush up on hiring and retention strategies if they want to attract and retain the best employees in 2016.

Polish That Glass Door

It wasn’t long ago that employers began carefully scrutinizing their prospective employees Facebook profiles to determine more about them than they may be letting on in the first interview. It didn’t take long for potential hires to turn the tables. Websites like Glassdoor offer a place for employees around the world to review their places of work, list pro’s and con’s, and rate the company’s CEO. It’s basically like Yelp! for the job-seeking world. Building up your talent brand means ensuring that your organization is represented in the job market as the employer of choice via online profiles and employee reviews. This also includes social media, as sometimes Facebooking and Tweeting employees serve as your best talent brand ambassadors.

Prepare, and Be Snappy

You think you’re the only business looking to hire talent? Businesses are going to be competing for the best all throughout 2016, so make sure yours is snappy. Demonstrating that you respect their time and gather as much information as you can in a short amount of time via personality tests and video conferencing. On the flip side, if you are looking to get to know your employees a little better before you hire them full time, consider establishing internship programs. Not only does this gain you the ability to observe somebody’s work before hiring them, but it also gives you an edge with the first pick of the best college students before they even graduate.

Offer a Partnership Instead of a Job

Two-thirds of companies will face an internal skills shortage in the next three to five years, and only 30% of employees are satisfied with the future career opportunities within their organizations, according to Eremedia.The solution to this is not to offer “jobs” to candidates, but instead to offer a partnership, or a trade of sorts.

In return for their hard work (and their paycheck of course!), explain to your prospective hire what types of skills they will be learning that will make them more employable in the future, either for positions they may obtain via internal promotion, or at another company. It’s ok to recognize that your employee might not stay with you forever, and most potential hires will probably appreciate the honesty.

Recognize that no candidate is perfect, but that they can be trained to get pretty close. This type of flexibility and willingness to up-train a bit will also help fill the hard-to-hire positions left void by the STEM skills gap. Also, recognize that attitude and soft skills can be more important than having all of the hard skills. What is important is the career aspiration and that you have a candidate that’s looking toward their future. Those candidates are the ones that want to better themselves, which will, in turn, better your business.

Give Better Perks Than Coffee

Traditional benefits packages include health insurance, 401k, a of couple vacation hours, and probably free coffee on the jobsite–but traditional benefits packages aren’t enough to attract the best and brightest anymore. Millennials, the majority of your incoming workforce, are changing the way the workforce views perks. More laid back dress codes and flexible work hours fall in line with the new Generation’s valued self-expression. More flexible work hours and work-from-home options highlight your understanding that they place just as much importance on spending time with their families and their pursuing their passions as they do on working for your business and earning money. Make sure that your employee is happy, and your employee will make you happy.

Encourage Autonomy, Mastery, and Purpose

Business author Daniel Pink believes that all workers actually want only to be provided three things: the autonomy to do their jobs, however they have to, the opportunity to master their trade, and that purpose beyond earning a buck is inherent in their work. The workplace is changing to reflect these realities is apparent, as more people are being offered flexible scheduling, up-training, and the chance to work for companies that better the world and do more than just “make money.” Initiatives as simple as going green at the office can provide that purpose. These three principles show that even employees that don’t have all of the hard skills can be guided to learn them because inherently people want to be good at what they do. If you provide an environment in which an employee can excel by giving them those three basic things, they’ll better themselves, they’ll better your company, and they’ll stick with you for as long as they can.

By adhering to these principles and preparing for the new generation’s wants and needs, you’ll be attracting top talent throughout 2016. Miss any essential tips that I missed? Comment below.

photo credit: #1 via photopin (license)

Leadership + Influence From The Inside Out #TChat Preview

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(Editor’s Note: Are you looking for all the highlights and resource links from this week’s #TChat Events? You’re in luck — they’re right this way at the #TChat Recap: Gut Check: Emotions and Leadership.)

“It’s not personal — it’s strictly business.”
–Mario Puzo “The Godfather“

Have you ever heard someone at work echo that classic line to dismiss their ruthless, destructive or self-serving behavior? In the past, that kind of cold-blooded Mafia mindset was all too prevalent in business. But these days it’s losing relevance, as emotional intelligence takes hold.

Although academics continue to debate various “EI” models, the core concept is simple. It’s based on the notion that the more mindful we are of the “human” side of business (in ourselves and others), the more effective our performance will be, and the more likely we’ll influence others’ performance.

While some people resist the term “emotional intelligence,” the concept is gaining traction. Some of the world’s most successful organizations — companies like Google and Microsoft — are actively developing emotional intelligence in their workforce. Why does it matter? And how can it “make” or “break” your professional reputation?

That’s the topic we’re discussing this week at #TChat Events, with EI expert, Steve Gutzler, President of Leadership Quest, a Seattle leadership consultancy, and author of “Emotional Intelligence for Personal Leadership.”

“Sneak Peek” Hangout

To kick-off this week’s discussion, Steve joined me for a G+ Hangout, where he briefly shared some fascinating insights about the importance of emotional intelligence in the workplace:

This week’s #TChat Events promise to be helpful for anyone who wants to work more effectively with and through others. So bring your questions and ideas — and let’s talk!

#TChat Events: Emotional Intelligence, Leadership and Influence

#TChat Radio — Wed, Dec 18 — 6:30pmET / 3:30pmPT

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Tune-in to the #TChat Radio show

Our hosts, Meghan M. Biro and Kevin W. Grossman talk with Steve Gutzler about why emotional intelligence matters in the workplace, and its connection with influence. Tune-in LIVE online this Wednesday!

#TChat Twitter — Wed, Dec 18 — 7pmET / 4pmPT

Immediately following the radio show, Meghan, Kevin and Steve will move to the #TChat Twitter stream, where Dr. Nancy Rubin will lead an open chat with the entire TalentCulture community. Everyone with a Twitter account is invited to participate, as we address these 5 related questions:

Q1: Why is emotional intelligence so critical for today’s leaders?
Q2: How do emotional “soft skills” complement hard-edge business skills?
Q3: What is emotional hijacking vs. emotional self-management?
Q4: How can business leaders offer productive emotional influence?
Q5: What technologies can foster employee appreciation + emotional commitment?

We look forward to hearing your feedback, as talent-minded professionals, who care about the human side of business.

Throughout the week, we’ll keep the discussion going on the #TChat Twitter feed and on our LinkedIn Discussion Group. So please join us share your questions, ideas and opinions.
We’ll see you on the stream!