Employee’s can’t find career growth.
In almost every large organization, employees can’t find career growth opportunities within their company. It is the #1 reason why employee’s leave their current employer. Often this is due to poor visibility internally paired with heavy recruiting dollars spent by other companies hiring externally. Employees find it easier just to leave.
The cost of internal mobility is staggering.
The business case for internal mobility is crystal clear - it is costing your business millions every year.
42% of departing employees cite a lack of career growth as the reason why the left.
Each departure costs 6 to 9 months of the departing employee’s salary to replace them (on average ~$30,000)
Not to mention - it costs 18-20% less in salary to hire internal vs. external.
Internal hiring provides a better quality of hire.
Beyond just the sheer cost savings, hiring internally results in better talent in open roles. It helps retain the talent you care about and develops the future leadership within the company.
Internal hires have been shown to perform better and reach productivity sooner than external hires. This because they already get your culture, your people and your customers.
Mobility isn’t open for everyone: Underrepresented women are 50% more likely to passed over for for a promotion than a white man. Leverage better internal mobility to keep and grow talent