Innovative Approach Dispels Old Ways of Thinking About Employee Retention Across the Workforce
WORQDRIVE, the people-first internal talent mobility engine designed to make it easy for employees to stay, announced the launch of a new module that re-imagines the succession planning process. The additional functionality reinforces the flexibility of the WORQDRIVE solution while allowing leaders and employees to envision possible talent development plans, which are a critical retention strategy as the Great Resignation continues to impact organizations across industries.
According to SHRM, “Organizations with formal succession planning are more likely than those with informal planning to (1) be more proactive in identifying and developing their leadership talent; (2) be more attuned to diversity issues; and (3) have a more transparent succession planning process.” Historically, succession planning was limited to the leadership ranks, identifying the key competencies necessary and formulating an action plan to maintain business continuity and shareholder confidence. The inherent limitations of focusing only on the C-suite led to valuable employees leaving the organization entirely. This traditional mindset no longer holds in today’s job market, between the cost to recruit and the challenge of sourcing available talent, particularly for essential roles.
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Seeking to address the pitfalls and help people teams retain talent amid ongoing shortages, WORQDRIVE aims to democratize succession planning across the workforce. WORQDRIVE makes it possible to create succession plans for employees at all levels in line with current organizational needs, such as short-term support gigs or an impending retirement as well as long-term talent development.
With WORQDRIVE, after creating a plan, team members use the module dashboard to collaborate and search for talent within the organization anonymously. The robust search functionality looks at different elements of the employee profiles, leveraging a propriety scoring mechanism to rank talent based on skills, level of advocacy and uniqueness. Once a match is found, the people team can reach out to the employee through the built-in messaging feature to gauge their interest. Upon receipt, the employee is given a choice to opt-in based on their goals and aspirations. To ensure employees remain in control of their career path, their identity remains hidden until they accept the proposed plan.
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Industry analyst Madeline Laurano, founder of Aptitude Research, commented, “This isn’t the same workforce as it was two years ago, so for total talent management to be effective, companies need to look at traditional practices through a contemporary lens. Succession planning is ripe for disruption, and knowing that, WORQDRIVE is helping innovate a critical step in the process.”
WORQDRIVE CEO Tracey Parsons shared, “Internal mobility encompasses more than simply connecting current employees with open opportunities, and succession planning is part of the equation – provided we rethink what it entails. It’s not only for executives, not only for one type of role over another. Succession planning is for every employee, and with the WORQDRIVE module, employees get to see what potential plans look like while having a say in the final decision. It’s an empowering way to approach what is ultimately a people-driven process.”
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