The Report by Randstad RiseSmart Found that US Employers are Welcoming Internal Mobility to Fill Vacancies
Career mobility provider Randstad RiseSmart released its Q2 2021 Career Mobility Outlook report today. The report found that 92% of the employers plan to hire in the next 3 months, an increase from 87% in Q1. The second edition that surveyed US based HR professionals from a host of industries provided a look at the expectations of respondents on key workplace aspects like recruitment trends, internal mobility, economic sentiment, and in-demand skills.
Employers are positive about labor market recovery
The survey found that nearly 60% of employers are optimistic about the US economy’s trajectory. The positive outlook aligns with recent labor market trends, where more jobs were added to the economy in July particularly leading to the unemployment rate falling steeply to its lowest since the COVID-19 pandemic began.
The Labor Market Barometer improved by 0.8 points over last month’s figures. The Barometer aggregates 10 major labor market indicators into a single, monthly figure indicating the pulse of the US labor market.
“Employers are facing challenges recruiting and retaining talent.” said Dan Davenport, CEO – Randstad RiseSmart. It will be crucial to focus on providing opportunities for internal career development to employees, he added.
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Organizations increasingly aim at retaining employees
The first edition of Career Mobility Outlook report saw employees hesitant to switch jobs during the first quarter but the perspectives underwent change in Q2 with 42% of employees open to internal career development. The technology sector (73 %) and financial services sector (57%) employees are most likely to take up internal transfers in the next quarter while 38% would move externally.
Organizations are thus adopting proactive employee retention strategies and prioritize career development initiatives increasingly. 76% of employers are providing skill and career development opportunities to their employees leading to building a positive perception of the opportunities among 60% employees.
Internal mobility is the way ahead
The survey says that 87% of employers believe that a minimum of 10% of current job vacancies can be filled with internal mobility at their organization. Further, findings show that managers might be more willing to share talent.
Davenport said that the current talent supply is not meeting the demand. He continued, “…Organizations are recognizing the numerous benefits internal mobility can offer, including decreasing recruitment and onboarding costs and building a more engaged, agile workforce”. Thus prioritizing internal mobility with equal access to career development and encouraging managers to welcome a talent sharing mindset is the needed response.
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