The Money for Mobility
It’s no secret that people are leaving your companies to join other companies. We are constantly hearing about The Great <insert word> that’s ravaging our workforce right now. We know. We get it.
We also know that these people would really rather stay. It stings, but we can’t do anything about it because we don’t have the budget for it.
Many leaders tell me they’re just going to “wait it out.” My response is always “when do you think this is going to change?”
They don’t know, but they know they are stuck.
Well, I’m here to help! I have three places where you can shift dollars to support internal mobility, internal recruiting, and internal sourcing. This is money you already have in your budget. It may be underperforming in some areas, but guess what,? You can re-allocate!
#1 Under-performing media
Would your programmatic budget notice a 10% reduction? No.
Do you think it would deliver 10% fewer candidates? Also, likely no.
You have underperforming media. Media that you are spending on daily, for doubtful returns. You know that some social posts and select Indeed sponsored jobs (among others) aren’t delivering quality candidates.
You know who IS a quality candidate? Someone who already works for you and might be on the verge of leaving. You could easily put a small percentage of your programmatic spend into internal mobility and not even notice. And then reap the rewards of saving some a-players.
#2 Unused sourcing licenses
How many sourcing tools do you currently have? Okay, now how many of those licenses are actually being used?
Last time I did some research on this, about 40% of the sourcing licenses were un-used. Why? Frankly put, people aren’t using these tools because they get a terrible response rate.
You know who responds? People who already work for you! If people aren’t using their licenses, move that money over to a tool that allows your recruiters to source your own people. You will get plenty of responses – and results.
#3 An early adopting LOB
It’s safe to say there is a line of business at your company right now chomping at the bit to try something new, and odds are they have a few dollars to spend. They may want that “something new” to be an investment in recruitment marketing or your employer brand.
What they should be thinking about is investing in growing their people. Early-adopter business units love to try new things and trying internal mobility will give the leaders of these teams bragging rights. They will be talent exporters, put their people first, and help the company grow too.
It's tough when you are in the midst of a major market shift with talent. It’s even tougher when the market shifts outside the budget cycle.
There are solutions to this problem. The money is there. Internal mobility, internal recruiting, and internal sourcing don’t have to break the bank, and you could test these ideas with money that’s underperforming for you.
The money is there. Is the will?