Employees who want to advance are the ones who contribute the most to company growth. However, when employers fail to help their employees learn and develop professionally, they stagnate and suffer from the horrible side effects of talent hoarding.
Talent hoarding occurs when companies keep the best employees in their current roles and don’t provide them with any advancement opportunities or career development. How can companies solve this problem?
The infographic below — compiled by RolePoint, a talent acquisition software company focused on employee referrals, internal talent mobility, and creating seamless ATS connectivity — looks at why employers should care about the pitfalls of talent hoarding and how they can refocus on growth through a talent mobility program.
Here are some highlights:
- 50% of managers admit to talent hoarding, or keeping the best employees in their current roles
- 85% of organizations say they fail to demonstrate key behaviors linked to effective talent mobility
- 45% of employees who changed companies in 2014 and 2015 said they left because they didn’t have advancement opportunities
- 55% of employees rate opportunities to use their skills and abilities at work as a “very important” contributor to their job satisfaction
- 90% of HR professionals say an employee recognition program improved engagement
When employers invest in their staff instead of holding them back, the company is bound to grow. Retention improves, and employees are happier, more engaged, and far more productive.
Check out the full infographic below to see why talent hoarding needs to stop now and how providing growth opportunities turns a stagnant company into a higher performing one.
How are you stopping talent hoarding? Share in the comments below.
Waldorf, Md.-based Heather R. Huhman is a career expert, experienced hiring manager and president of Come Recommended, a content-marketing and digital-PR consultancy for job-search and human-resources technologies. She is the author of Lies, Damned Lies & Internships and #ENTRYLEVELtweet: Taking Your Career from Classroom to Cubicle.