Everything we thought we knew about attracting and retaining talent
LinkedIn recently shared an excellent 5-step guide to internal recruiting. This hiring method is often overlooked in the search for top talent but can actually benefit companies greatly in the long run.
For instance, in 2014, global investment bank and financial services firm Credit Suisse cut their employee attrition rate by 1% using an upgraded internal recruitment strategy. Doing so saved them $75 million+ in rehiring and training expenses. This is just one benefit of promoting internal mobility and allowing employees to move around your organization to grow and further their careers.
Here are the five guidelines LinkedIn proposes as best practice when recruiting internally within your business:
Five Important Guidelines To Follow When Recruiting Internally
1. Get Buy-In From Key Stakeholders
Get your key stakeholders on board with a formal internal recruitment campaign by crafting a compelling pitch that makes the benefits thereof very clear. Communicate your goals and be realistic about the resources and timelines that will come into play.
Also, be ready to avoid departmental conflicts by offering the top view of how this stands to benefit the business as a whole.
2. Tailor A Formal Internal Hiring Process
Internal recruiting requires there to be a strategy in place that gives all employees equal access to opportunities. Start by surveying your employees to see how they feel about their current positions and how they’d like to grow. Then create an internal job board or microsite where opportunities are shared for all to see. Also, remember to keep diversity in mind when it comes to building your team.
3. Get To Grips With Your Internal Talent Pool
Work with department and team managers to create cross-functional projects and opportunities to understand employees’ soft skills and true job passions. This can pave the way for successful lateral moves within the company.
TOP TIP: Recruiting/rehiring alumni can be a form of internal hiring. Although these employees no longer work for your company, they still have ties to it and know the ins and outs of the business from working there before. As such, it pays to build a pipeline of potential boomerang hires.
4. Leverage The LinkedIn Platform
Task your recruiters to search your existing team on LinkedIn to experience their skill sets objectively from a brand-new angle.
5. Design An Awesome Onboarding Experience
Once you’ve identified a great internal candidate for a new position, be sure to onboard them effectively into their new department. It can be easy to overlook this part because they are already a part of the company, but it’s important not to slip up here. Make them feel welcomed, ensure a seamless transition, and check in with them regularly to see if everything is running smoothly.
When approached correctly, internal recruiting is a fantastic way to make the most of the human resources you have at your disposal. Start by getting buy-in from key stakeholders and tailoring a formal internal hiring process. Then, get to grips with your internal talent pool, leverage LinkedIn, and design an awesome onboarding experience.
Join the mailing list to get early access to The Alumni Advantage, an end-to-end understanding of how organizations are recognizing and leveraging their former employees; authored by James Sinclair, Co-Founder and Chief Executive of EnterpriseAlumni.