Every client I've worked with over the past three years has seen a turnover increase during the "great reshuffle/great resignation." It is a significant pain point and is on the radar of every C-suite.
At the beginning of these conversations, I ask them to explain their internal mobility and transfer process. It amazes me that so many executives fail to understand that a less than employee-friendly internal mobility processes can significantly contribute to their turnover.
It is often easier for an employee to find an opportunity outside their current organization than inside. Why are you making it impossible for them to grow, move, and stay with you?
You can fix your issues and have a positive impact on your turnover by doing the following:
1. Get rid of the "hidden job market." Post all open roles for all employees to view and self-nominate. Hidden job markets perpetuate diversity, equity, and inclusion issues. They send messages to employees that you have to be "in" with the right leaders to find your next opportunity.
2. Stop requiring employees to notify their current manager of their interest in another internal role. It should be up to the employee when and how they communicate with their manager. When they apply for external positions, they don't tell their manager. Why should they do it internally?
3. Use the same selection process and criteria for all candidates (internal and external). Be transparent about that process and communicate the steps required and timelines.
4. Provide feedback. For goodness sake, please explain to employees why they aren't selected. Give them guidance on how to be successful next time or point them to other roles where their skills and competencies may be a better fit.
5. Pay the internal employee what you would pay an external candidate hired into the role. If you would have hired an external person at $100k for this job and determined that a current employee is the best candidate, pay them the same. It does not matter how much less you pay them for their current (and different) role.
6. Stop delaying their transfer to the new role. If the employee took a job at another company, they would give you two weeks' notice and then walk out the door. Why are you dragging out their transfer for weeks beyond that?
If you stop treating current employees poorly throughout this process, you may retain more of them.