Harnessing HR analytics and people focus helps businesses and their employees thrive.
As the global skills shortage grows, organizations look at internal redeployment solutions.
In a tightening employment market where skills shortage escalates, employers are looking at their staff for internal mobility. Now more than ever, employers are realizing the benefits that come along with redeployment, including cost-savings, employee engagement and positive employer branding.
An increased use of HR analytics and data are now allowing companies to address talent shortage and look at redeployment in a new, more “intelligent” way, making redeployment more effective than ever before.
With technologies evolving faster than ever, there is a greater need for companies to hire flexible and 'redeployable' talent as needed. While redeploying employees has been a strategy used by companies over the last several years, the use of HR analytics offers businesses a wealth of information about their human capital. Talent analytics offers recruiters and leadership teams deeper insight into a company’s talent portfolio, allowing for more informed hiring decisions to be made.
Using HR analytics, hiring managers use metrics that more accurately measure employee skills and performance, identify gaps and deficiencies to help recruiters plan and place personnel where they are best suited. No matter what the goals, internal redeployment requires talent intelligence to match skill sets with open positions, helping companies stay competitive.
shift from external to internal focus
According to Gartner Inc., companies will need to shift from external hiring to training their current workforces to address the increasing global skills shortage.
A 2018 survey conducted of 137 senior executives showed growing concerns of talent shortage compared to recent years, with sixty-three percent of respondents indicating that a skills shortage was of their top concerns for 2019.
internal mobility to engage and retain
Since the global skills shortage is expecting to grow in coming years, an alternative to layoffs and loss of talent is internal redeployment. Redeployment keeps your already-trained and skilled employees available for new roles that may open up within an organization, resulting in a quicker fill-time.
A few more redeployment perks:
- Organizations avoid the high costs of recruitment, hiring, and onboarding
- Builds a positive employer brand, sending a message to your teams that you put your people first
- Keeps morale and optimism of current employees high
In the face of a growing talent shortage and keeping in mind the impact it has on the bottom-line of organizations, leaders should be looking within their teams to develop internal bench strength.
To be truly visionary, organizations that harness HR analytics and put the focus on their people will help their business and their employees thrive.