future of careers: DRIVING FORCE
People want to switch their jobs, not their companies
Millennials and Gen Z: often decried as job-hopping strawberries unwilling to stick things through, given their shortening tenures at jobs. 60% of millennials report that they are open to new job opportunities. However, they’re no longer the fringe group of teenagers sulking in their bedrooms living on the internet – millennials now form the largest population group in most developed economies. 2 of these millennials are writing this very sentence. You’re probably one yourself.
Our preferences are now the realities of the workforce. 41% of employees globally are considering changing their employers – this number goes up to 47% in Asia. One in five voluntarily changed jobs in 2020, and even more (25%) plan to do so in 2021 – and once they get a new job, 18% globally intend to stay less than a year.
However, is this a sign of fickleness? Studies have shown that all generations have switched between jobs in the early parts of their careers – perhaps all we’re seeing right now is an extension of this exploration window, supported by higher access to education, a larger variety of careers, and stronger economies. Organisations that support this switching have been rewarded: Employees at companies with high internal mobility stay 2x longer.
More companies are trying to boost their internal hiring, particularly due to COVID: LinkedIn reports that the proportion of internal hiring went up 20%. However, almost two-thirds of talent professionals acknowledge that their company needs to improve internal recruiting. How should requirements change? How does familiarity with a company and industry weigh against specific subject-matter knowledge and experience?
Still, 57% of respondents in a study think it is easier to find a new job in a different organisation than to move internally. And why? 70% of managers are wary of internal mobility because they do not want to lose good talent.
More and more people want to change their jobs, not their companies – are organisations forcing their top-performers out by not supporting these moves?
Employees at companies with high internal mobility stay
of employees think it is easier to find a new job in a different organisation²
of managers do not want to let go of good talent¹
What if internal recruiting is the main way to fill roles?
Are your org’s managers incentivised to sabotage internal mobility?
Is it your role you want to leave or your company?
How do you position yourself for a new career within your current org
How do you identify sponsors/champions to support your internal mobility?
Maybe you’re facing a messy complex challenge or you want to scale your social impact.
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