Working It
Your best new hire may already be on staff
Jan 16, 2024
Global HR expert Josh Bersin discusses the benefits of internal development and the financial advantages of prioritizing internal mobility. The podcast explores the advantages and disadvantages of internal hiring, including the challenges of reskilling employees and the trend of recruiting people who already have jobs.
12:45
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Quick takeaways
- Companies that focus on internal development out-perform those that primarily look for talent externally.
- While promoting internal talent has benefits, it also has drawbacks, and managers need to carefully evaluate internal candidates and assess team needs.
Deep dives
Promoting Internal Talent
The knee-jerk reaction in most organizations is to look for talent externally rather than promoting internal talent. However, research shows that companies that focus on moving people around inside the organization are out-performers. The philosophy is that every employee is capable of doing more under the right conditions. Companies like Unilever and Microsoft allocate a significant portion of their learning and development budgets to internal development and career pathways. Developing workers leads to the improvement of the company's overall performance.
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