Career Mobility: The Secret Sauce for Corporate Success?

In a world where 87% of executives report skill gaps or anticipate them in their workforce, companies can't afford to overlook internal talent development. Yet, a startling gap emerges: only 43% of employees feel their organizations encourage them to seek growth opportunities internally. This disconnect hints at a broader issue: the untapped potential of career mobility to synchronize organizational needs with employee aspirations.

Harvard Business Review lends weight to this perspective, highlighting that organizations which facilitate internal career mobility for their top performers not only enjoy higher retention rates but also benefit from reduced hiring costs and improved cross-functional collaboration.

In today's dynamic work environment, companies must recognize the value of diverse experiences, continuous learning, and adaptability as key components of organization and workforce growth.  Career mobility strategies offer a win-win solution by serving as the catalyst for employee skill enhancement, career fulfillment, and, ultimately, organizational growth.

At the nexus of this transformative approach is Disprz. With over a decade of experience, we empower organizations to craft effective career mobility strategies. Leveraging personalized learning paths, skill-building programs, and mentorship initiatives, we equip employers with the comprehensive tools necessary to elevate their workforce, enrich individual career paths, and drive organizational success forward.

In this blog, as industry experts, we will help you understand how career mobility benefits organizational and employee growth and how you can build an impactful career mobility strategy in your organization.

What is Career Mobility?

Career mobility is the strategic and methodical progression of employees, encompassing upward, lateral, or cross-functional transitions within their job roles. For example, an employee switching to a new job, taking on different tasks in their current role or even moving up or down the career ladder within the same company or across related organizations. Career mobility enables employees to explore new opportunities, acquire additional skills (upskill), and contribute their expertise across various functions, which leads to both personal growth and organizational success.

Types of Career Mobility 

Vertical or upward mobility- promotions to higher positions, 

Horizontal or lateral mobility - shifting to different roles at the same level, and 

Role development emphasizes the enhancement of skills and responsibilities within an existing position.

Why is Career Mobility Important?

Career mobility is crucial for various reasons. The way it translates for organization and for employees can be different depending on their expectations. However, there are major benefits for both organization and employees that we have listed down.  

Benefits for Employers

Increased employee retention & reduced turnover cost

Internal career advancement, driven by skilling and training, enhances employee retention by fostering engagement and commitment. This reduces turnover costs, as recruitment, onboarding, and training of new hires are minimized.

Attract the best talent

Companies that offer a well-defined path for learning and development alongside other benefits naturally attract prospective employees seeking career growth. This strategic approach sets companies apart from competitors and allows them to recruit top talent for their teams.

Boost employee engagement

Providing learning opportunities, diverse projects, and career advancement keeps employees motivated, invested, and connected, resulting in higher engagement and job satisfaction.

Build a workforce with improved skills and expertise

Employees who embrace diverse roles and challenges become pivotal to a company's success. Organizations should prioritize dynamic learning through career mobility initiatives and diverse skill-building programs, ensuring a versatile and capable team that contributes to overall success.

Better succession planning

Prioritizing career mobility grooms employees for leadership, creating a diverse talent pipeline, and minimizing leadership gaps for seamless transitions and business continuity.

Benefits for Employees

Personal growth & development

Career mobility facilitates personal growth and career development by enabling employees to acquire new skills, take on diverse challenges, and progress within their chosen career paths, leading to a fulfilling and dynamic professional journey.

Long-term career sustainability

In today's market, regular upskilling and training are essential. Employees who stay current with market demands enjoy better career growth and long-term success, proactively shaping their career trajectories for ongoing relevance and achievement.

Higher earning potential

As employees pursue opportunities within or outside organizations, their earning potential grows through skill development, role advancements, and taking on higher-responsibility positions.

Leadership and management opportunities

As employees navigate diverse roles, they gain a versatile skill set, exposure to various functions, and a deep grasp of organizational dynamics. This experience readies them for leadership, enhancing their communication, strategic, and decision-making abilities.

Just knowing the benefits would not suffice unless you take a step ahead and implement it in practice. Let’s check how you can build a motivated, skilled, and engaged workforce, by implementing a strategic career mobility plan in your organization.

Ways to Foster Career Mobility Within Your Company

• Provide Training and Development Opportunities

The Great Resignation has significantly impacted businesses, necessitating a proactive response. To mitigate its effects and to facilitate enhanced career mobility, companies should provide better training and development opportunities by investing in the right training platform.

Implementing a robust training platform is essential, not only for upskilling or reskilling employees but also for gaining insights into training program proficiency. 

Tools like AI-powered platforms offer the advantages of enhancing employee skills and assessing the training program's effectiveness.

Check how Bajaj Allianz addressed their skilling challenges and achieved remarkable outcomes with Disprz AI-powered skilling platform. 

• Conduct current skills audit 

To guide your employees towards internal mobility, it's crucial to assess whether they possess the required skill set. This involves conducting a skills audit. To gain insights into your employees' existing skill sets, you'll need a learning platform that has the capabilities for effective skills assessment and proficiency evaluation. 

Platforms like Disprz LXP can assist in pinpointing precise skill gaps, automating training programs based on audit results, and offering proficiency level details to facilitate more effective role reallocation for your employees.

Many organizations have already benefited from leveraging the AI-powered Disprz LXP, including Petronas, an oil and gas company with 45,000 employees. Check out how they were able to facilitate an improved learning and skilling experience for their employees. 

• Facilitate skilling resources for an efficient internal mobility program

Acquiring the right skills empowers employees for internal mobility. To upskill effectively, a robust training platform is essential, offering personalized content and learning paths tailored to specific career opportunities. Platforms like Disprz LXP can provide employees with customized modules based on their interests and desired roles. 

For instance, an employee currently in the marketing department wants to shift into a data analytics role. They can use the personalized learning platform to fulfill their goals. This platform tailors their learning journey, starting with foundational courses like data analysis and statistics. As their proficiency grows, the platform dynamically adjusts their path by offering advanced courses in areas like machine learning and database management, ensuring they are well-prepared for internal mobility within the organization.

• Empower Managers with feedback and coaching skills

Offer comprehensive training to managers to equip them with the ability to assess their teams' skill gaps, performance, strengths, and weaknesses. This training enables managers to provide KPI-based coaching to employees. This, in turn, enables them to provide comprehensive 360-degree feedback and assess employees' suitability for new roles and eligibility for internal mobility programs.

• Support continuous learning

Build an environment that encourages continuous learning and growth, motivating employees to continuously improve their skills to stay updated with the latest industry trends and best practices.

Disprz, with its in-depth understanding of the L&D industry, strongly recommends a learning experience platform (LXP), that encompasses various features essential for fostering a continuous learning culture that will help you drive optimal business outcomes and improve your overall business agility. 

Conclusion

Career mobility is not just a trend; it's a fundamental shift in how companies and employees approach growth. By closing skill gaps, fostering adaptability, and encouraging internal movement, career mobility paves the way for companies to thrive in an ever-changing business landscape. As you embark on this journey, remember that Disprz stands as a trusted partner, ready to help you unlock the full potential of career mobility and lead your organization toward a future of sustainable success.

Request a demo today and explore firsthand how Disprz LXP can empower your organization to build a dynamic career mobility program, driving employee growth and fostering overall organizational development.