SHL-Lighthouse Report reveals why Career Mobility is key to benefiting from the trillion-dollar global economic growth curve
LONDON: SHL, the global leader in people science and technology, recently sponsored a report by Lighthouse Research and Advisory that reveals how career mobility can be the key to turning the great resignation into the great retention.
According to the report, 88% of employees would stay at a job longer if there were career development opportunities. It also found that high performing businesses are 30% more likely to emphasize the importance of talent mobility so that everyone takes an active role in career development responsibilities.
"You and I know the truth behind the question, who owns career mobility? Every single one of us: Employees must take the initiative, managers must provide resources and guidance, HR/training must develop policies to support the employees and most importantly, executives must embrace a culture of growth," said Erin Crask, Solutions Architect at SHL.
The study also revealed that talent mobility can help companies tap into the trillions in GDP growth coming in the next 25 years.
"Research shows that as the world's population grows, consumer demand grows, and the global GDP will increase to approximately three times its current size. This means greater demand for workers and performance, and the best way to get value from the workforce is to engage them. The real heart of engagement based on a wide variety of studies is career development and mobility," said Ben Eubanks, Chief Research Officer at Lighthouse.
In a world where talent is scarce, tapping into existing and qualified talent is a brilliant move and can be the right first step towards great retention.
Read the complete report here.
