When a role opens up at your company, do you consider internal candidates to fill it? As time to fill, cost per hire, and—by extension—the cost of a bid hire continue to rise, talent acquisition professionals need to consider all possible talent pools. But there are three key reasons to pay particular attention to internal recruitment.
Internal candidates are already pre-screened
The biggest advantage to internal recruitment is that your candidates have already been thoroughly vetted—by their current managers. You know whether they’re a good culture-fit, what they’re capable of doing, and where they may come up short. You can verify their successes and failures in their most recent role without trying to navigate a vague reference check from a past employer. What’s more, internal candidates have already pre-screened your organization, too. There’s no need to worry about whether they’ll respond to your outreach, and you won’t have to sell them on why they should consider your company as a place to work.
Succession planning can mitigate the talent shortage and skills gap
Forty six percent of talent leaders said one of their company’s biggest obstacles to attracting top talent was finding candidates in high demand talent pools. There simply aren’t enough highly skilled candidates to go around, and talent acquisition professionals are struggling to find and engage the talent they need. To mitigate this situation, focus on recruiting high-potential culture-fit candidates—particularly with entry-level talent. Create career paths and succession plans that take into account your employee’s goals and your future needs, and train employees on the skills they need to succeed. This is a long-term strategy but, down the line, you will have the skilled internal talent you need to fill your roles.
Professional development creates happy employees who stay
Training and promoting employees can also help you retain them. Employees with a clear career path know they have a future at your organization, and won’t be as motivated to pursue other opportunities. This should mean fewer positions to backfill overall, so you can focus your recruitment efforts on helping your organization grow. As an added bonus, retaining talent also means retaining the vast knowledge they’ve amassed at your organization. That way, the employees you promote are available to help onboard and support their replacements—and the rest of the team.
Internal recruitment certainly isn’t a new idea, but it’s not frequently used. Hiring managers and recruiters often find that internal candidates simply don’t have the required skills to be successful in the role. That’s why it’s crucial that it goes hand-in-hand with career development, succession planning, and employee development. There’s a skills shortage—whether you’re hiring internally or externally—and your organization can be part of your own solution to that problem. Of course, there won’t always be an internal candidate for every given position—but that can be a good thing, too. External candidates bring in new perspectives and fresh ideas. To be sure that you’re hiring the best candidate for your role, consider both internal and external candidates.