3 Key Steps for Effective Talent Mobility Strategy

1. Strategic Alignment: Connecting Mobility to Organisational Goals

Organisations must lock down talent mobility functions that align with broader business strategies. This strategic alignment of mobility with overall strategy is necessary for enhanced overall performance. By integrating mobility into the core organisational strategy, companies can deal with talent shortages and respond to changing market demands from a position of security vs. being caught unaware and having to scramble for solutions. Companies with strong mobility functions are 1.7x more likely to grow and improve operations than those who consider mobility as nice-to-have instead of must-have.

2. Talent Linkage: Attracting, Retaining, and Developing Talent

Finding and keeping the best employees is the holy grail for companies. The survey reveals that only 52% of employers find it easy to source the global talent needed to meet their business needs, with 74% reporting that it takes more than a year to fill senior roles. Structured talent mobility programmes should be as essential to businesses as Wi-Fi. To support organisational needs, it doesn’t get more fundamental than having the right people, in the right place, at the right time.

A strategic mobility programme supports organisational strategy and needs and can enhance the employee experience. Part of an attractive culture is providing your people with access to opportunities. When employees see a clear path for career growth and personal development, they are more likely to stay engaged and committed. A strong mobility programme opens multiple avenues for career progression and promotion. Where staff see themselves in five years should have a range of potential answers across position, responsibilities, and geography.

3. Succession Planning: Preparing for the Future

Succession is about planning for what’s next. Beyond filling positions, it’s about strategic placement of the right talent to drive the organisations forward. Talent mobility plays a critical role in effective workforce planning by proactively identifying and developing internal candidates for future leadership and key roles.

By enabling and supporting employees in moving across function and location, organisations can gain deeper insight into capabilities, readiness, and potential. Succession planning including a mobility strategy leads to stronger leadership pipelines and greater employee engagement and retention.

With 85% of employers acknowledging that mobility assignments can be life-changing for employees, proactive succession planning is a win-win. Employee benefits are immediate and organisational benefits endure.

This thinking-ahead strategy reduces the uncertainty and risk caused by unexpected staff departures. Like having a backup generator when the power goes out, companies can make sure they are prepared for the unexpected.

Benefits to employers:

• Leadership Pipeline: Provides future leaders with global insight, professional networks, and diverse organisational experience.
• Talent Retention: Increases employee loyalty and reduces turnover costs. With September’s unemployment rate of 4.7%² as one of the lowest in 24 years, retaining and nurturing talent is more important than ever.
• Cost of replacement: Experts estimate that the cost of a lost employee is anywhere from 1.5-2.0 times an employee's annual salary.³
• Enhanced Performance: Employees with diverse experiences contribute to improved productivity and innovation.
• Organisational Agility: Equips organisations with a globally mobile, engaged, and adaptive workforce that can quickly pivot to meet changing business needs and market conditions.
• Integration & Connection: Develops global networks, cultural integration and embeds values and behaviours.

Benefits for employees:

• Career Advancement: Opportunities for promotions and new roles enhance career growth.
• Skill Enhancement: Exposure to different roles and environments helps develop new skills.
• Broadened Experience: Gaining diverse experiences increases adaptability.
• Networking Opportunities: Mobility allows employees to build a wider professional network.
• Increased Job Satisfaction: New challenges and environments can lead to greater job fulfilment.

Conclusion: A Path Forward

The EY Mobility Reimagined Survey highlights the importance of these three themes in building a strong and resilient talent strategy. By focusing on succession planning, enhancing talent linkage, and ensuring strategic alignment, organisations can position themselves for success within an exceptionally competitive talent pool. Embracing these principles will help companies attract and retain top talent, leading to a more agile and capable workforce ready for future challenges.