PODCAST:Working It
TITLE:Your best new hire may already be on staff
DATE:2024-01-16 00:00:00
URL:
MODEL:gpt-4-gizmo
In this episode of "Working It" from the Financial Times, dated January 16, 2024, the podcast explores the benefits of internal hiring compared to recruiting external candidates for job vacancies. Key points of the episode include:
Josh Berson's Insights: Josh Berson, who runs a company providing research and advisory services for HR teams, argues that developing internal talent should be part of a company's growth strategy. He presents evidence that companies focusing on internal mobility perform better financially and build more effective general managers.
External Hiring Bias: The episode discusses why companies often prefer hiring externally, attributing it to the perception of acquiring ready-made skills and a natural bias towards novelty. It points out that internal hiring requires more creative thinking and a good understanding of the existing workforce's skills.
Benefits of Internal Development: Josh Berson highlights that internal development not only saves money but also improves overall company performance. He cites examples of companies that successfully implement internal mobility and career pathways, like Unilever, MetLife, and Schneider Electric.
Challenges of Internal Recruitment: The podcast acknowledges the difficulties of internal hiring, such as potentially leaving another vacancy in the company, missing out on new perspectives, and the uncertainty of success in new roles for internal candidates.
Employee Responsibility for Skill Development: Bethan Staten, FT's Deputy Work and Careers Editor, discusses the trend where employees are encouraged to reskill themselves. She emphasizes the importance of employers supporting skill development and aligning it with workplace needs.
Current Hiring Trends: The podcast touches on current hiring trends, noting a shift towards recruiting people who are already employed rather than reducing unemployment. This trend reflects employers' preference for experienced candidates over investing in developing less experienced internal staff.
Advice for Managers and Employees: The episode advises managers to be open-minded about the potential of internal candidates and maintain rigorous evaluation processes. It also encourages employees to engage in skill development discussions with their employers.
Overall, the episode "Your best new hire may already be on staff" advocates for a balanced approach to hiring, emphasizing the often-overlooked benefits of nurturing and promoting internal talent within an organization.
