How employers can fill their talent pipeline from within.
Instead of layoffs, invest in modern career pathing and an internal talent marketplace to fill your talent pipeline from within.
Economic uncertainty and a potential recession are driving businesses to plan worker layoffs. A recent survey by KPMG found that more than half of U.S. CEOs would reduce headcount in the near term to help manage through the downturn.1 At the same time, a labor shortage persists, with November 2022 marking the 18th straight month of more than 4 million U.S. employees quitting their jobs.2 During these times, it is more important than ever for your company to retain and invest in existing talent.
Modern career pathing, along with a technology-enabled internal talent marketplace is essential to developing employees and addressing your talent pipeline. Career pathing can help you drive a better employee experience, improve profitability, and build an agile workforce of the future. A talent marketplace prioritizes internal candidates—saving your company time and money on onboarding and related costs.
Career pathing can help your organization increase your overall profitability through various employee development and retention methods. Some examples:
A talent marketplace can support your workers’ internal career mobility and help create the agile workforce you need to meet future business demands. Technology enables the talent marketplace to match employees with jobs based on skills. Empowered employees can then expand their skill sets and grow their careers within your organization.
Companies that don’t offer a proven internal career mobility program don’t retain employees as long as organizations with stronger programs. Upskilling talent is critical to retaining employees and building their resilience so your organization can navigate future business demands.
Elevate your employee’s development and experience by matching them to projects, gigs, and mentorships that help improve productivity gains and adapt them for future needs. We use human capital technology that can enable you to access real-time employee skills and performance data so you can meet urgent staffing needs, increase employee engagement and support retention. Our services include:
Retaining talent and driving workforce agility within your organization is more important than ever. KPMG Human Capital Advisory professionals can help your company achieve this by creating and fostering a high-performance culture. Contact us to learn how you can provide employees with the right training, growth opportunities, and job satisfaction so they succeed in a dynamic future environment.
Clearing the career path: How employers can fill their talent pipeline from withinDownload PDF