How to Design an Internal Talent Marketplace | Harvard Business Review

Talent Development

Internal mobility is a critical component of a talent strategy. And according to an Extraordinary Women on Boards and i4cp survey, corporate boards of directors are increasingly interested in understanding the internal mobility rate of their organizations. The survey found that internal mobility rate — the degree to which employees move throughout an organization (lateral moves, promotions, transfers, etc.)— ranked number two of the top 10 talent and workforce data sources that boards want to receive but that are not shared with them. As organizations strengthen their internal mobility practices, many are turning to the internal talent marketplace (ITM)—usually, an AI-enabled platform that helps match employees (and their skills) to opportunities in their organization. This new HBR article provides ideas for implementing an ITM and covers topics such as determining what ITM data to leverage and how to incentivize participation. I believe one of the most overlooked success factors of an ITM are the non-tech components. Far too often, firms approach an ITM as a technology initiative and lose sight of the non-technological barriers that detract from ITM (e.g.policies that restrict internal movement (e.g., the employee must be in a role for a certain amount of time before moving to another internal role or opportunity), talent hoarding—where managers intentionally or subconsciously attempt to retain their best employees to the detriment of the employee’s personal development and what’s best for the company). With this as the backdrop, I am resharing this one-page reference I created that includes 6 non-technological barriers to internal mobility. There are other barriers, but this list of 6 will get you started.