Internal hiring up 20% since COVID-19
Companies are increasingly looking inwards for talent since the outbreak of coronavirus, according to new data from LinkedIn.
Internal hiring was up 20% between April and August 2020 in the UK compared to the same period last year.
This trend is also being echoed in countries around the world with Germany (25%), Singapore (21%) and Mexico (20%) all hiring internally at a higher rate than the global average (19.6%).
The report stated that due to the pandemic and continued uncertainty, many companies have been unable to hire new talent from outside their business at the same pace as before.
Janine Chamberlin, senior director at LinkedIn, said: “The continued uncertainty around COVID-19 has meant that many companies are looking to tap existing employees for new opportunities within their organisations.
“This presents excellent internal mobility and professional development opportunities for individuals who want to learn new skills, gain a different experience and progress within their company.”
The top roles in the UK for internal mobility were account director, programme manager and product manager.
The top functions were product management, finance and marketing, with hardware and networking, energy and finance the most popular sectors.
Nearly a third (31%) of UK business leaders said they are focused on giving employees the opportunity to move into different roles internally in the next six months.
A further 32% said that reskilling and upskilling employees is a top priority for 2021, and 34% want to create a culture of learning to help employees develop the skills needed for the future.
Chamberlin added: “Encouraging internal mobility not only boosts retention and improves employee engagement, but can also help companies evolve their businesses from within and bridge any existing skills gaps.
“To ensure employees are set-up for success and have the skills to support career transitions, reskilling and upskilling initiatives are vital and HR professionals will play a pivotal role in facilitating this.”