Breaking the chains of talent hoarding

Have you ever noticed a manager clinging to their star performers? This common practice, called talent hoarding, might seem harmless at first. But it’s actually a big deal. It stunts growth, stifles innovation, and makes employees feel unappreciated. In this article, we’ll explore the dangers of talent hoarding and show you how to create a culture that empowers your people.

Managers, under pressure to deliver results, might unintentionally restrict their best employees from exploring new opportunities within the company. It’s not about being bad bosses; they just want to keep their teams running smoothly. But Gartner found that over half of supervisors do this! While it might seem like a quick fix, it actually hurts the company in the long run.

The downside of talent hoarding

Imagine a talented employee stuck in the same role, feeling unchallenged and undervalued. That’s what talent hoarding can do. Frustrated employees will look for growth elsewhere, leading to high turnover rates. In fact, only 20% of employees are truly happy at their current jobs.

Not only that, but productivity suffers when talent isn’t used to its full potential. Plus, it creates isolated pockets within the company, hindering collaboration and innovation. Ultimately, talent hoarding hurts managers too. They get a reputation for not supporting their team’s growth, making it harder to attract top talent.

But why do some managers still hoard talent? There’s a reason managers do this. They worry about their team’s performance and meeting goals. The thought of losing a star player can be scary.

Leticia Corona, a human capital expert, explains that managers might be afraid of losing their most productive team members, who help them hit targets and look good. So, they might avoid talking about career development, leaving employees feeling stuck. This might seem logical, but it has serious consequences for the company’s talent pool.

Fostering internal mobility

Here’s some ways to fight talent hoarding and create a culture of growth.

• Internal gig marketplace: Offer a platform where employees can take on short-term projects outside their current roles. This lets them develop new skills without a full-blown job change. Companies like Workday and Google are already doing this with great results.
• Talent calibration conversations: Encourage managers to talk about their team members’ strengths and potential. This can help identify internal opportunities for them to grow.
• Focus on talent development: Leaders need to see themselves as coaches, not just scorekeepers. Their job is to help their people develop, not just hit numbers.

Building a winning internal mobility program

A strong internal mobility program helps unlock your workforce’s potential. By following the tips below, you can create a culture that values growth and empowers your people.

• A skills-first approach: Look beyond job titles and focus on what your employees can actually do. This allows you to match the right skills to the right roles, creating a dynamic internal talent pool.
• Sharing is caring: Encourage managers to share their top talent with other teams. Align their goals with developing talent, so they get rewarded for fostering internal growth.
• AI to the rescue: Consider using AI-powered software to connect employees with internal opportunities. This can help promote continuous learning and development within your company.

Remember, don’t keep your employees chained to their desks. Unlock their potential and watch your company grow!

HRD Connect Curators of the New Business Landscape. HRD Connect produces industry-recognized content for senior HR leaders. Through articles, case studies, Q&As, podcasts, events, and more, we offer truly progressive and cutting-edge insights designed to help people leaders address core HR challenges and add greater value to their business.

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