Enhance Organizational Efficiency with AI-Powered Internal Talent Mobility

The first indications of the long-anticipated worldwide recession are now apparent. The storm includes high inflation rates, increased living expenses, tightening financial conditions, and layoffs in large corporates. However, as global wars and the pandemic's impacts spread fear and uncertainty among the people, it is causing consumers to spend less, which finally leads to a recession. There is no doubt that a time of slower growth is approaching.

Most CEOs are under the burden to create strategies that can mitigate the unprecedented slump. Company leaders around the world are re-evaluating their operational strategies and adopting cost-cutting initiatives. In fact, 56% of the organizations surveyed, according to a recent Mercer report, are concentrating on tightening cost controls as a precaution against the possibility of a recession. Many organizations took the difficult decision of laying off, for instance, Twitter laid off more than 200 employees in February this year while Google’s parent company- Alphabet laid off 12,000 employees from its global workforce in January.

Cost reductions are a top goal for the majority of C-level executives, but this economic crisis is distinct from others that have occurred in the past. Making judgements is made more challenging by the recent experience with high staff attrition rates and worldwide skills shortages. Such challenges in the talent industry call for a skills-based strategy that may illuminate and highlight strategic choices regarding people that can result in cost optimizations.?

It’s Time for Smart Hiring and Smarter Internal Hiring

Sometimes an employee who currently works for your company is the greatest candidate to fill a vacancy. Hiring internally would seem to be the ideal course of action given the reality that most employees desire advancement chances within their organisations. We can better understand an employee's skill level and the measures they need to take to prepare for the next role with the use of talent evaluations and defined career paths. There may be instances where upskilling an inside applicant makes more sense than hiring a new employee, especially when costs and talent shortage are a simultaneous concern.

Internal Talent Mobility- Not Just a Cost Optimization Opportunity, but an Employer Brand Building Opportunity too

Globally known?companies have signalled plans to stop hiring at the end of last year. Other businesses, notably in the tech sector, have already stated they are slashing employees. But the demand for labour continues to?stay?high. Businesses that still experience a talent shortage this year, while still attempting to reduce the costs associated with new hiring, may choose to turn to the best-fit employees already present within the company. With an internal talent marketplace, companies can match available opportunities with internal employees based on their set of talents and interests. It’s a Win-Win for the Organization & Employees with Internal Talent Marketplace by Recruitment Smart. This is not only the best and the most suited cost-optimizing tool for company leaders but has also proven to enhance the employer brand image in the minds of the employees and all the other stakeholders.

The talent mobility solution from SniperAI is your ally in re-discovering applicants and reducing the expense of hiring new employees. We have successfully cut the time it takes to deploy human resources inside the firm by 15%, and we have witnessed a considerable increase in resource managers' productivity for our international clients.

With this tool, SniperAI offers a rare chance to assess individuals personally while taking into account both their interests and skills. In contrast to just assigning people to new responsibilities they can complete, SniperAI helps you place people in positions they actually want to fill.

Redeploy Your Staff Where Your Business Needs Them the Most with Internal Talent Marketplace

In some situations, businesses might prevent layoffs by allocating talent and resources towards their top goals. Recently, the phrase "silent hiring" has also been used to describe this movement of employees within the organisation. This technique simply means that current employees may accept new assignments, join new projects, or take on high-demand jobs or duties as a result of shifting corporate priorities.

In this situation, a skills-based strategy is ideal because it aligns people's special talents with the kinds of jobs where those skills may be used most effectively.

With our industry-leading AI-enabled Internal talent marketplace solution, it has become possible for company leaders to find individuals who are a good fit in terms of skills for available roles and set up the required learning and development pathways to get them ready for the new position. As a result, these firms are able to fill new trending positions and fix skill shortages without incurring the costs associated with layoffs and subsequent new hiring.