Career mobility is a key priority for millennial and generation Z employees.
Career mobility (or job mobility) is the process of an employee moving in their career. It can refer to upward or downward movement, as well as movement across to another role within the same business but in a different capacity.
In the past, career mobility was generally associated with employees moving up through a hierarchical structure. More recently, it has evolved to refer to enabling employees to participate in work opportunities that benefit the business and the employee. Career mobility can also include changes to part time or remote working from a full-time role, etc.
Career mobility can be a useful retention tool for businesses. For example, rather than lose a good team member, they can be given the chance to transition to another role in a different part of the business. According to a recent survey by LinkedIn, a high percentage of millennial and generation Z employees would be willing to take a small pay cut in exchange for a role that offered them a better chance of career growth.
While cutting salaries, particularly in the current environment where businesses are competing to attract talented people, is not a good idea, being able to retain employees by offering them the chance to work in a different role at the same business, could be a good staff retention tool.
In addition, being known as a business that offers career mobility could help to enhance your “employer brand” and make your business more attractive to talented employees who, according to the above-mentioned survey, want to work for businesses that offer this.
Career mobility can also be used as a strategy to address challenges such as diversity and inclusion. As businesses step away from rigid career paths and old-fashioned approaches to employment, opportunities for employees have opened up and they can now create the career they want in a way that promotes a healthy work-life balance.