April 2022 HR Lineup

HR L I NEUP APR I L 202 2

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is often of the essence, and internal talent is faster to hire. And there is far less risk of a “no show” after an offer is accepted! Internal Talent can hit the ground running Don’t underestimate the time it can take for an external hire to adapt to a new com- pany culture. Research 2 shows that, on aver- age, outside hires take longer to perform as well as internal hires in the same job. Not only do internal hires already under- stand and know how to navigate the ABB culture, they also know most of the compa- ny’s policies and procedures, how to use the IT systems, etc. They may also already know teammembers across the company, and their established network can make them resourceful and cover for any initial competency gaps. Internal Talent may perform better According to Gartner 1 , managers also report that internal hires perform better than externals across a range of mea- sures, like collaboration and meeting expectations, which can add up to 10% fewer regretted hiring decisions. In some instances, internal candidates may not come ready with all the skills you need, but what they do have is a track record of success within our company, and they are motivated to work hard to maintain their reputation and succeed. Conversely, hiring experienced external talent who may be overqualified for the job could backfire. Even if they perform well in the short term, someone who is not stretched or learning from their job won’t stay motivated or stick around for long before they are looking for their next move. Both hiring managers and internal candidates learn through the interview process Interviewing a significant number of inter- nal candidates can feel like a considerable investment of time, but like any invest- ment, it can reap the rewards. Even though

you will not hire everyone you interview, by keeping an open mind, you can learn a lot about what is going on in other parts of the company, assess how attractive your department is, influence and build a future pipeline of talent. For unsuccessful internal candidates, the feedback they receive from you as the hiring manager is a rich source of learning and guided development. Hopefully, it can provide very tangible and constructive steps for them to work on, to be ready next time an opportunity arises. Make the most of the Open Job Market by keeping an open mind and welcoming inter- nal candidates in the recruitment process. You just might find your next star peformer!

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Building a Vibrant Internal Labor Market (Gartner, 14 Nov 2018) Your Approach to Hiring Is All Wrong (Harvard Busi- ness Review, May-Jun 2019)

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