Internal job market
What is internal job market?
The internal job market is a system for hiring employees within the organization’s talent pool to fill vacant positions and provide employees with career growth opportunities.
What are the advantages of the internal job market?
Creating an internal job market lowers the level of risk for high organizational employee turnover. HR leaders hiring internally know employees well and know how they perform in their respective roles. This means HR leaders know what to expect from employees. The cost of onboarding and background checks is eliminated. And with an internal job market, employees can expect to grow and prosper in their careers within the organization. Hiring internally means employees will be more loyal as they know they can grow within the organization.
Why do you need an internal job market?
The main reason for the internal job market is to learn about the strengths and weaknesses of existing employees.