There’s no better place to source talented candidates for a role than from within the ranks of your organization. By hiring internally, you’re able to target candidates who you know will thrive in the organization’s culture — because they already are. Internal hiring brings down cost of hire in both the short term and long term.
In the short term, you have immediate and free access to a qualified pool of candidates. In the long term, cost of hire decreases as retention gets bolstered in two ways: 1) internal hires who were already thriving in the culture are more likely to stick around than external candidates, and 2) employees, generally, will be more likely to stick around if they see a path for growth internally.
An internal candidate has already experienced working in your organization, but that does not mean they don’t crave the same types of content that you’re communicating to external candidates. Employees focusing on their day-to-day tasks can easily lose sight of the growth opportunities that exist within the organization.
Share stories of colleagues’ mobility within the organization to give employees a glimpse into the growth opportunities that they can also be taking advantage of. Use team storytelling to show candidates what it’s like to be part of different teams within the company. Remind employees of their shared purpose with the organization and that it’s a place they can feel good about staying at for the long term.