Turns out, just by tweaking what people are responsible for, you could be looking at 3x or even more value coming from them. It's all about finding those hidden skills and letting them shine in different ways.
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Studies show that when people's skills match their roles, they're way more engaged and productive. Gallup says highly engaged teams can see a 21% increase in profitability. And it's not just about new hires – strategically moving people around internally can boost engagement. Companies with high engagement see an 81% decrease in absenteeism and a 14% jump in productivity (WellSteps).
Plus, thinking inside the box with your talent is way cheaper than always looking outside. Replacing someone can cost upwards of 150% of their salary (EZRA Coaching). But companies that let people grow internally have much higher employee retention rates (Edstellar, Nestor). People stay when they see chances to learn and do new things within the company.
Being smart about your team also helps you handle change and fill skill gaps without the hassle and cost of hiring externally. A LinkedIn report found that almost 25% of employees feel their skills aren't fully used, making them 10x more likely to look for a new job. Smart moves with your workforce make your company more agile, letting you quickly put people where they're needed most (Coursera).
Think about all those "hidden workers" – people with skills you might not even know about (AIHR, Harvard Business School). By finding those untapped skills and using them, you gain a real edge. And when you give people chances to learn and grow as part of these internal moves, engagement skyrockets – 80% of people feel more engaged when learning new skills (People Managing People).
Bottom line? You've got people with untapped potential just waiting to be unleashed. By strategically moving them into roles that light them up and use their full skillset, you're not just making them happier – you're unlocking a ton of hidden value for your company. And who doesn't want that?