Hiring for a crucial role during a pandemic can be challenging. As HR professionals, we often need to find a suitable candidate to fill a specific highly skilled job position within a tight timeline.
There’s two ways to address this. You can either hire a new employee or internally hire an existing employee for the vacant job position.
Hiring new employees, especially when looking for senior leadership roles can be challenging. Creating a good pipeline of candidates with the right amount of experience and domain expertise can be a cumbersome effort. As the seniority and expertise of a role increase, the talent pool decreases. Further, the entire process of shortlisting the right candidate involves multiple rounds of interviews and negotiation of compensation. This process can take months and hence can pose a challenge for HR teams. The standard expenditure on efficient onboarding a new employee is around $19,000 per employee. And from an economical point of view, onboarding a new leader can be quite tricky and expensive since the role requires them to quickly take ownership and make crucial company budget spend decisions.
Rushing the hiring decision can be an even costlier mistake too. So the scenario truly poses a tough challenge for the HR team
And that’s where internally hiring and crossboarding can be more efficient for your company. Internal hiring and crossboarding can involve recognizing an existing employee on their efforts and rewarding them with a timely opportunity to step up and leverage their leadership. Or perhaps there’s an employee working in a different part of the organization who is interested in working on different projects. Crossboarding can be a timely solution to address this challenge of making the right hiring decisions within a tight timeline.
Let’s look at some of the benefits of crossboarding
Cross boarding is less risky than onboarding a new employee. With cross boarding, the employee has a proven history of working in your company and excelling at their new role. But with a new hire, it often takes several months to completely familiarize oneself with the role and its intricacies.
Cross boarding is less expensive as compared to the new employee onboarding process. The existing employee will need resources only pertaining to the new job position. They’ve already imbibed the company processes, culture, and goals reducing the time investment thus increasing productivity.
Cross boarding a new employee will also increase overall employee engagement. Lack of meaningful work is one of the biggest reasons employees pursue other opportunities. This is an excellent way to ensure that a valued employee who wants to grow can find a multitude of interesting opportunities. This will also boost the morale of the employee enhancing productivity as it replenishes long-term employee’s drive to excel.
Cross boarding can help your organization to boost overall employee retention. As time passes, an employee’s average tenure in a company keeps reducing. We rarely meet employees who spend more than a decade working at a company., Internal hiring and crossboarding can be a great way to help employees create long careers full of growth opportunities.
After deciding to internally hire for a role, it is important to announce the opening to all your employees in internal forums and announcements.
After the right internal candidate is chosen, it is important to give them an amazing crossboarding experience welcoming them to their new role. And at Squadsy, we are always glad to be of help to the HR community by sharing crossboarding tips. We are consistently working on building technical tools for HR professionals that help them in better onboarding and cross boarding.
Get in touch with our team to know more!