Shortcuts are standalone items in the Source which when opened will open the item they refer to. Using this option will migrate shortcuts to the target but will ensure that the shortcut is updated to refer to the new target location.  The maximum processing speed of Shortcut Link migration is around 2000-3000 per hour so this should be factored into any migration planning.

The Discovery Statistics panel on the Migration Dashboard displays the number of shortcuts found in the source.  To migrate shortcuts the ‘Links’ content type must be assigned to a target content type.

Note: Microsoft do not recommend the use of shortcuts in SharePoint.