« Codifying the Correlation of Women Directors and Good Stock Performance | Main | 5 Questions On The Need For Role Models in Business »
Monday
Jul302012

Top 10 Reasons To Promote From Within

What is the purpose of working extremely hard everyday at work, being the first one in the office and the last one to leave?  Do you do it hoping your boss will just “notice” all the hard work you are doing and that it will eventually pay off with that big promotion?  It seems that nowadays more people are being recruited from outside the company into higher positions, as opposed to promoting from within. Are you aware that one major difference between men and women is that men tend to ask for promotions, while women don't tend to ask? Rather, women expect to be recognized for their contributions...they expect their astute boss to offer them a promotion in recognition of a job well done. We know that isn’t always the case.  

Here are the Top 10 Reasons for managers to promote from within:

1.  The first and maybe most obvious reason is the employee excels at their current job.  This may be based on objective performance reviews and measurable results.  It is apparent that they consistently perform.

2.  The employee has earned the respect of their coworkers. Someone who is hated or mistrusted by everyone in the office or who just does the bare minimum does NOT deserve a promotion.

3.  The employee is able to analyze situations and come to the table with solutions.  Companies want to promote those who are helpful to them, and are offering deliverable ideas and solutions to issues at the organization.  

4.  The employee cares about the company and has a PASSION for what they do and what the company stands for.  It is easy to tell who at work loves what they do versus those who just go through the motions to get their paycheck.  Those who have the passion will work harder because they ENJOY it.

5.  It helps with team morale if others see their peers being promoted.  The rest of the team will see that their hard work does pay off and they too may be promoted.  Think of it as a motivational tool.

6.  If you aren't offering promotions to your top talent, someone else in another company, such as your competitor just might.  Once that happens, you are very likely to lose that employee.

7.  The company saves on hiring costs.  Retaining more employees saves on the costs of turnover.  Less of the company money will be spent on recruiting and finding new employees. The money can be instead spend on increasing profits.

8.  If a company only promotes from within, top talent will then want to work for that company.  If the company has a reputation of not only retaining employees but also allowing them to climb the corporate ladder, others will flock to apply, knowing that they too can climb to the top.

9.  These employees were obviously hired for a reason to begin with; why not build on the knowledge, skills, and abilities (KSA's) you originally saw in them? They can only improve.  Time is better spent improving the current employees' KSA's as opposed to identifying new employees with "potential."

10.  The longer an employee works at a company the more they know about it.  They know the lay of the land, know all the policies, and even know most of their coworkers.  New employees waste time merely trying to learn the names of their coworkers and getting settled into their new roles.  Those who have worked in the company for a longer period spend their time more productively and actually WORKING.

It is in the company's best interest to get the most return on investment (ROI) possible from each employee. This often means developing them and promoting them into positions that will offer them more autonomy and responsibility so they can do more for the company. 

When assessing the cost/benefit of retaining an otherwise motivated employee who becomes disappointed because they aren't being recognized as a valuable contributor in their current position vs. the cost/benefit of promoting and retaining a highly motivated and engaged employee consider that a promotion can often serve as the catalyst to drive even greater motivation and engagement....not only to the employee who received the promotion but for others, who then see what is possible if they perform well. 

Are you a manager in a company who has been questioning whether to promote one of your current employees versus hiring outside the company? Hopefully the reasons above made your decision a bit easier.

Special thanks to Deb Boelkes, Cheryl Archer, and Deborah Van Huis for sharing insight for this blog post! 

Jacqueline Dandan is the social media coordinator at Business World Rising and a recent college graduate from Loyola Marymount University.  She majored in Business Marketing with a Minor in Spanish, and loves being back in Orange County!

For more information about Business World Rising or how to choose or become a better role model, please contact us today.

Oh, and please like us on Facebook and follow us on Twitter :)

 

 

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.
Member Account Required
You must have a member account on this website in order to post comments. Log in to your account to enable posting. If you do not have an account, register to get one.