One of the key considerations in making personnel decisions is whether to develop talent in-house or hire externally. A hallmark advantage of promoting from within is the employee’s built-in organizational knowledge, encompassing culture, processes, relationships and more. But these decisions should be based on merit, not convenience or onus, and are best made when a deliberate, long-term strategy is formed and then equitably applied.
That said, consider these best practices when creating paths for promotion and advancement within your organization. Determine if and when this strategy is appropriate.
Establishing paths for advancement encourages dedication, increases retention, and improves morale, but this strategy doesn’t necessarily work for every position, or every organization, for that matter. A company that is struggling or trying to break into a new market, for example, is likely to benefit from external hires.
Some of the key indicators that an organization is suited to putting promotion paths in place include: Business is thriving (build on existing strengths)
There is a need for, and variety of, skill-specific positions
Management is equipped to sustain a continuous cycle comprising planning efforts and performance reviews
The organization has a deep-seated history or culture that may be difficult to infiltrate Gauging anticipated talent needs with your leadership team should be a routine part of business operations. For the sake of frequency, consider making this a staple during quarterly business reviews. Define promotion paths early. Make it known that your company prioritizes, values, and actively promotes career development by carving out promotion paths with […]
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