You Should Consider Internal Promotions and These are Their Benefits
At Fuze HR, we know how important finding the right talent is. That’s why when it comes to our talent acquisition, we place a lot of importance on internal promotions from within the organization. This rings especially true when the candidate market is as competitive as it is right now! Below, we listed some of our top reasons for internal promotions from within.
1) Internal promotions keep productivity high
Productivity is a huge driver of success and offering employees the opportunity for promotion is a great way to improve and maintain that productivity. When you offer your employees the chance to grow within the organization, they are more likely to participate in training and educational opportunities, internal committees and any organizational offerings that could improve their chances of promotion. They are more focused on the quality of their work and the potential for growth than looking for their next job. This in turn creates less risk, because you don’t need to chance it on new hires. You already know the qualities, work ethic and characteristics of the individual you are promoting, and you are more likely to place them in a role that is right for them.
2) Create brand loyalty
Building off what from point one, by giving your employees the opportunity for growth, you’ll reinforce a culture of brand loyalty. Promoting from within lets your employees know that hard work pays off, which boosts morale and drives their growth, along with yours.
3) Retain a team of top talent
Another important factor when considering why to promote from within is that it helps with the retention and motivation of your top talent. Top performers are looking for opportunities to grow and further develop their career, by offering them the opportunity to do that within your organization, you will undoubtedly increase your chances of retaining them.
4) Better organizational understanding
Finally, when you promote from within, you are almost guaranteeing a “good fit.” Granted you’ve done the work to prepare this individual for the promotion, you’ll benefit from the fact your employees already know and embody your organization’s culture and core values. They are familiar with the history of the organizations, and they likely have mentors and relationships within the organization to build on and rely on for assistance. Ultimately, you are reinforcing the success of the individual and the organization.
When reflecting on the benefits of hiring from within listed above, it’s also a good time to think about whether you are currently offering your employees what they are looking for in a long-term work environment. From the actual work to the benefits and social engagement you provide, offering an environment that fits the needs and wants of your staff can help minimize turnover, and keep your top performers retained in the long term.