The benefits of promoting from within your company are a popular topic today, even more so than in previous years. It’s true, you can find candidates from outside your company who are qualified and could be a great fit. However, there are compelling reasons you should encourage promotions within the company instead.
Reasons to Promote From Within:
You will save money.
Hiring from the outside is more expensive, not only with the salary, but you also have to consider the possibilities of moving expenses and other transfer costs that might be associated with your outside hire.
Onboarding takes time and money.
An outsider has to learn your company’s processes and procedures and will have to adjust to company culture and relationships to fit in. During this time of learning the ropes, they won’t be as productive as a person you promoted from within your company. In fact, studies show it could take nearly two years for your outside hire to become adjusted.
Outside hires receive lower evaluation scores.
Unfortunately, that outside hire you bring on the team is likely to underperform when it comes to evaluation standards. This could be attributed to the onboarding issue in addition to the stresses that a new job transition bring.
Create a Culture of Promotion
It can be hard to create a good pipeline of internal candidates to meet your company’s needs. If you are interested in strengthening your workplace to allow for promotions within your company, contact Integrity Staffing. We can help you get the best workers from the start. Plus, we can help you cultivate motivation for internal promotion opportunities.