A promotion is not only good for staff members, it is also beneficial for the company and its leaders: When a business promotes internally, it supports the morale of all staff members; boosting productivity and ultimately, profitability.
Internal promotions also help increase employee retention and serve to groom future leaders. Employees are much more likely to stick with a company if they feel their performance will be rewarded with a promotion. For companies, grooming future leaders from within is a much more cost-effective and beneficial approach than having to rely on outside candidates to fill open leadership positions.
Determining if an employee is ready for promotion can be a difficult task, however. Not all staff members may be ready for a promotion at any given time, possibly because of performance issues or a lack of the necessary abilities and experience to make the leap to a given position. A promotion is a crucial decision since it doesn’t only involve improvement in rank but also more obligation. Therefore, the decision to promote should be made after careful assessment of many factors.
Consider the following three questions to ask yourself when considering a current employee for promotion.
Has this person provided significant long-term value to the company?
The most essential consideration for promoting any employee is how much they have already given to the company. If they have been doing an above-average job, the performance should merit a promotion. In addition to performance, it’s also important to consider the person’s overall abilities, including both technical and interpersonal soft skills. Someone with all kinds of technical ability may not be ideal for a promotion if they can’t work well with others or communicate effectively.
Length of tenure should also be considered. If you’re promoting relatively new employees over people who have been with the company for decades, you must be able to justify your decision.
Can they succeed in the new role?
If the promotion will involve taking on new and very different duties, you should assess the candidate’s potential to handle those new responsibilities. Some people can excel in a technical role, but don’t have the soft skills to lead a team of employees.
You should also consider their potential for a long-term future with the company.
Is the timing appropriate?
Except in the rarest of situations, a recent graduate shouldn’t come into a company and quickly rise through the ranks. Many parts of any job are simply learned through time, especially the ability to handle tricky problems. Employees should “bank” a sufficient amount of experience in a given position, so they can carry that experience with them when they get promoted.
Also, it may sound old-fashioned, but there is still a sense that people need to ‘pay their dues’ before they get promoted. If you go against this workplace norm, you run the risk of stoking animosity among your employees.
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