Before looking outside your organization for a leader to fill a key role, take a close look at your existing workforce. Not only are current employees familiar with your culture and brand but offering them upward mobility increases your chances of retaining them long-term.
Benefits of Promoting from Within
Promoting from within can be a powerful strategy for organizational growth and stability. Here are some additional benefits of internal promotions.
- Enhanced Employee Retention
Employees are more likely to stay with an organization when they see clear opportunities for career advancement. Promoting from within sends a strong message that the company values and invests in its people, reducing turnover and associated costs.
- Reduced Onboarding Time
Internal candidates already understand the company’s culture, values, and operations. This familiarity significantly reduces the time and resources needed for onboarding and training, allowing them to hit the ground running and contribute immediately.
- Increased Morale and Motivation
When employees witness their peers advancing within the organization, it boosts morale and motivation. They become more engaged, knowing that their hard work and dedication can lead to career growth.
- Cost Efficiency
Recruiting externally can be costly and time-consuming. Promoting from within eliminates many of these expenses, including job advertising, recruitment agency fees and extensive interview processes. Additionally, internal hires often require less training, further reducing costs.
- Knowledge and Skill Retention
Internal candidates bring with them a wealth of institutional knowledge and experience. They understand the company’s history, processes and challenges, enabling them to make more informed decisions and maintain continuity.
- Strengthened Company Culture
Employees who have grown within the company are often strong advocates for its culture and values. Promoting from within helps preserve and strengthen the organizational culture, as these leaders are more likely to uphold and propagate the company’s core principles.
Promoting High-Potential Employees
Sometimes it’s hard to recognize the potential in existing employees when you only see them in the role they currently fill. To help you better recognize employees with high potential, we’ve put together a simple list of characteristics to use as a benchmark.
You’ll notice that these characteristics fall neatly into the acronym “PROMOTE”. This is a good reminder of the action to take when you identify someone on your team who embodies these traits – promote them!
Passionate
Relational
Open to Criticism
Manage Well
Open to Change
Take Ownership
Encourager
Promote Employees With these Characteristics
PASSIONATE
A high-potential employee is excited about the vision of your organization and is eager to see the team succeed. These inspiring individuals possess charisma that motivates others to work toward a common goal.
RELATIONAL
A rising leader should be socially adept at interacting and caring for people. Great leaders are approachable and good listeners. They are viewed as mentors that people naturally want to follow.
OPEN TO CRITICISM
Being receptive to negative feedback is the mark of a good leader. When someone welcomes criticism as a way to improve, it shows maturity and a learner’s spirit. This also allows for a culture of open communication where everyone benefits.
MANAGE WELL
Being able to manage tasks, people and stress well is key to a good leader. These three things are plentiful in the life of a leader and it’s important that the individual is able to find a balance. They must be characterized by being a good delegator, and also someone who can handle the pressure that comes with the job.
OPEN TO CHANGE
Today’s constantly changing world requires a leader that is flexible and agile in their thinking. Yesterday’s problem solvers may not be ideal solutions for today. A high-potential employee can adapt to changes and can effectively guide a team through changes.
TAKE OWNERSHIP
When someone is willing to take on the responsibility of a project or a team, it comes with an expectation of success. Some people don’t want that pressure. However, when you see someone who is willing to step up and take ownership, in the highs and lows, you’ll want to take note.
ENCOURAGER
An individual who is excited about the success of others is the makings of a good leader. They see strengths in others as an asset and not a threat. A true leader is supportive, empowering and motivating. They will encourage others, which is a win for all.
Don’t Forget to Properly Develop Your Promotable Employee
Promoting from within comes with lots of benefits, but it’s important to properly train the employee before promoting them. This is an area that can easily be forgotten because you may assume their track record of success will continue into the new position.
Remember, just because an employee excels in their current role doesn’t mean they possess the skills required for the new leadership position. Conducting thorough assessments and providing targeted development programs can help bridge any gaps and ensure the promoted employee is prepared for their new responsibilities.
In conclusion, if you need a great leader to join your team, don’t overlook the employees who are already on your payroll. Know how to spot them, train them properly and then PROMOTE them to well-deserved leadership positions!
This post was originally published in July 2018 under the title “Is the Leader You Need Hiding in Plain Sight.” It has been updated and expanded in this version to provide additional information.