Do you have an open position that you have been trying to fill for ages? You might not have considered that the best candidate is sitting (at a computer) right in front of you. Some of the very best hires are made from promoting within your company. Take a look at these reasons why.
Strengthens Company Culture
You cannot forget just how important company culture is. When you promote from within, you strengthen your company culture and reiterate to your employees what it is you want to stand for. Promoting one of your own shows that you are invested in your own people, which can greatly help with company pride – as well as your retention rates, which again strengthens company culture. Every business expert will tell you how important it is to reward loyalty. If you invest in your employees, you will see that they will also invest in you.
Increases Company Morale
It should be no surprise that promoting from within can be a huge boost to company morale. This not only increases motivation but can also greatly improve productivity. Bringing in someone new and unknown can create feelings of uncertainty and distrust. It can leave employees questioning where the company is going and wondering what their position in the company will be in the future. On the other hand, promoting from within gives employees something to strive for and lets them know that their hard work will be rewarded.
More Adaptable Hires
We cannot forget about logistics. Hiring from within is just plain easier. The transition is much smoother, and you will not have to worry about things like culture shock or the new employee needing to learn from scratch – which also improves retention rates. In addition to a seamless (or near seamless) onboarding process, there is also less risk of the employee being blocked by their teammates, which can be a real concern when you bring in new blood. Perhaps one of the biggest advantages of hiring from within is that the employee already has a certain level of institutional knowledge that they can start applying to the position straight away.
Promote from Within, Help Grow Your Company
When you promote from within, you also open up additional opportunities within your company, allowing employees to rise to the occasion. This is a great way to keep your team striving for the next step in their career, while also staying loyal to your company. The next time you have an open position, consider the talent you have in front of you, first.