25 Jan Why Promoting from Within is Better for Your Business Over Hiring.
A growing business is an exciting and rewarding time for everyone. As your company grows your staff
typically needs to grow to keep pace with the workload demands. This leaves business owners and
managers with the ever challenging decision of promoting within or hiring.
At Pegasus, we believe that promoting from within brings many benefits over hiring from the outside.
Now there are always exceptions to the rule, but here are some examples of why we look to develop
and advance internally.
When employees see their fellow teammates working hard and being rewarded with
advancements in the company it gives them the incentive to excel too. This shows the
leadership is paying attention and are prepared to act.
2. Less of a learning curve.
Current employees are already knowledgeable of company policies, procedures and
company culture. They also typically have created lasting relationships with others in the
organization. These are key advantages to assuring they are successful in their new role by
reducing the training time costs, as well as providing emotional support from peers.
3. Creates loyalty.
Employees that see an opportunity for growth, whether financial, professionally or both
through advancement, generally are more inclined to stick through the tougher times. If the
bonus wasn’t as much as anticipated, the days were long for a stretch of time or they are just
having a few bad days at the office, knowing they are recognized and will continue to be for
their efforts reassures them of their value and opportunity at the company.
4. You hired them for a reason.
At one point in time you did interview them and hired them for their accomplishments,
expertise, attitude or whatever convinced you they were the right one for the position.
Why not build on the attributes you saw in them? They will only improve as opposed to
the arduous task for looking for someone new with “potential”.
It is in the company’s best interest to always look inward to promote a current employee to get the
most out of any employee while letting them grow into positions that will provide them self-worth and
responsibilities, so they can do more for the company. If you are willing to invest into you employees,
they will invest in you and you can both benefit from the results.