A Company’s Promotion from Within: Pros and Cons
Some executives worry that individuals from outside may destroy their company’s culture. Therefore, the promotion is aimed at employees who feel the company’s philosophy and perform their duties flawlessly since they have been fulfilling them for a long time. Thus, the main advantages are the loyalty of employees worthy of a promotion and stability in the company’s development. The positive side of promoting from within is that it can be beneficial for “succession planning, creating organizational culture, decreasing costs, and increasing employee engagement.” Additionally, promotion from within does not cause as much disagreement as if it were a freshman since all employees know each other well and are always in each other’s sights. Each employee’s performance can be tracked and given an honest assessment of whether they are worthy of a promotion or not.
However, the lack of recruiting new people to the company can stall its progress. Quite often, many young individuals who want to get into the company have a fresh perspective and can offer original and progressive ideas. Taking away from the company the opportunity to develop for the sake of preserving traditions is a relatively scarce and outdated approach. Moreover, any company will need to renew its workforce. Eventually, many longtime employees will make choices in favor of their family, health, and other essential responsibilities, and promotion may not interest them much. Thereby, recruiting new people and considering employees’ aspirations seem to be the fairest and most efficient strategy. While it is the desired condition for many applicants, it is essential to take into account all pros, cons, and consequences of promoting from within.