If you want to build a robust and committed team, make sure you are taking advantage of the knowledge, skills, and experience that you already have on board. By promoting from within, you inspire your team members to do their jobs effectively, to grow with your company and to stay put. Of course, you’ll also save money by not having the expenses of onboarding and training new hires – bonus!
When you hire someone from the outside, you take the risk on a person who doesn’t know your products, processes, and people. As your current employees keep watching their leadership team hire externally for jobs, they know they could do just as well – or better, your current employees may begin to wonder why they continue to work for a company that does not appreciate the unique skills and insight the organization already has in-house.
The other problem with external hiring is that there is no established relationship with the person to whom they will be reporting. Think about the potential adverse reaction when some “newbie” walks in “off the street” and immediately starts calling the shots, without fully being up to speed on the corporate culture, personalities, and ways of doing business. Resentment may start to happen, and your newly minted leader could quickly turn into a hiring “fail.”
When you fill your positions with people whom others in the company know, like and trust, it inspires a sense of community and also reduces any resistance workers may feel about taking orders from someone who doesn’t know the organization.
How do you determine if a promotion is a good idea? Ask. Sit down with each employee to define their career goals and where they see themselves in your organization. If they say, “I want your job,” figure out a way to help them get it. What skills do they need to acquire? Can you start delegating specific tasks to help them prepare? By grooming your potential replacement, it will be easier for you to move up in the company, and you’ll encourage your team member to stay.
Employees who want to advance in their career will either do it with your company or someone else’s. Turnover is expensive – costing up to four times an annual salary for your management team. If you want to keep your top talent from becoming someone else’s, create reasons for them to stay.
Here are three ideas to retain your top talent:
- Offer professional development opportunities to everyone. Those who take you up on it may be your emerging leaders.
- Train your new managers. Promoting your best salesperson without proper training may create your worst new manager.
- Empower your employees to do their job in the best way they see fit. Watch to see how they handle their responsibilities and coach them as needed.
Promoting from within creates a strong foundation of loyal employees who will go the extra mile for you. Want to learn more engagement strategies? Visit www.lisaryanspeaks.com
