course hero what are advantages associated with promoting from within?

Why is it important to promote talent from within?

When an organization promotes from within, no matter the level, employees can see that their input and experience are truly valued. This can also lead to higher retention and engagement throughout the company since employees have room to grow and improve in their careers. It’s also a positive signal to entry-level employees interested in your company that you promote talent from within. In a tight job market, employees have the upper hand, but high morale and solid retention will help keep your organization running smoothly.

Is it easy to start a new job?

Starting any new job isn’t going to be easy, but with the right background, the move will be easier on everyone involved. When you outsource a position, that employee will need to learn the responsibilities of the job, but will also need time to figure out its subtle nuances and learn the organizational structure, as well as build new relationships. But the process doesn’t end there; this new person will also need to get up to speed with the software you use, your internal processes, your specific competitors and even the unspoken rules of the company. This process can have a trickle-down effect, and a long or rough transition can upset other teams, direct reports and even existing or prospective clients.

Is institutional knowledge important to an organization?

Although it shouldn’t be the only factor that’s considered when promoting an individual, years of institutional knowledge through job tenure can be invaluable to an organization. This firsthand experience through the company’s ups and downs cannot be quickly gained by an outside hire and is lost if someone leaves the organization. External hires can certainly provide fresh perspectives to a company, but an employee who has worked in other departments or positions and has the real-life experience to draw upon should not be discounted.