It’s human nature to enjoy a sense of achievement and your talent is no exception to this. The potential for promotion and being recognised for the role your teams play within your organisation is a likely part of what motivates your employees to do their best.
Promotion from within the organisation brings benefits that can impact employee engagement, morale, and productivity. It’s also a helpful tool for tackling absenteeism and reducing employee attrition.
Developing your talent so that you can promote from within keeps learning curves shorter, which accelerates productivity because newly promoted employees are already familiar with company culture and management. It also helps to ensure that customer experience is more seamless as there is less disruption, as they are already acquainted with the organisation’s processes and systems.
When individuals see the well-deserved promotion of a peer, they also see that possibility in their own careers and experience a feeling of greater job security knowing that their efforts will be recognised and rewarded. Likewise, there is an internal promotion it drives an increased sense of belonging to the organisation, as well as a renewed drive to succeed. When an employee’s contribution is valued, it increases the motivation to improve performance, and accelerates the drive towards an organisation’s goals.
It is also true that employee promotion plays a large part in employee retention. The opportunity to move up the ladder is a strong incentive to work hard, develop new skills and stay in place as a successful team member.
All these benefits help your organisation leverage the most out of investment in growing employee skills and knowledge. Equipping employees with the continual learning and skillsets to ensure they can keep evolving helps avoid talent drain and keeps your most valuable assets advancing up the management ladder for higher returns on your training investment.