Top 5 Reasons To Promote From Within
Looking to fill a new position? Need someone real fast? Do you really have the time and money to train someone? Well the a new article from the Wall Street Journal mentions the research that shows that new hires get paid up to 20% more and have lower performance than their “promoted from within” counter parts. So we could say the first two reasons to promote are money and job performance. One way to look at hiring from within is, would you be able to find someone to replace yourself easily? Would the “new you” need time to understand the culture and business methods? Or would you rather just keep the old you and get some training to help yourself do a better job?
Hiring from within will also boost morale within your other employees, job satisfaction is a big part of keeping employees. More people report leaving a job for lack of interest than lack of pay, after all the pay was the same the week before they quit. Making sure the employees can look forward to a future in your business is the best way to keep you top workers. This will be reason number 3, hiring from within boosts morale.
The forth reason to hire from within is worker retention. New hires will have a greater chance of leaving and taking with them the training they’ve got. This is always hard to deal with, since you will have to hire someone else to fill their place and go through the same training and break in period. Mean while the “Non-promoted” employee watches and wonders how much longer they will stay and be passed over.
Now the 5th reason to hire from within will make your business the preferred employer. Having a work place where you and your employees feel safe, comfortable and enjoy spending time is the reason you started your business. Most business owners could work for someone else and get paid a good income. Having a business is more than a job for businesses owners, you included. Making sure you work environment is setup to make everyone feel good they decided to be a part of the organization is an important part of living a happy and successful life. Make you life a little more rewarding and help the people you know best, to grow and succeed.
- The Impact of Motivation on the Employees’ Performance (thinkingbookworm.typepad.com)
- The Impact of Human Resource Practices on Job Satisfaction and Performance (thinkingbookworm.typepad.com)
- Companies Prefer To Pay New Hires More Money To Do Less Work (businessinsider.com)
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