Is It Better to Always Promote from Within Your Business?

Business team discussing together business plansIt’s impossible to offer you clients or customers the very best if you don’t have the very best employees working in optimal positions in your business. One of the best ways to go about strengthening your company from the ground up, is to promote from within.

If you can create a company culture around rewarding hard work, and offering advancement to those who deserve it, then your business will surely grow into a powerhouse.

Advantages of Promoting from Within

When you promote from within, there are a variety of incredible benefits including:

  • Encouraging current employees to be more productive. A chance to climb the ladder will help motivate workers to do their best.
  • Attracting top talent when you do hire new people. The best applicants will want to see that there is room for advancement in your business.
  • Building loyalty among employees. When it comes to business, there are very few assets more valuable than a motivated and loyal employee.
  • Making positive impressions on your customers. Customers appreciate that you reward hard-working employees almost as much as the employees themselves.

When Should I Hire Outside the Company?

As many benefits as promoting from within may offer, there are a few situations when it may still be advisable to hire someone new, including:

  • When you need someone that specifically matches a skill set that your current employees simply don’t line up with.
  • Hiring from outside can also serve to motivate current employees in some situations.
  • It may be impossible to take employees out of their current positions without hindering the company.

No matter how you fill a position, either by promoting from within or making a new hire, it’s important that you create an environment that is conducive for advancement if you want to get the best out of your employees or attract the best applicants.

The business attorneys at Garland & Mason, LLC have been assisting business owners in Monmouth County for years, and are proud to be a part of their lasting success.



Tags:

2 Responses to Is It Better to Always Promote from Within Your Business?

  1. Janet Canedo says:

    I believe in always doing both, interviewing new people from the outside and also looking within and making the best decision from there. I think if one is always promoting from within you are missing out on major talent from the outside talent pool –

    • Gary Mason says:

      Absolutely! Keeping all of your options open and selecting the best people for the job, regardless of where you find them, is always the best business practice.

Leave a Reply

Your email address will not be published. Required fields are marked *