Are You Wasting Time and Money on Recruiting?
The recruiting and hiring process can be particularly competitive, not to mention expensive. In times like these, hiring from within can be an attractive option. In fact, some of the very best hires are often made from promoting within your company. Not to mention, you will experience a range of additional benefits.
The 3 Biggest Benefits of Promoting from Within
Chances are you have at least one position that seems to have been open forever. It does not matter how many job ads you post or how many applicants you bring in for an interview; you just cannot seem to find the perfect fit.
But have you looked right in front of you? The best candidate could already be on your team. There are several benefits realized by promoting from within. In this article, we will go over three of the biggest.
#1: Improve Company Morale
It should be no surprise that promoting from within can be a massive boost to team spirit. Promoting from within not only increases motivation but can also significantly improve productivity. However, bringing in someone new and unknown can create feelings of uncertainty and distrust. It can also leave employees questioning the company’s future and wondering whether or not their position will even be around. On the other hand, promoting from within gives employees something to strive for and lets them know that their hard work is seen and rewarded.
#2: Reinforce Company Values
Company culture is critical. When you promote from within, you reiterate to your employees what it is you stand for. When team members witness one of their own advancing ranks, it can significantly help with company pride. Beyond that, seeing the opportunity for advancement can also help with retention rates. Finally, every business expert will tell you how important it is to reward loyalty. If you invest in your employees, you will see that they will also invest in you.
#3: Simplify the Hiring Process
Hiring from within is just plain easier. You will not have to worry about culture shock or the new employee needing to learn from scratch, thus improving retention rates. In addition to a seamless (or near seamless) onboarding process, there is also less risk of the employee being blocked by their teammates, which can be a genuine concern when bringing in new blood. Perhaps one of the most significant advantages of hiring from within is that the employee already has a certain level of institutional knowledge which they can start applying to the position straight away.
Promoting from within is a great way to keep your team striving for the next step in their career while also staying loyal to your company. So the next time you have an open position, consider the talent you have in front of you first.
*Not all articles are original works of Vincent Scaramuzzo or Ed-Exec, Inc.*
Vincent Scaramuzzo is the President of Ed-Exec, Inc. A leading Education Executive Search Firm. He is also a contributing author to various education publications regarding education recruiting. As a specialist in the education field for over 18yrs., Scaramuzzo works nationally. He can be contacted at vincent@ed-exec.com (860)-781-7641.