When it comes to filling a vacant role in your organization, you have two distinct options: promote from within or hire from outside. How can you tell which avenue is best?
Use the information below to help you weigh your options. Based on my years of experience, I share with you the intricacies of internal promotion versus external hiring, as well as the key factors you’ll want to consider before moving forward.
Explore the benefits and potential drawbacks of internal promotions
If you have either a new position or one left open by a departing employee, you might not have to develop a recruitment strategy to attract new talent. Finding the right candidate could be as simple as reviewing your existing workforce. Prioritizing internal promotion benefits helps employees and your organization as a whole.
Not only will your staff feel rewarded for their hard work and loyalty, but career advancement opportunities can also aid with employee retention. You could save time and money by selecting from a pool of known talent rather than casting a net for new faces.
Bear in mind that promoting from within comes with risks. Candidates who don’t get the job can feel defeated, affecting their on-the-job morale.
Dissecting the pros and cons of external hiring
Should your company promote from within or hire from outside? If you opt for the latter, you’ll benefit from having fresh eyes enter your organization. New hires bring different expertise and perspectives to jobs that can benefit the entire team they’re working with.
On the other hand, introducing someone to the company isn’t always advantageous. The hiring process may take weeks, while onboarding and training can further delay operations. For a rapid transition, companies often prefer promoting a qualified staff member over sourcing work from outside candidates.
How to decide between internal promotions and external hiring
You know your business and your workforce best. Use this to your advantage when evaluating ways to fill a vacant role.
Assess the job’s essential duties along with how the role aligns with your long-term business goals. Then, review potential candidates in other positions and whether they can achieve success in the role based on their expertise. Consider any additional training that the job may require before moving forward with a decision.
Say you operate a small business with 15 employees, and three of them juggle key marketing tasks. If you have the resources to create a new marketing director role, do these employees have enough expertise with all the job requirements, or would they benefit from hiring someone with ample marketing experience?
You can assemble a hiring committee to evaluate potential candidates, but this may cause conflict among staff. Consult an expert if you need help with this and other employment issues.
Make key decisions with the help of fractional HR experts
Deciding whether to promote from within or hire from outside can impact your organization going forward. If you need assistance in this decision, 45 Solutions is here to help. We’re HR problem solvers who are ready to help with everything from the hiring and promotion of employees to the exit interview process.
