The rate at which internal hires fill available positions inside a company is known as the internal promotion rate. Employers choose the best candidates for open positions through this recruitment procedure. The procedure aids businesses in assessing internal talent’s suitability for various positions. Given that a top performer in one division is transferred to another to handle different responsibilities, improperly executed internal promotions may result in certain disadvantages for the business. This might not account for the worker’s high level of output, and the business might lose a subject matter expert in a certain field.
Additionally, internal promotions provide the following advantages:
- Lower costs in comparison to employing someone from outside
- Less time is spent on training because the team and organization already know the person, which saves a great deal of time and effort.
