In this video, I explain how it can benefit both business owners and employees when business owners promote existing employees from within the company whenever possible as opposed to hiring outside individuals to fill higher positions.
In almost 30 years of running my international networking organization, BNI®, I have largely taken the approach of hiring new employees to fill lower level positions and then promoting them over time to higher and higher positions. To exemplify how this has proven beneficial, I tell the story of an employee I hired over twenty years ago as a receptionist who is now the third highest ranking executive in my company.
I firmly believe that actively looking for opportunities to promote people from within a company not only increases morale within the entire company, it also motivates employees to grow their skills and experience and perform at an increasingly high level.
What is your opinion on promoting from within a company as opposed to hiring from the outside whenever possible? Do you have a story about an employee or employees you have promoted who have proved to be irreplaceable assets to your business? I’d love to hear from you so please share your thoughts and experiences in the comment forum below. Thanks!