A company is a dynamic organization. People join and leave companies. A company may also expand its operations, add new products and services or start new branches, divisions, subsidiaries etc. Along with the growth of the company, its employees’ careers also should grow. The right employees must get opportunities to grow within the organization, if they have proven their ability to take up and fulfill responsibilities given to them.
- Promotion is a tool to recognize the right talent and motivate them through higher responsibility, status and of course, higher remuneration.
- It offers the opportunity to the employees to advance their career.
- A possibility of a promotion motivates the employees to do better and prove their abilities through improved performance.
- It gives rise to a competitive spirit in the company.
- It also helps the company fill up higher positions with the experienced employees who have been with the company for a significant amount of time.
- Promotions should be carried out in a systematic, predictable and transparent manner.
- Generally, promotions happen at the time of an appraisal or when some position becomes vacant due to the retirement or exit of an existing employee. Alternatively, when the company starts something new, the promotions of existing employees may happen.
- The company management should ensure that this tool is not misused.
- When a newcomer joins a company at a higher position to which some existing employees were aspiring to be promoted, it gives rise to discontent among the existing employees.
- Sometimes, when family members or relatives are given undue promotions, it demotivates the other employees. Ideally, promotions should be given only on merit.
(Expert advice to GROW your business wherever you are, whenever you want.
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