Do you know what motivates your employees to do a good job? It’s the same thing that motivates them to stay with a business: personal growth.
Gone are the days where work is considered to be a means to an end.
Now, employees consider work to be a purpose. They don’t want to just go through the motions. They want to do something and feel like they’re making a difference.
If you can give your employees that feeling, they’ll be much happier to stay with your business.
An easy way to accomplish this is to promote from within. By doing this, you give your employees a chance to cultivate new skills while strengthening current skills. What better way is there for an individual to grow?
Strategy #4: Promote from Within
Promoting from within is as much a benefit for your employees as it is for your business.
When you promote from within, you hedge some of the risk that comes with placing someone in a new position.
Hiring is a gamble. And with every gamble comes a certain degree of risk.
But existing employees are people you know. You can look back at their accomplishments and failures they’ve had at your business. You can also see how they handled both to get an idea of how they'd handle the new position.
You will also already have a good understanding of how they work with your other employees. If you promote someone other employees enjoy working around, you'll increase the happiness of everyone.
It’s still a gamble to promote from within, but the risk is minimized by your experience working with your employees.
Even if you don't currently have any positions open, just having the opportunity is a great incentive for employees to work hard and stick with your business.
Do you promote from within? Let us know in the comments below!
And look forward to the final installment of the 5 Simple Employee Retention Strategies series!