A promotion often provides a significant boost in an employee’s motivation and morale while also communicating that leadership trusts them to take on more responsibilities. This can result in higher productivity and prevents your company from losing its valuable, high performing employees.
There are many benefits and advantages of promoting employees regularly for their efforts, and the following are just some that the SHOUTOUT team have witnessed first hand:
- Recognises & improves employee performance, ambition, and hard work.
- Boosts motivation & increases the loyalty of employees.
- Improves retention.
- Provides direction and a support framework for employees.
- Encourages ongoing training and development.
- Grooms leaders for the future.
Remember to give your employees clarity on what you are looking for and how they can demonstrate this. Here’s how to develop an employee promotion strategy and communicate that strategy for your business,
- Share the objective selection criteria ahead of time.
- Ensure the criteria includes the goals and metrics of the new role so that expectations are clear on both sides.
- Stick to that criteria and don’t let unconscious bias or relationships influence your decision.
- Give every candidate feedback and assist unsuccessful candidates to gain training or mentoring support so they don’t lose motivation.
- Choose the person who wants the job, not just the title.
- Help the person you select succeed.
With promotions don’t just look at financial rewards. Look at offering perks such as time and support towards upskilling; many candidates will want to further their education and knowledge. Offering shares or commission plans can be a great incentive for candidates who are invested in the challenge of growing the business and give them a sense of ownership to see the company succeed.
There will always be some level of disappointment among those unsuccessful for a promotion. This is an opportunity to engage with these employees on their future visions for where they see themselves in the business and support them with a training plan towards success.
Celebrate promotions as a team so that everyone feels included – the next best thing to personally winning is a valued member of a winning team, and everyone can get behind that!
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