Create a winning game plan for promoting from within and hiring new talent
Got an open position to fill? Here are some tips to help you weigh your options and act strategically.
Recently we’ve participated in many spirited discussions around the topic of hiring vs. promoting from within. Variables in the economy, business objectives and internal politics all influence the decision process (and weighing your options can be daunting). A sound staffing strategy will help you cut to the chase and get the right people on the bus.
Building executive leadership is similar to creating a championship pro-sports franchise. Winning teams identify their anchor players, then strategically recruit to round-out their rosters and fill key skill gaps. You should look at staffing your management team in the same strategic manner.
Strategy aside, these are cautious times. Promoting from within the organization can often appear to be the safer more politically correct option. After all, promoting people builds morale, maintains corporate culture and provides valuable employees with solid career paths. While these are all good things, they shouldn’t take precedence over strategic business objectives.
Maintaining corporate culture is important, however placing too much weight on these factors may place your organization at risk of becoming internally focused and resistant to new ideas. When considering internal team members, don’t ask yourself if they deserve the position. Ask if they are the right fit for the role.
Once you have identified high potential candidates within your organization you need to consider everything from their interpersonal relationships to the effects that past downsizing may have had on their stamina and loyalties.
Client experience, relationships and research have taught us that each situation is unique. The market, your industry, the requirements of the position and the talent within your organization must be closely reconciled to make the right decision. There is a time and circumstance for each scenario and each new position should be assessed on a case-by-case basis. We’ve created a Game Plan to help our clients hire for leadership.