Do you really know the people who work for you? More importantly, do you know their goals and aspirations? When I worked at a fortune 50 company, I remember filling out a form that basically asked me what I wanted to be when I grew up. I continued to work at that company for over ten years and never got closer to that dream. Some of that was my fault and some of it was theirs. Let me get back to the point however. The point here is that most companies don’t ever take the time to figure out what their employees really want or want to be. They simply hire them for one job, keep them locked in, and burn them out until they leave the company. That’s the way it works though, right? You hired them to do X not Y…why does this matter to you?
There are several reasons as to why this may matter to you. This employee who is currently working with you has already establish some amount of trust and reliability with you. Of course we are assuming that the employee is a good one. Having someone you can depend upon in your organization is just as important as someone with high amounts of skill. In some cases this could outweigh a person with high skill. Getting an understanding of what this person desires could help you build an employee for a role that he/she would be more excited to work for and in turn create better results for the company.
The employee is also already familiar with company policy and procedures. If you were to move or promote this person to a new role inside the company they wouldn’t need that extra training. Plus, they have all the tribal knowledge and culture exposure as well. They would also have contacts and context of the previous department to help them get work done more efficiently. Promoting from within doesn’t mean you made a bad hire it means that you have a finger on the pulse of the company.
Lastly, money. You will save money simply because there will be less training needed when the person changes roles. Also, your money that you use to train them when they first started in the company now has a larger return value. Now that you have made that employee happier and getting him/her closer to their goal we can assume their productivity will be higher. Another way of saving money can be seen when you replace the employee in the position left vacant. You can hire an intern or an entry level person to build into another great addition to your team.
The main point to all of this is simple. Get to your know your people. The interview process does not end at awarding someone with a job. It’s an on going process to get to know the people you are bringing into your organization and helping them reach their goals, and by doing so, filling your company with people that are happier, more productive and in it for the long haul.