Are your top performers getting promoted based on the ongoing results they are achieving? Do you have a promotion model in place that encourages your employees to work hard to earn more status and money? Promoting your best performers is beneficial in many ways, including creating a culture of excellence in your business.
Promoting your employees from within your company can be a win-win situation for small businesses. Not only does it save time and money, but also creates an environment where overall morale is increased as well. Many small businesses promote their employees for the right reasons, such as their contribution to the business, increased sales or the achievement of specific objectives. Some provide promotions for all the wrong reasons.
Defining the path to a promotion is a great starting point to let everyone know what is expected of them, and what they will get if they meet or exceed those expectations. Employees who are problem solvers and demonstrate that they care about your company’s success are great candidates for promotions.
Promotions from within your organizations should not be done in a random fashion. In other words, when someone is promoted it shouldn’t be a surprise to them or anyone else. Formally announcing promotions, both internally and externally, demonstrates to your employees that this is important to you. Promoting your top performers shows that you care about your employees, and will help create a work environment that will help your small business achieve higher levels of success.