Promoting in-house can be one of the most effective and least costly hiring strategies when you’re looking for talented employees for your MSP company. Hiring in-house also boosts morale and creates a motivational, positive company culture. Internal promotions encourage your top talent to stay with your company for professional development, saving you the high cost of recruiting.
When you promote internally, choose candidates that are good role models for your other employees. Interview them the same way you would external candidates. Ensure that the promotion is merit-based or you could cause bad feelings among the rest of your staff.
Basing promotions on merit prevents favoritism and enhances fairness and equality. With these principles, you gain your employees trust and loyalty. Because the promotions are merit-driven, your company benefits with high-quality performance from your staff.
The best way to predict the future behavior of in-house hires is to look at past behavior. Review their previous work history and job performance, making sure they’ve earned a chance for advancement.
Benefits of Hiring Internally
When searching for the best candidate in your company, start with a clear set of your current business goals and future priorities. This helps you decide who is the best fit to meet those challenges and who has the leadership potential to get the job done.
One of the benefits of promoting internally is that you can foster organizational growth by grooming the talent you already have. You can advance strong leadership qualities in your teams, ensuring the development of high-potential talent. Through training, encouragement, and providing professional opportunities, you help your employees to harness their talents. In this way, you remain competitive by training your own future leaders. As a result, you’ll strengthen performance quality, customer satisfaction, and ROI.
Identifying and Developing Leadership Qualities
Turnover is always a challenge for your MSP company. But by hiring in-house, you can solve this problem. Remember that leadership can make or break the success of your business. So, it’s crucial to look for the following qualities when assessing high-quality leadership potential for promoting internally:
- Interpersonal skills
- Open communication skills
- Superior performance
- Embrace challenges
- Vision for the company’s future
- Team commitment
- Open to new ideas
- Articulate clearly and concisely to others
- Mutual respect for co-workers
- Strong analytical and conceptual skills
- Ability to resolve problems
- High energy level
- Behavior consistent with beliefs, principles, and values
- Concerned with the well-being of the company
- Critical thinking for decision making
Investing in internal promotion programs gives your top performers a way to remain with your MSP company rather than jumping ship for outside job opportunities. This reduction in employee turnover helps your bottom line and encourages your talented performers to develop their leadership qualities internally, closing the revolving door to outside opportunities.