To hire or not to hire – internally – that is the question.
In the constant struggle to cut costs and improve the time-to-hire metrics, many organizations are looking for candidates in a place that may have been overlooked in the past — their existing employee base. Yes, fishing for talent from the company pond is making a comeback.
While hiring from within may seem like a good idea and have many advantages, it’s not always possible as current employees may lack the experience and skill sets necessary to take on a new role, and many organizations do not have formal training or succession plan programs that invest in the development of top performers. Hiring from within can also stifle the mix of new ideas, expertise, technology and energy into an organization’s culture. And with career consultants now recommending a new job every three to five years, there’s no guarantee that the internal hire –- and the money invested in their training -- will stick around.
So what’s a company to do?
Q1. What are the advantages of hiring/promoting an internal candidate?
Q2. How can talent management and succession strategies be crafted to ensure a promotable pool of future talent?
Q3. How can companies who regularly promote/hire from within ensure a fresh mix ideas, skills and experience?
Q4. What are the reasons you might bypass an internal candidate who has the skills and experience for the promotion?
Q5. How do the hiring practices of an organization affect engagement, morale and culture?
Q6. How is the trend in job hopping affecting succession planning programs in your organizations?
Q7. Do you see the trend of job hopping (every 3-5 years) increasing or decreasing in the future? Why?