Hiring from Within: Which Position Should You Really be Filling?
|Hiring from Within: Which Position Should You Really be Filling?|
by Vanessa Noble, Client Service Manager, Acclivity Healthcare
If you’ve found yourself with an open job position to fill, you might want to hold off from posting the vacancy on public job boards. Instead, you may want to consider whether that opening is the one you should be posting at all. In some circumstances it is often easier to promote from within and then look externally to fill a lesser position.
Promoting internally has its advantages, especially for higher-up positions. Data has shown that hiring externally endures a much higher rate (61 percent) of ending in termination or layoff than when hiring internally — and a 21 percent higher rate that external hires will voluntarily exit. When considering these odds, the safer external hire may be for a lesser position than your current vacancy.
Here are a few positives to consider:
Costs associated to hiring
The salary for the promoted employee may also end up costing the company less. Hiring from the open market means having to present a possibly inflated, competitive wage, while an employee being promoted can often fill the roll and would be happy to get a sizeable pay raise. The raise, though, may amount to significantly less what it would have cost to bring in a new hire.
Filling the lower, now vacated position externally should be easier and more cost effective. There will be a wider pool of eligible candidates and a lower starting salary to negotiate.
Meanwhile, you can look outward to fill the lesser position. Bringing people into the company on a lower level will let you develop them into productive employees. After a few years, they may become eligible for promotion also.
As with everything, there are also some negatives to consider:
Is there anyone eligible?
The bottom line is, you are going to fill a vacancy with a new hire from outside your company. In some circumstances, though, you may have a choice of which vacancy you want to fill. Taking stock of your human capital will give you options when it comes to hiring time and may save you time, stress and money.