Continually hiring from outside when good positions come up in your company has two interconnected effects: First, it tells your entire staff that there is no place for them to grow within your company, so they become discouraged. Second, once that realization sets in, the result is critical levels of disengagement.
Stacking your mid-range positions with younger or less experienced out- siders might seem like a way to save money right now, but it will hurt you in the long run when you’re dealing with high turnover and low productivity. Consider this fact alone: the average cost of replacing an employee is currently sitting at around $15,000.
On the flipside, we’ve seen that regularly promoting your people from within delivers higher levels of engagement, a more cohesive work culture, and much, much lower turnover. (And why wouldn’t it, when people know they’re working in a company that values them?)
Internal promotion has a practical value, too: an existing employee already has the co-worker and customer relationships a new hire would need to spend weeks developing, already has a good knowledge of your culture and internal practices, already has a foundation of loyalty—from day one in their new position.
Emmy Award Winning Keynote Speaker Clint Pulver helps organizations that want to retain, engage and inspire their younger workforce. As the President and founder of The Center for Employee Retention, Clint has transformed how corporations like Keller Williams, AT&T and Hewlett Packard create lasting loyalty through his work and research as “The Undercover Millennial”.
He has appeared on America’s Got Talent and in several different Feature Films with actors like Jack Black (School of Rock) and John Heder (Napoleon Dynamite). Clint was named one of Business Q Magazine’s “Top 40 Under 40” for his work in helping corporations elevate their “WHY” of mentorship in the workplace and how connected and engaged employees yield loyal and long-term retention within organizations.
For over a decade, Clint has helped leadership teams diminish turnover, increase engagement and create an organization their people never want to leave. With a blend of humor, unforgettable stories, and actionable takeaways that stick, Clint convinces audiences on the power of “The Mentorship Effect,” and why some leaders create lasting loyalty and others don’t.
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