Yep, you read correctly.
50% of employees promoted fail in their new role.
Why? Because the same research also reveals that only 10% of employees promoted are adequately trained and groomed for the new responsibility.
So how do your create a business where internal promotions are successful?
High potential employees who are dynamic and ambitious want to be in a company that is focused on professional development. If you do not have this culture, you will loose them to an employer who does. Make development of your employees a key priority and communicate this to your team.
Sit down with your employees on a regular basis and formally review their performance, give feedback and set SMART goals that you can review at your next catch-up. Employees will feel motivated, challenged and on-the-ball.
For your employees with the greatest potential, look at assigning a mentor to them. It could be yourself or some other senior person in the business that can offer guidance and support.
Encourage your employees to push through their comfort zone. As soon as they have proven proficiency in a task, give them challenging new responsibilities that will take their professional development to the next level.
It's vital that once you promote an employee you continue to provide ongoing support and guidance to avoid the risk of failure.
CEO/Founder @ RosterElf
Magically Simple Staff Rostering