A survey of over 400,000 people across the U.S. found that when employees believe promotions are managed effectively, they are more than two times as likely to give extra effort at work — and to plan for having a long-term future with their company, according to an article on Inc.com.
And, when employees believe promotions are managed effectively, they are more than five times as likely to believe their leaders act with integrity.
The result? At those companies, employee turnover rates are half that of other companies in the same industry. Productivity, innovation, and growth metrics outperform the competition.
As a leader — and as a company — what you say certainly matters, but what you do is everything.
Take a step back and look at the criteria you use; instead of focusing on "qualifications," determine what the perfect person in the job will actually do.
After all, you aren't filling a position; you're putting the right person into a job. You don't promote titles.
If teamwork matters most, promote the best team players. If productivity matters most, promote your most effective employees.