Employers: are you ready to promote?
Are you looking to promote someone? Before proceeding, make sure you are prepared both financially and operationally to see the promotion through. Consider the following:
- What will the promotion entail — a raise, added responsibilities, a new title and job description?
- Will training be needed? If so, who will provide it?
- What will happen to the position being vacated?
Decide who will take care of the planning and administration of each element, and how much it will cost. Depending on the size and structure of your organization, promoting one individual may create additional opportunities for advancement as people move up the chain.
Alternatives and precursors to promotion
If you are not ready to promote, but want to reward employees or prepare them for advancement, there are alternatives you can offer that can benefit you both.
- Acknowledgement of good work — Letting employees know that their work is valued can help increase their satisfaction and motivation.
- Expanding tasks and providing training — Learning new skills adds variety to employees' jobs, and prepares them for promotion.
- Coaching/mentoring — These opportunities allow employees to improve their potential with experiences that are aligned with the goals of your business.
- Vacation or flexible schedules — Having time off or work-at-home days can help relieve employee stress.
- Fringe benefits — Where possible, you can offer employees free use of property, goods or services owned by you, an allowance, or a reimbursement of personal expenses.
- Improved working conditions — Creating a safe and comfortable physical environment for your employees allows them to do their best work.
If your budget is tight, brainstorm with your employees. They may come up with ways to cut costs or consolidate job duties if they know the results will benefit them.
When an employee isn't ready
Sometimes an employee who is not ready for a promotion will ask for one; other times, you may want to promote an employee who isn't comfortable taking that next step. In these cases, meet with the employees to hear their reasoning and share your concerns. You may want to offer them some coaching, or a chance to expand their skills.
In a small business, you need a strong team of skilled people who are able to help you grow, and who can grow with you. Your commitment to employee development will strengthen their loyalty and benefit your business.