Employee promotion is an important aspect of every organization. It gives employees a path towards their career advancement. Employee promotion is a way of rewarding an employee for his good performance during their job, or also during after an appraisal cycle. Before promoting an employee to a higher position, managers often ensure if the employee is capable enough to take up new responsibilities and provide him with the skill and training required to do his job.

But there is more to promotion apart from career advancement, salary and benefits. When people often use the phrase, ‘climbing up the corporate ladder’, it is largely contingent upon employee promotions. When it comes to employee promotions, most employees are not aware of the fact that there are several factors involved when nominating an employee for promotion such as budget, seniority, merit and the availability of positions. But employees are often kept in the dark.  

Many employees who look for jobs often go to third party websites to find out if there is any possible career advancement in a certain organization because the truth is everyone is concerned about promotions. In that case, isn’t it always better if companies could be transparent about their employee promotion policies? In this article, let us discuss a few benefits of keeping employee promotions transparent: 

Trust 

After recruiting the best talent in your workforce, there is always more to just asking them to work hard. Gone are the days, when our forefathers would just do their jobs if they are getting paid well. We live in a millennial era. If you are going to ask GenY employees to work hard, they are going to say, “why should I? Because obviously, they feel entitled to know if working hard is getting them anywhere.  

Therefore, if you delineate your expectation out of them clearly, and the factors that affects promotions, it will be easier for employees to work according to those standards. It is also a way of telling your employees that decisions related to employee promotions are not driven by favoritism or biases. 

Motivation 

Like I have mentioned previously, employee promotions are a way of rewarding employees for their good work during an appraisal cycle or during their work. When we speak about rewards, they are very motivating. If employees are told about these factors, they will be motivated to work towards fulfilling those parameters. They would be easily able to follow the necessary steps to achieve a promotion. Since your employees are motivated, they will always strive for the best and this increases their productivity. 

Documentation 

Thankfully, nowadays, companies are investing in various technologies to engage and retain their top talent. When companies leverage in such tools, they can easily streamline the employee promotion process. In addition to that the system documents everything.  

For instance, Synergita is a performance management software, that has an employee promotion module, with which you can easily streamline, automate and accelerate your employee promotion process in a systematic manner. The system helps you to identify, nominate and approve employees for promotion based on their merit. One could also do promotions separately, without combining it with appraisals. 

Growth  

The main thing employees look for in a job is career advancement. No one wants to end up doing the same job for the rest of their life. Since, we are looking at millennials, they always crave for more to what they are doing. However, in order to grow, they will always need a solid roadmap before embarking on anything. Creating a tangible promotions policy will help them achieve their career goals, because now they know what to work on to get what they want. 

Care 

When you are being transparent in the way of disseminating information to your employees, it shows them how they are being valued in the organization. When it comes to sharing information related to employee promotion, it is a way of showing them that you care about their career growth and how you invest your time in developing their professional life. 

Conclusion 

Being open about your employee promotions will help you become successful in the long run. Being transparent with the right amount will build trust amongst employees. It also improved employee morale, reduces anxiety related to work, fosters employee engagement and boosts employee performance and productivity.