You want to keep your best employees loyal to your business. You value their skills and their institutional knowledge. You promote them to new positions, as the head of a team or a regional director. But then they start to flounder. Why? What can be done to keep them happy and productive? The answer may be to hire a coach to help your internal promotions meet the expectations of their new position.
Internal Promotions are Good for Business
The hiring process is time-consuming, exhausting, and expensive. Turning to your existing pool of employees to fill vacancies can be better for everyone. As an employer, you gain the benefit of a new manager or team lead who already knows your organization’s priorities and values. They know how you get things done, and what is central to your business.
For employees, knowing there is a path forward within the organization can improve company loyalty. Millennials (born between 1981 and 1996) and Gen Z workers (born after 1996) are more likely than their older, more-established counterparts to switch jobs. However, that is partially because they may not see opportunities for advancement in their existing position. By promoting your company’s best talent, you can give your workers that the career flexibility they seek within your organization.
Get Support for Your Company’s Internal Promotions
Work with a leadership and executive coach to help your key employees reach their potential.
Why Newly Promoted Leaders Fail
Unfortunately, promoting a promising employee can often lead to reduced performance. According to Fortune, more than 50% of new executives fail within the first 18 months of receiving a promotion. This is especially true of internal promotions, who often receive little attention or support in their new position. When a person is promoted from an operational role to management, you can expect to see a short-term reduction in their abilities and performance reviews.
Why? A new job always comes with new obligations and expectations. External hires are brought on based on how well their skills and potential fit the obligations of their new position. They learn about their role within your company during onboarding. However, internal promotions are often based on the employee’s past performance, rather than future potential. They are presumed to know what is expected of them, and to be able to rise to the challenge. This is true even when the new position adds supervisory duties and other leadership tasks outside the employee’s past experience. Without adequate training, these newly promoted leaders will fall back on their default management styles, which may not mesh well with the teams they are assigned to supervise.
How Coaching Helps Internal Promotions Ease the Transition
High-performing employees get promoted based on that performance. When they take on new roles, they need time and guidance to learn the skills they need to excel in their new position. Working with a leadership coach immediately can give newly promoted managers and supervisors support and help them set professional development goals to grow into their new position. They can learn the emotional intelligence and leadership skills they need to manage their teams and address workplace conflict.
Further up the corporate ladder, executive coaching is crucial to helping newly promoted directors or executives look at the bigger picture of the company, developing their strategic vision, and enabling them to let go of the day-to-day operations in favor of the company’s overall success. At every level, coaching provides ongoing support, allowing new leaders to identify challenges exposed by their new position, and shore up their skills to meet company expectations.
Make Coaching Part of Your Company’s Internal Onboarding Procedure
If employee retention is a company goal, you must enable your internal promotions’ transition even more than any external hires. Don’t rely on your newly promoted leaders’ institutional knowledge to pull them through a difficult first year. Instead, pair thorough internal onboarding and training with ongoing coaching support. This will let your newly promoted employees grow into their new position and show them that you and your company are invested in their long-term success.
David Stanislaw is an organizational development specialist with over 30 years’ experience helping companies fill vacancies and develop their internal talent. Through leadership and executive coaching, David helps businesses maximize their employees’ potential within the organization. Contact us to meet with David to begin training your new executive today.