Think of your business as a building; you are the foundation, having been the first person in the business, and because it all rests on your shoulders. Each manager or department head is a supporting beam, and each brick is an employee. Each new employee is added to the top of the pile so that the longer that employee has been with the company, the further down the wall they are, and the more integral they are to keeping the structure sound. Now, every time a person leaves and needs to be replaced, that brick or beam makes the structure rocky when it is removed, especially if it’s a beam or an older brick. Which then could be replaced with one that doesn’t quite fit right, and then you end up with a wonky, or draughty building.
If that analogy just went over your head, then this next bit is going to be meaningless. If you promote an employee, imagine that they turn from a brick to a beam; they transform into a more integral part of the building that perfectly fits into the structure, rather than leaving gaps, or making things wonky.
The bottom line is that promoting from within your company as much as possible is so much better for your business than hiring from outside. Not only do they know the workings of the company better than someone trying to step in, but the fact that you are loyal and supportive of your staff and their ambitions will inspire the same feelings from them directed at you and your company.
If you have multiple locations, it might be an idea to use something like the software developed by Rolepoint, where you can internally advertise new openings within the company, and you can see who is looking to step up. In those instances, you can help by supporting any extra training that they might need to be ready for that role.
As well as promoting throughout locations, you can also look at a basic transfer, where one employee moves to a new location while retaining the same job. This could be for a number of reasons; they might just want to relocate, they might be moving to go to school or to be closer to family, or they might think that the other location would suit them better. If they are a good worker, you don’t want to lose them. So, if you can, then accommodate them wherever you can. This might mean that you suddenly have an opening somewhere else, but that can easily be rectified.
There might be times where you need to hire externally, and in those cases, you will want to vet the applicants properly so that they don’t create draughts or unstabilise your company. To do that, don’t rely on generic job sites, find ones that deal closely with applicants into your particular industry, or focus on sites like Linkedin to see people’s experience and availability before having to advertise the role.