Now’s the time to evaluate your in-house promotion policy

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in Employment Law,Hiring,HR Management,Human Resources

Here's a new trend that shows positive signs for the economy, but should present a big "Caution" sign for you: The number of people changing jobs within an organization has more than doubled in the past few months.

Specifically, 3.3 percent of the U.S. work force took new jobs with their employers during the third quarter of 2003. That's up from 1.4 percent in the second quarter, according to a survey of 1,013 workers by HR consulting firm Lee Hecht Harrison (LHH).

That's a bright sign for the economy because "it suggests companies have roles to fill, but that they're looking first to existing employees rather than making more expensive, riskier outside hires," says Bernadette Kenny, LHH executive vice president.

The implications for you Your organization may rely more heavily on internal promotions than in the past. And as greater numbers of existing employees compete for coveted "inside" jobs, expect a correspond...(register to read more)

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