promotions: What works best for effective leadership transitions: External candidates or internal promotions?
Leadership transitions are pivotal moments in a company's growth journey, driven by both external circumstances and internal leadership decisions. Choosing between internal promotions and external hires is a strategic decision at these junctures. Internal promotions offer advantages such as familiarity with the business and culture, smoother transitions, and boosted morale. Progressive companies focus on creating internal talent pipelines to reduce hiring costs and maintain continuity.
Source: indiatimes.com
