🧳 How To Promote Employees

Read below to learn more about promoting your employees! [Fit Small Business]( Expert Insights on HR June 12, 2024 Our Expert’s Topic for the Week: Promoting Employees Promoting employees can create a strong company culture where employees are recognized and rewarded for their hard work. By investing in the development of your workforce, you not only enhance their skills and knowledge but also show that you value their growth within your company. Read below to learn more about promoting your employees, goals for professional development, and methods to assess employees. - Jennifer Soper, Robie Ann Ferrer, & Genevieve Que   Stay Current   Employee promotions have slowed. According to a 2023 workplace study conducted by the ADP Research Institute: - Only 4.5% of US workers receive a promotion within two years of being hired. - Only 2.9% of non-managers rise to management roles within two years. - A first-level manager is 11% more likely to advance to the next role in the same timeline compared to second- and third-level managers. Here are the articles covered in today's edition. - [How to Promote Employees: Tips for Small Business Owners]( - [Professional Development Goal Ideas]( - [Types and Methods of Employee Assessment](   [How to Promote Employees: Tips for Small Business Owners]( [How to Promote Employees: Tips for Small Business Owners]( Promoting employees helps build a positive company culture that encourages staff development and recognizes top talents. Follow our step-by-step guide to help ensure that your promotion processes are fair, transparent, and merit-based.   [Professional Development Goal Ideas]( [Professional Development Goal Ideas]( Helping your employees further their careers with a professional development goal for work not only enhances their employee experience but also helps your company. Your subordinates grow in confidence, knowledge, and skill, giving you a better pool for promotions or filling other positions in-house.   [Types and Methods of Employee Assessment]( [Types and Methods of Employee Assessment]( Small businesses can use an employee assessment to identify individual strengths and development needs, including areas where additional training or support may be needed. You can also gauge cultural fit and provide resources to help your employees thrive in their roles.   Based on Your Latest Reads   [What Is Predatory Pricing? Effects & Legalities]( What is predatory pricing? Learn why this pricing strategy is harmful to consumers and the legalities around it. [What Is a Periodic Inventory System & When Is It Used? (+ Example)]( Learn how to master inventory control and calculate COGS at the end of the period with a periodic inventory system. [What is 3-way Matching in Accounts Payable & Why Use It?]( Learn what 3-way matching is in accounts payable, how it works, why you should use it, and why and how you can automate the process. Did you know? 🤔 There's more beyond the newsletter? Follow us on social media to stay informed on exclusive insights, resources, and sneak peeks into the latest trends in sales!   Latest in HR   [Best Performance Management Systems]( Keeping track of employee performance can help you identify potential workers to promote. With a performance management system, you can easily track employee work goals, gather feedback, highlight development opportunities, and assess a worker’s potential to assume a higher role with more responsibilities.   [Best Employee Management Software]( Using software to measure employee management can help improve workforce productivity, identify ways to promote talent, and alleviate administrative burdens for HR professionals. The best employee management software will have a wide range of features that can help businesses achieve these goals.   [How to Coach Employees for Improved Performance]( Coaching employees involves a structured approach that focuses on developing their skills and abilities, addressing performance issues, and setting goals for improvement. If done right, coaching brings significant ROI to your business. More FSB Resources   More Than A Newsletter   Written by Jennifer Soper, Robie Ann Ferrer, & Genevieve Que About Fit Small Business HR Newsletter: Providing you with newsworthy tips, tricks, and informational deep dives on all HR and Payroll topics relevant to small business owners. Delivered to your inbox every Wednesday. [Sign up today]( Visit the [Subscription Center]( to get other free newsletters, manage your account settings or to be removed from Fit Small Business communications. 0[Unsubscribe](