What are some pros and cons When an employee is promoted with in company?

Question

What are some pros and cons When an employee is promoted with in company?

Answer 1

When a company promotes from within it shows other employees that there is a chance for advancement.This may prevent someone from leaving for a better position elsewhere.

Answer 2

From the employee viewpoint:

Pro: Higher salary

Con: More responsabilities

From the companies viewpoint:

Pro: Person knows the company, not much need for training

Con: More limited in filling the vacancy as opposed to an open application for anyone.

But there is a lot more to it then just these...

Basically, for an employee it is great, for a company, not so. Since they do not look for better suited people (high probability) elsewhere.