Approximately 45 % of all job openings are filled through internal promotion. This is because people are (well) known to the organization, they have proven to fit into the company culture and they deserve for one reason or another a new challenge or a promotion. The tools and processes to do this are:
- performance development appraisal
- risk assessment
- succession plan
- people development action plan
External channels (e.g. executive search) are required if you have no suitable candidates internally. Here is a link to a white paper with a summary of the general hiring process and how executives should approach the challenge of finding a new job (unfortunately in German only). The latter then is “people development outside the current employer”.