538 | The Pros & Cons: Hiring From Within

The Chris LoCurto Show

Use the timestamps below to guide you better as a leader or individual:

538Summary

• Three big things to consider when hiring an outside hire. 0:00
  • The three big things to consider when trying to decide whether to go with an outside hire or to promote from within the organization.
  • Who is this for?
• How important is it to have the right team? 1:14
  • The importance of getting the right person in the seat and making the right moves strategically inside of the business.
  • The three big things that are important to consider.
• The team affects every aspect of the business. 3:01
  • Your team affects every aspect of the business. The number one issue in every business is a lack of quality communication, accountability and quality culture.
  • Your team is your most important investment.
• Should you promote from within or go with an external hire? 4:59
  • The first thing to consider is time and costs, internal hires will fast track the interview process. The first interview is a culture interview.
  • The other conversation is for another day.
• Hiring internally vs external hiring. 6:24
  • Take a look at what they have done since they have been on the team to see if they can fast track the interview process.
  • Delegate properly.
  • Hiring an external hire will take longer and cost more than hiring an internal hire.
  • Hiring from within will cut down on time and expenses as well as time.
• Impact on the team. 10:13
  • Internal hires have built in familiarity and loyalty across the team. It helps fast track integration and can boost the morale of other team members.
  • How it will impact the team now.
• Things to consider when bringing in an external hire. 12:13
  • Consider how an external hire will impact the team, and how it could be the thing that you want to change or shake things up.
  • The third thing to consider while leveraging the risks of hiring an external person is to consider.
• Leveraging the risks and not managing the risks. 14:10
  • Risk is not always a bad thing. Sometimes shaking things up can be a good thing. The key is getting the risk factor to work in your favor.
  • How to manage risk.
• Managing the culture. 16:23
  • The internal promotion process is a great opportunity to offer the promotion to anyone who wants it and those who aren't ready for it.
  • The internal hiring process gives you the opportunity to sit down with a team member and ask them what makes them prepared to take on the role.
• Leveraging the risks with external hires. 18:35
  • God has plans for everybody, and not everybody has to be inside of the business. It all comes back to leadership.
  • Leveraging the risks with the external hire to start with a clean slate and get a new code of culture on.