Solid employee practices include knowing when to promote an employee based on the value of their working performance. One of the biggest challenges for business owners is ensuring consistency across all employment decisions. Your business insurance can cover some of those mistakes, but the goal is to avoid them. One of the most common challenges for many business owners is the promotional process.
Understanding the Best Employee Practices for Promoting an Employee
You should understand some critical fundamentals before you consider any promotions.
Business Insurance Basics
Before making employment and promotion decisions, ensure you have adequate insurance coverage. Overlooking coverage lines such as Employment Practices Liability can expose your company to serious risks.
Promotional Standards and Expectations
To avoid any risk of discrimination claims in your promotional practices, establish a clear set of guidelines and standards to follow for promotional decisions. When you define a standard set of criteria and publish the criteria for every employee to see, this gives everyone a fair chance to meet those standards, reducing the risk of discrimination claims.
Readiness for Promotion
If you wonder how to know an employee is ready for promotion, you must understand what skills and achievements you should watch for.
Positivity
Candidates for promotion should be those with a positive attitude and energy. Look for employees who energize the work environment and inspire others. These employees can strive as leaders and foster an encouraging atmosphere.
Leadership Skills
Candidates who are ready for promotion often already showcase those leadership skills. You may notice an employee taking charge in departmental situations, welcoming and guiding new hires, and serving as a go-to resource in their department. Those are employees you should consider for promotion.
Proactive Performance
Employees who are proactive about taking on new tasks, volunteer for new teams and experiences, and request learning opportunities are those dedicated to success. Encourage that proactive performance by offering promotional opportunities for those employees.
Requested Advancement
An employee who has already asked you for a promotion is one that you should consider if they meet the other qualifications. Those employees are showing a desire to advance and, if overlooked, may seek that career advancement elsewhere. Consider their qualifications for any advancement opportunities and embrace those promotions where possible.
Pursuing Outside Opportunities
When a valued, qualified employee starts speaking with recruiters, headhunters, or competitors about other job opportunities, it’s time to consider possible promotions. They often look outside the company to gain more responsibility, higher pay, and additional benefits. Have open discussions about their desires and look for promotional opportunities to help retain that employee.
Maintaining Your Business Insurance With Staffing Changes
It’s easy to overlook your insurance policies as your staffing dynamics change. Remember that proper coverage addresses liability for your employment practices and general commercial liability protection. Your insurance carrier can help you find the right business insurance package for your employee structure, including protection for hiring practices, promotional decisions, and workers’ compensation. Proactive insurance investment helps to keep your company secure, and solid promotional policies help foster a rewarding work environment.
About Haughn & Associates
Founded by Michael Haughn in 1986, Haughn & Associates is a full-service, family-owned, independent insurance agency based out of Dublin, Ohio. H&A strives to provide the best possible price and unique insurance solutions across a myriad of industries, including construction, IT, Habitation & Commercial Property, Agriculture, and Engineering. Devoted to providing the best of business insurance, life and disability insurance, personal insurance, employee benefits, and bonds, H&A is proof that success lies in long-standing client relations and satisfaction. To learn more about how H&A can be of service to you, contact us at (877) 802-2278.
