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So let’s say there is a skills gap in your company. If budgets allow, your first inclination might be to hire someone from outside the company to close that gap. After all, there are some people who know how to look great on “paper”, and a stunning resume can make any company leader salivate over the potential of hiring a “rock star” employee.

While that philosophy works in certain situations, new research suggests promoting an in-house employee may actually perform better than hiring an external candidate.

The research, conducted by University of Pennsylvania Wharton School of Management Professor Matthew Bidwell, claims external hires actually get lower performance evaluations during their first years on the job than internal workers who are promoted into similar jobs, according to Knowledge@Wharton, the online journal of the Wharton School. In addition, external hires have higher exit rates, and can be paid up to 20% more than internal candidates.

Managers and leaders lead extremely busy lives from the start of their day to the end. So whenever they do get a break in their day, they most likely surf the Internet, take a nap, or actually eat their lunch… Continue Reading →

Diversity is talked about often. A sad reality however, is that some workplaces don’t do the best job of respecting employees from all walks of life. Now, keep in mind we aren’t trying to start a political discussion. After all, diversity isn’t just a… Continue Reading →

After years of blood, sweat, tears, and too much caffeine, you have finally earned yourself a management role. So why aren’t you happier about this? Well, turns out not all managers are living the high life in their personal offices… Continue Reading →

Summer is long gone. We have put the flip-flops and shorts away and have embraced jeans and jackets. While the holiday season will be here before you know it, the next few months could serve as the perfect time to… Continue Reading →