# data[].attributes.body
promoting internal growth motivates employees to work hard and stay and invest in the company

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Employees may not be prepared due to lack of training.

# data[].attributes.body
Motivates current employees to work hard to move up in company

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Applicant will have a strong understanding of the company and its processes.

# data[].attributes.body
Experience with company

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Employees spend more time with the company and understand the company culture better. They have trained with the company for a long time and already understand their policies and procedures.

# data[].attributes.body
Shows commitment to promotion and advancement opportunities

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I think that internal labor markets are good because it gives employees the opportunity to work their way up through the company and have the opportunity for higher pay. I feel like this would give them motivation to do better

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Motivates employees to work hard by giving them something to work towards

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Motivates employees to work hard by giving them something to work towards

# data[].attributes.body
Can bring in fresh perspectives and people with different experiences

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Unfamiliar with how the company works/might not integrate well

# data[].attributes.body
Less time spent training as you are promoting employees from within the company

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direct training, understanding of work culture, familiar with company values, understands team structures

# data[].attributes.body
Increases motivation to employees within a business to advance in the corporate ladder

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Applicant will work within the accepted work culture and the company suffers from a lack of diversifying knowledge and experience.

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Can bring in ideas from their previous place of employment that might work well at this company too.

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Employees already understand the company

Faster hiring process

Lower training costs

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By encouraging employees to grow within their roles and work hard it creates a company culture that fosters high achievement.

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Employees would not really understand how the job works and what to do unless they get trained

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Employees would not really understand how the job works and what to do unless they get trained

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It limits the diversity of employees to individuals already hired by the company, and organizations may miss out on some key talent by limiting it to just internal hires.

# data[].attributes.body
Coworkers are already familiar with each other, so there’s an easier transition to the promotion.

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Gives room to fresh perspectives and improvements to exiting procedures

# data[].attributes.body
may lack creativity or innovation

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Limited diversity due to internal hiring

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They would be new to the company so there would be higher hiring costs and advertisement costs for the position

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Can have diversity in thought, which would overall help the business trend positively

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Can have diversity in thought, which would overall help the business trend positively

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direct training, company/industry knowledge already established

# data[].attributes.body
Might create conflict between employees

The candidate might not be the best pick

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Might not always have the highest performance as the focus is more oriented towards employee growth and not employee performance

# data[].attributes.body
Motivated employees to stay at the company if there is room for growth. They are also already familiar with the ways of the company and can bring what they learned from previous role to higher role.

# data[].attributes.body
Fewer new perspectives and plateaus diversity within an organization

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Allows for your company to expand its perspectives and gain new intel from a third party source or from past employers of employees.

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Applicant will have different strategies and techniques for accomplishing a task.

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Often hard to find employees with certain skills

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Increases the diversity of applicants and skill levels available to the company.

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Could possibly be missing better qualified candidates by only looking internally.

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brings in new ideas, fresh point of view

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getting diverse and new perspectives from external hires who have various experiences and skills

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There would be an opportunity to find new people with new ideas

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Brings in new ideas from other locations

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Reduces hiring risk since managers already know the employee’s performance.

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Larger pool of candidates

Someone could be highly specialized for this position

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The person’s performance should be exceptionally high which is best for the company.

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May take longer to integrate them into the job/train them than an internal hire

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Not acclimated to the business work structure. May not be adequately trained or experiences.

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may not adjust to work culture, struggle to gain respect or control,

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might limit diversity of overall workforce since you’re only looking internally within the company rather than looking elsewhere where there could be diverse perspectives

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can make current employees feel less valued/threatened

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Skills inside the company may not match what the job requires

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New hires can contribute a new outlook and have new ideas

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Might make other employees angry that they didn’t get the promotion. Also could get to someone’s head and they could turn unproductive.

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Employees feel motivated to perform well because they see a pipeline for promotions.

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External labor markets have applicants with variety of skills to choose from

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People can become too comfortable and begin to slack off

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Creates a sense of loyalty because people see the chance to move up within the company

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It will be more of a closs minded working community, and the competitors would have access to the other job seking individuals that qualify.

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It will be more of a closs minded working community, and the competitors would have access to the other job seking individuals that qualify.

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would have to familiarize with the company

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Larger pool of candidates to choose from.

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Higher recruiting/training costs

Takes longer to hire people

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The person may not be as familiar with company dynamics and may not get along with coworkers.

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Riskier because the employer doesn’t fully know how the person will perform

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lack of outside perspectives and review/evaluation of internal processes and dynamics

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Applicant lacks an understanding of internal culture and policy which will negatively impact the company while the applicant learns about the company.

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Might limit new ideas from outside sources

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Recruitment is a long process and new employee may have questionable reliability

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brings fresh experiences and new perspectives/ideas to the company; might be more motivated because they want to establish/prove themselves since they are new

# data[].attributes.body
motivates workers to work hard

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These applicants have less company loyalty than internal applicants

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Brings a new take and perspective on things

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Due to the company not having previous experience with the employee, they may embellish their skill level to make themselves appear better on applications. If this happens, the company will need to invest additional time/money to either hire a new employee or get the current individual to the proper training level.

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lack of understanding of company culture and the nuances of the company

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More risk involved when they aren't familiar with how the company operates

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may not always fit the role (i.e. finding a ceo would probably look for outside source)

# data[].attributes.body
Companies can improve efficiency by getting employees with the skills they want, rather than developing them within employees.

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Managers may be feel to compelled to promote people based on company precedents rather than if they truly deserve a promotion.

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Promoting from within the company can be beneficial because employees already understand the organization, its culture, and how things operate. This means they usually need less training and can adjust to the role faster. It also motivates employees because they see opportunities for growth and advancement within the company.

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One downside of relying on the internal labor market is that the company may miss out on new ideas and perspectives from outside candidates. The pool of talent is also limited to current employees, which means the best possible candidate might not be available internally. In addition, when someone is promoted, their previous position still needs to be filled.

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Hiring from the external labor market allows companies to bring in new skills, experiences, and ideas that may not already exist within the organization. It also gives companies access to a much larger pool of candidates, which increases the chances of finding someone highly qualified. This can help companies stay competitive and adapt to changes in the industry.

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However, hiring externally can take more time and resources because companies need to recruit, interview, and train new employees. New hires may also take longer to understand the company culture and how things are done internally. Additionally, current employees may feel less motivated if they see that higher positions are often filled by outsiders instead of being promoted from within.

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Are able to get various perspectives on how competitors work and may be able to impart new ideas on the company (diversity)

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Very costly, as it costs a lot more to hire someone externally, than promote someone internally

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Creates a culture of people "deserving" a certain job. There may be a lack of effort imparted as there is a reduction in the perceived effort needed in the company

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Makes people more empowered in the role to take risks as they know what the benefits can be. It may even lead to more productivity and employee citizenship behavior.

# data[].attributes.body
There is more motivation since their are opportunities to advance

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Overlooking some employees/canidates

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Perspective can expand with a plethora of new ideas

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May need more training to better understand their positions

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Some positives of the internal labor market is increase in employee motivation. Promoting within can increase morale, and increase loyalty. There is also a reduced risk with hiring externally, since you already know the skills and capabilities of the employee you promote/hire within.

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Cons of the internal labor market can be limiting the application pool of who should be hired/promoted. An organization can limit themselves by not expanding externally into the labor market. Another con is that the internal labor market can also cause internal competition within the organization causing a hostile environment and culture for employees.

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A positive for the external labor market is that it increases the skill pool of applicants. It provides a wider range of diverse applicants that could carry new skills and perspectives that current employees in the organization do not carry.

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Some cons for the external labor market include longer time frames of hiring, specifically through the recruitment and selection process, which can in time increase costs. This also prolongs the period of time to fulfill a new position for a specific role, which can cause a heavier workload for current employees in the organization, which then leads to decrease in motivation and job performance.

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Higher morale and motivation because opportunities for promotion

Lower recruiting costs

Current employees already understand the company and the culture

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Not as big of a pool of candidates

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There is a larger talent pool. More options and skills. May also bring in new ideas into the company.

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Recruiting costs are usually higher because of advertising, recruiters, onboarding etc. also a longer adjusting period

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Jack Hartman

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Less diversity

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They feel as if they are valued within the company, and have a lot of data on those workers

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New experiences and diversity

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I think there is a lot of access of performance and knowing the business gives you a lot of motivation to work and get better to get a higher pay for example.