Previous work experience

No need for acclimating period

Connections already formed

Downsides: less diversity in the company, no new faces and ideas for innovation, not everyone can be promoted

time needed to acclimate to environment

Benefits: Employee has already been integrated into the company and their specific culture/software interfaces. Likely already have built relationships with coworkers and the network within the company. Have already spent money and invested into their initial training.

Downsides: Potentially may not the best candidate for the job, doesn’t bring potentially new perspectives or outside ideas into the organization.

Saves money

Faster tradition

Less training

Familiarly with culture

Status quo, not too comfortably with firm

Lack of outside perspective

Less diversity

Missing out on new talent pools

Negative: There may be relationship issues among the internal market. There would be no biases with someone coming outside of the business.

Different perspectives

Unique skill set

Diverse skill set

Possible more training

Long time to find candidate

Has to earn respect from new team

Saves money

External takes longer to implement in new position

Higher amount of training/more commitment to you as an employee

Higher pay for time in position

Trust is established

Cons:

Power status is hard to navigate

Diversity levels

Training costs

Saving on training