Committed and motivated workers are more likely to land promotions, and keeping these recently promoted employees is key to supporting business growth. A new study from the ADP Research Institute finds that 29% of people leave their newly promoted position within a month after the promotion versus an 18% departure rate for someone who has not been recently promoted.
One of the reasons that recently promoted employees might be more likely to leave is because they may be approached by recruiters who are actively searching for individuals with their new title or skills. While you can’t directly do anything about that situation, there are three key things you can do to mitigate the flight risk associated with newly promoted staffers:
- Reinforce the credit union’s purpose and how the newly promoted person’s position will help to attain it.
- Be transparent about the details of the person’s new position; make sure they know what their daily routine will look like.
- Develop and train the person toward success in the new role both before and after promotion.
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