Internal promotions bring widely recognized advantages in the workplace, such as boosting morale, saving time and money from recruitment expenses, employee retention, and mitigating risks associated with mismatched personnel or organizational ethos.
According to the Society of Human Resource Management (SHRM) benchmarking report, the average rate of internal promotion stands at 6%. However, thus far in 2023, LEMOINE has promoted 39 individuals, equating to nearly 10% of our core employee base.
This led us to ponder …Why does LEMOINE place such significant emphasis on internal promotions?
To answer this question, we turned to those deeply engaged in staff assessment and advancement within LEMOINE. We asked a sampling of members of our Team, from Human Resources to Service Line Leadership, Operations, and more:
“Why does LEMOINE promote at higher-than-average rates?”
Career growth and development is very important to our organization at LEMOINE. Promotions are the result of high performing employees doing the right things at the right time every day. We continue to focus on the importance of developing our employees, always challenging ourselves to improve at this.
Also, when employees see their peers receive promotions, they know opportunities exist for high performers.
Internal candidates often have a deeper understanding of the company’s needs, challenges, and goals. This familiarity allows them to tailor their skills and contributions more effectively to meet those needs. Given our strong emphasis on nurturing company culture and aligning with objectives at LEMOINE, internal promotions can oftentimes be the most natural and smooth path to drive our strategic goals forward.
As a leader, there is nothing more gratifying than seeing our young professionals work with such commitment and dedication to building the skills necessary to take on more responsibility, which results in their promotions.
Our organization is lucky to have many bright young leaders. Over the past year, many promotions were attributed to relentless drive and grit, the trust and respect our team members cultivate with our clients and their peers, and their unwavering commitment to LEMOINE.
LEMOINE has a culture that is palpable. The employees that foster that culture are invaluable. There’s no better feeling than getting to reward those employees by providing opportunities for them to advance their career at LEMOINE.
CEO Lenny Lemoine is passionate about people. From onboarding to technical training and soft skills, Lenny is invested in LEMOINE’s employee success stories.
When speaking on the firm’s future sustainability, Lenny was quoted in a 2013 article from The Independent stating, “The only way it’s going to be sustainable is if you’re hiring the best, but you’re able to grow them and retain them and create an environment and culture where they feel gratified and they feel like they have a bright future and that they’re developing on an individual basis into being as good as they should be at what they do.”
The Common Denominator
The collective responses and insights we received conveyed a unified message: Relationships. For decades, we have consistently upheld the notion that our success is cultivated by our philosophy of building authentic, lasting relationships. Typically, our focus has been on forging these bonds with clients, industry partners, and communities – all external affiliations.
Yet, in light of our recent realization of our higher-than-average promotion rates, we recognize the significance our culture places on internal relationships. We value personal growth, recognition, and success. This effort has proven that we also value building, maintaining, and leveraging prosperous relationships within LEMOINE. Teams that have worked together in the past can complete projects more efficiently, leading to the highest success rate for us, our partners, our clients, and the communities touched by our work.
As we pursue our Big Hairy Audacious Goal (BHAG) of ranking among Fortune’s 100 Best Companies to Work For by 2027, we are committed to nurturing, advancing, elevating, and celebrating our Brand Promise: The Right People.
Want to join a team built on excellence and relationships? Learn more about careers with LEMOINE!