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I agree that it is certainly cost-effective for employers to hire from within, for just the...

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General Management

I agree that it is certainly cost-effective for employers tohire from within, for just the reasons you've stated. But why wouldbeing promoted within one's own company make an employee want tostay and work for a lower than market salary?

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Why being promoted within ones own company would make an employee want to stay and work for a lower than market salary Companies that are able to retain talent do not necessarily offer the best salaries Companies that offer the best salaries do not always exhibit low attrition rates To understand this it is important to figure out what employees value in a company While the compensation is one of the most important factors for an employee there are    See Answer
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