Key Considerations for Fast-Track Promotions
Do keep the following "general" but major points in mind:
- An organizational structure with numerous levels of employment affects fast-track promotion since every employee identified for promotion will be treading on the same path of employment levels above him/her.
- Similarly, if your company follows an employment scaling system within each level of employment, the presence of a number of scales will also hamper fast-track employee promotion.
- Also important is to decide what your company's definition of promotion is, i.e., does it mean a change in an employee's employment level OR a change in an employee's employment scale but within the same level of employment? Yes, this is also a general promotion practice in many companies.
- Timeline for Promotions
When does management decide on promotions? This is another prime factor. A practice of determining employees for promotions every two/three years over an annual review will affect fast-track promotion.
- Recommendation and Approval Process
Who recommends such fast-track promotions? If you call it a fast-track promotion but subject it to the approval of the Board instead of recommendations of the immediate supervisor for the CEO's approval, it will hamper timely procedures.
- Finally, being in HR, you cannot help but accept the fact that promotions in Asian culture (APAC region) are more of a social celebration than anything. If you are identifying someone for a fast-track promotion, it means you are making them answerable to their society on the consequences (mostly monetary); hence, no fast-track promotion is worthy if there is no "substantial" % increase in an employee's salary.
Regards.