The advancement of an employee from one job position to another job position that has a higher salary range, a higher level job title, and, often, more and higher level job responsibilities in an organization, is called a promotion.
2. Promotion
The advancement of an employee from one
job position to another job position that has a
higher salary range, a higher level job title,
and, often more and higher level job
responsibilities in an organization, is called a
promotion.
3. Examples of a Promotion in the Workplace
• HR Assistant receives a promotion to HR Generalist
• HR Generalist is given a promotion to HR Manager
• HR Manager is given a promotion to Manager of Human
Resources and Administration
• HR Manager is promoted to HR Director
• HR Director receives a promotion to HR Vice President
4. How it works?
These new workforce promotions and career pathway models
use digital mapping of companies global resume databases and
employee profile data to perform comprehensive analysis of every
candidate or employee.
The programme also profiles the digital representation of every
job and every skill required for those positions. By comparing the
data, the models provide insight based on past performance as to
whether that particular individual has the skills and track record that
will lead to success.
5. Metrics Used for Promotion Analytics
1. Revenue per Employee: This function calculates the
revenue per FTE (Full-time equivalent). This metric can
also be used to benchmark companies.
Revenue per FTE = Total revenue / FTE
2. Profit per FTE: profit per FTE is a similar metric to the
previous one, but focuses on profit instead of revenue. A
company's profit is total revenue minus expenses. A high profit
per employee is a solid metric of an organisation's financial
healthiness.
Profit per FTE = Total profit / FTE
6. 3. Human Capital ROI: The human capital ROI
is a metric that assesses the value of human
capital (i.e. knowledge habits, and social and
personal attributes).By calculating the company's
revenue dividing this number by the total
compensation and benefit cost that the company
pays its employees, you can calculate a human
capital ROI.
7. 4. Absenteeism Rate: Absenteeism and
performance are highly correlated. Highly
motivated and engaged employee take in general
fewer sick days. Additionally absent employees
are less productive and high absence rates
throughout an organisation is a key indicator for
lower organisational performance.
8. 5. Overtime per Employee: The average overtime
per FTE is a final employee performance metrics.
Employees who are willing to put in the extra
effort are generally more motivated and produced
in terms of work quantity.
Overtime per FTE = Total hours of overtime / FTE
9. Basis of Promotion
1. Promotion on Merit Basis: When the promotion is based
on merit, several factors of an employee are taken into
consideration. Some of them are employee's skill, knowledge,
ability, efficiency and aptitude which are being measured
from qualification. experience and past employment record.
2. Promotion on Seniority Basis: The strategy of promotion
on the basis of seniority, basically involves length of service
or experience of an employee at the same post and in the
same organisation.