Promotion and Types of Promotion:
As a part of career management companies move the employees from one level to another level and from one job to another job within the company. This referred to as internal mobility. Promotion plays an important role in Employee Satisfaction. It helps in employee engagement, improves morale, reduces absenteeism, and finally improves productivity.
Promotion is a process of internal mobility when an employee is moved from one position to another with higher rank and responsibilities. Employee is given hike in pay also.
It is assigning higher level job to an employee within and this upward movement is called promotion.
Promotion is advancement of employee to a better job in terms of higher responsibility more prestige and increase pay. Main conditions of promotion are
- Reassignment to higher level of job
- Delegation with greater responsibility and authority
- Higher pay
Types of Promotion:
Organizations offer numerous benefits to their employees in order to bring them for better performance. Based on such benefit promotion can be categorized in following types
- Vertical Promotion
- Horizontal promotion or Up-gradation
- Dry Promotion
Vertical promotion: Under this type of promotion employee is moved to next higher level accompanied by greater responsibility authority pay and status. Due to vertical promotion it can also change the nature of the job as well. This can be a promotion from sales executive to sales manager, both include different jobs.
Horizontal Promotion: This kind of promotion gives an employee an increase in salary but little to no change in responsibilities. It is also referred as an up-gradation of an employee. For example when in an educational institute an employee is the moved from lecturer to senior lecturer. There is no change in job responsibilities but pay grade is increased.
Dry Promotion: Dry promotion is referred to promotion of employee to higher rank with higher responsibilities but there is no increment in salary of the employee. Employees are not much pleased when they get such kind of promotion as it does not provides any financial benefit. For example, a professor in a college is promoted as Head of the Department. It is just an increase in work responsibility and status without any hike in monetary benefits.