SOURCES, DEVELOPING AND USING APPLICATION FORMS

Several organisations prefer to fill vacancies via promotions or transfers from within wherever possible. Promotion involves movement of worker from a lower status position to a higher status position accompanied by (typically) changes in duties, status, responsibilities and value. The Tatas, & the Birlas and most multinationals (for example: HLL's Lister programme tracking star performers at an early stage and offering stimulating opportunities to rise vertically) have fast-track promotion systems in place.         

Now the credo is reward performance, but promote competency. In the past, the AV Birla group has placed over 200 people through the fast-tracker system (promoting star performers rapidly). On the other hand, a transfer involves lateral movement within the similar grade, from one job to another. It can lead to changes in responsibilities and duties, working conditions, etc., but not essentially salary. Internal promotions and transfers surely allow people superior scope to experiment through their careers, kindling ambitions and inspiring them to take a shot at something they may otherwise never have considered. Of course, the system, works best for young executives who are eager to take risks.