Promote from Within or Hire External Superstars?

The buzz: Build or buy? Does your company prefer to invest in a current employee’s training to promote them up the ladder, or bypass them for a more experienced, already trained outside superstar? Wharton’s Matthew Bidwell found that external hires are paid 18% more on average, but receive significantly lower performance reviews their first two years and are more likely to get laid off or fired than internal promoted staff. What’s up with this? The experts speak. Dr. Katherine Jones, Bersin by Deloitte: “Success is a lousy teacher. It seduces smart people into thinking they can't lose.” (Bill Gates). Raluca Druta, TEC: “But I loved Narcissus because, as he lay on my banks and looked down at me, in the mirror of his eyes I saw ever my own beauty mirrored.” (Oscar Wilde). Laura L. Stegall, SAP: “We lament the speed of our society and the lack of depth and the nature of disposable information.” (David Ogden Stiers). Join us for Promote from Within or Hire External Superstars?