Why your business should have a promotion policy

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There may come a day when it’s time to develop a formal employee promotion policy for your growing business. 

After all, taking on more customers or expanding your business offerings often requires key managers who can take on more advanced responsibilities. It’s helpful if they have existing core knowledge about your business.

But what exactly does an employee promotion policy cover? When should a company consider putting one into place? And what are the benefits of having a promotions policy?

To find some answers, let’s take a closer at the topic.

What is a promotion policy?

Promotion is an employee’s

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