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What are you losing by not getting promoted this year?

Every ambitious professional seeks promotion and ultimately growth in his/ her career graph. The sad thing, however, is that promotion is hard to come by. With almost every employee looking at getting promoted, it’s critical to stay competitive and promotion-ready all the time. It’s because getting that promotion is important for accomplishing your career goals. Even if the truth remains that you can’t get promoted every year, you still can’t afford to miss a chance to get promoted. By missing promotions, you tend to miss out on a number of things even without realizing them and end up making a huge loss:

Money Factor

It goes without saying that by getting a promotion, your salary gets an increment.  Your promotions contribute significantly to your wealth. With an increased salary of yours, you tend to accumulate greater wealth and save that extra income for Chapter Two of your life. It is because the increase in your cost of living with an increased salary of yours is not comparable to the increment you get with your promotion.

Lost Confidence

When we talk of promotions, the money factor is certainly very important. But, equally important are the confidence and emotional boost you get by managing to get the promotion. That feeling of acknowledgement is important to keep you going despite all the stress and hard work that is involved in your job. For many, promotions act as their milestones in the career graphs. They use them to determine how far they are from reaching their ultimate goal. By not getting the desired promotion, disappointment is bound to set in and it can deter you confidence and belief in yourself. You start questioning your abilities and potential. Such an attitude can be detrimental to your professional growth and might even take you back to square one.

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Missed Growth Opportunities

You would agree that an individual with a higher job title tends to attract the greater amount of opportunities even if the other person possesses greater talent but a lower job title. Your job title reflects your experience, seniority and credibility in the industry. You get to play the role of an influential every time you manage a promotion. It can be quite disturbing to miss the alluring career-growth opportunities just because your profile lacks promotion.

Given below are the things you must know in case you’re looking at becoming promotion-ready:

  • Your exceptional performance in the current role is the gateway to your next promotion.
  • Your employer is going to consider your academic history while giving you a promotion. It, however, depends majorly on the role being offered.
  • There is no substitute for an excellent annual performance review.
  • You must possess a vision to become a leader in future within your organization.
  • The performance you deliver must be made visible to the decision makers or stakeholders of the company.
  • You need at least a few influencers or senior leaders on your side so as to support your promotion.
  • By virtue of your work, you must be making some significant value-addition to the organization you’re working for.

Did you recently manage a promotion? Consider sharing with us what helped you get that promotion.

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