The Issue: Build or Buy?
One of the most common questions organizations face today is whether to hire externally
or promote from within to fill a vacant position; to build up someone already there or to spend
more on an outside candidate. The problem arises because there are so many sides to each
option, and good and bad consequences for it. There are many people and companies that believe
only internal hires are best since they are already familiar with the company culture and have
been trained in the basic aspects of the company such as safety procedures. There are also many
others who believe external hiring is the way to go every time. They think this because it brings
in fresh ideas and new perspectives. This table from Eric Krell in 2015 describes the different
scenarios in which to pick a direction to take.