ternal movement also provides an opportunity to 'back fill' that position, further motivating others to strive for promotions and transfers.
Increased learning - As employees move more frequently not only will they gain more knowledge but they will also develop mechanisms for learning faster when they enter future situations.This will make them and banks more efficient in handling tasks like dealing with customers etc.
Lower 'job failure' rate - because hiring employees that already know the culture and their skill is already known, they set and perform better than external candidates, the job failure and termination rate is generally lower with internal transfers. So by lower job failure they appraise well which ultimates motivate them for job.
More talented employes are available -In banks because the employees are proactively selected and moved faster, there are more and better qualified employees available to managers with sudden or new strategic needs, than when employee self select themselves for movement and by handling various jobs the employee knows every minute detail, so in return banks will get a more talented employee.
More Creative Employees-- Greater creativity is another plus result of job rotation. As employees assume new responsibilities, their minds are open to the opportunities within their tasks, and they are motivated towards their job.
More hiring on entry level - If Most jobs are filled internally through transfers or promotions it allows the banks to do to do almost all of its external hiring at the 'entry level'. This is a good thing because entry-level jobs are cheaper to fill, have a larger candidate pool and give the firm more time to train and assess 'unknown' external hires while they are in jobs where they can do less damage.
Increased productivity - Because highly skilled innovators and top performers are placed in 'the right job,' the productivity and effectiveness of these individuals will be multiplied driving and increase in the effectiveness of the overall workforce.
Employee benefits - Bank Employees receives benefits from faster internal movement including more opportunities for development and learning as well as a faster overall career movement because they are proactively placed in the 'right' job. This helps in getting them motivated which improves the efficiency and productivity of banks.
Better understanding and cooperation - by rotating individuals between different jobs, individuals from both branches can learn to better understand and appreciate the perspective of others. Increased movement helps to break down hierarchical silos and information and talent hoarding. For example, customer relation officer in banks can better understand the problems faced by the customer that have come for banking than cashiers
Improved contacts and relationships - increasing internal movement allows individuals to build their contacts and to strengthen their relationship with individuals outside of the friends team. This give them chance to learn some more things.
Higher retention rates - rapid movement minimizes frustration and burnout. People working in their 'ideal job' are unlikely to find a superior opportunity outside the firm. This motivate the employees.
Leadership development - multiple on-the-job learning opportunities are likely to de
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