Advantages of recruiting senior managers from within the company

Some advantages include:
1.You Already Know Internal Candidates
Explanation: External candidates for a job come with a significant amount of risk. Even when they come highly recommended from reliable sources, there’s still a chance that they’re not going to measure up, stick around, or fit the culture. According to a CareerBuilder survey, the average cost of a bad hire can be as much as $11,000 in small businesses (fewer than 500 employees) and up to $24,000 in large businesses (more than 1000 employees).
2. In-House Recruitment Costs Less to Hire
Explanation: A major benefit of hiring internally is that not only do you avoid a lot of the cost and risk of a bad hire, but you also save on other costs during the onboarding processes. Internal hiring reduces cost because you don’t have to post—and pay for—adds on job boards, use resume databases to find employees, or pay for background checks on internal hires. Presumably, if your internal hires needed a background check, they should already have one.
3. Internal Candidates Already Know the Company
Explanation: Likewise, internal candidates already know whether or not they like the company—they’ve already decided whether or not it’s worth sticking around. If they’re applying for an internal position, it’s usually a sign that they’re willing to invest more career time into your organization. Otherwise, they would be applying for jobs elsewhere. This means you’re less likely to have to replace them soon after hiring because the job, the team, or the organization wasn’t what they expected.
4. Internal Candidates Are Easier to Find
Explanation: In-house recruitment can be much easier. You can broadcast the open position to the whole company in minutes if you choose; then, interested employees know where to take their resume and information if they want to apply. While you may still see some unqualified candidates and have to do a little sifting, your options are usually far better, and the applications come in with much less effort.