View random article

What Is a Promotion?

A promotion refers to the improvement in a particular rank. This increase in rank could also be partnered with an increase in the person's salary, benefits and responsibility. Many people think that a promotion is a positive thing because it signifies that the person who has been promoted is a useful and vital part of the organization and successful in the tasks and responsibilities given to him. In a majority of offices and other places of work, an employee is always striving to get a promotion and thus enjoy the accompanying benefits of a promotion. A promotion is also a term that can be used to describe an event where there is a major change in status – for example, a graduation.

A promotion will oftentimes mean the recognition of a person's exception work or as an acknowledgment that he is able to assume the bigger responsibilities of a higher position. A promotion is also an indication that the person, if he continues to do exemplary work, will have a long future in the company.

A promotion, seen from a different perspective, also means that the person will have to assume more responsibilities and more work. The level of work may be considered more complex compared to the responsibilities of the previous position. But despite what could otherwise be seen as more hard work, a promotion is still welcomed because of a number of benefits. First is the prestige of being put into a higher position in the company. The increased compensation is also a great benefit of a promotion.

Featured in Finance