20 Promotion in HRM | Types of Promotion | Horizontal Promotion, Dry Promotion, Closed Promotion...

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00:00 Introduction
00:33 Meaning of Promotion
01:39 Objective of Promotion
02:08 Types of Promotion

👉 What is Promotion

Promotion in HRM means giving an employee a higher job position in the company. It usually includes more salary, more responsibilities, and a better job title. It is a way to reward someone for doing good work and showing potential. Promotion helps to keep employees happy and helps them grow in their career.
It usually involves:

- An increase in responsibilities
- A higher job title or designation
- A rise in salary or benefits
- More authority or status

👉 Objectives of Promotion

- To reward employees for their performance and loyalty
- To motivate and retain talented employees
- To develop future leaders within the organization
- To enhance job satisfaction and morale
- To fill higher-level vacancies internally rather than hiring externally

👉 Types of Promotion

1.) Vertical Promotion

Vertical promotion means moving an employee to a higher position with more responsibility and authority.

Example: A junior accountant gets promoted to a senior accountant position.

2.) Horizontal Promotion

Horizontal promotion is when an employee moves to a different job at the same level, but does not offer more pay or power.

Example: A customer service representative becomes a sales representative.

3.) Dry Promotion
Dry promotion is when an employee’s job title is upgraded, but their salary or benefits stay the same.

Example: An assistant supervisor gets the title of supervisor but no raise in salary.

4.) Open Promotion

Open promotion allows all qualified employees to apply for a higher position.

Example: A company announces a manager job opening and invites all employees to apply.

5.) Closed Promotion
Closed promotion happens when a company promotes an employee without asking others to compete.

Example: A team leader is promoted to supervisor because they have worked longest in the company.

Note:- Brief explanation in the video
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Видео 20 Promotion in HRM | Types of Promotion | Horizontal Promotion, Dry Promotion, Closed Promotion... канала Student Notes