The Daily Stat: External Hires Struggle at First but Surpass Their Home-Grown Colleagues

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile FEBRUARY 7, 2013 External Hires Struggle at First but Surpass Their Home-Grown Colleagues People who are hired from outside the organization are paid 18% to 20% more than internal candidates who are promoted into similar jobs, says Matthew Bidwell of The Wharton School. External hires receive significantly lower performance evaluations during their first two years on the job and are more likely to quit or get fired, but they eventually learn the ropes and surpass their home-grown colleagues: If they stay beyond two years, they get promoted faster than employees who were hired internally, the research shows. Source: Why External Hires Get Paid More, and Perform Worse, than Internal Staff Share Today's Stat: FEATURED PRODUCT Playing to Win: How Strategy Really Works HBS Press Book Two of today's best-known business thinkers get to the heart of strategy—explaining what it's for, how to think about it, why you need it, and how to get it done. And they use one of the most successful corporate turnarounds of the past century, which they achieved together, to prove their point. A.G. Lafley, former CEO of Procter & Gamble, in close partnership with strategic adviser Roger Martin, doubled P&G's sales, quadrupled its profits, and increased its market value by more than $100 billion in just ten years. Now, drawn from their years of experience, this book shows how leaders in organizations of all sizes can guide everyday actions with larger strategic goals built around the clear, essential elements that determine business success—where to play and how to win. ADVERTISEMENT Follow the Stat: BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's 10 Must Reads Boxed Set HBR Guide to Persuasive Presentations HBR Guide to Better Business Writing HBR Guide to Getting the Right Work Done PREVIOUS STATS Men Feel Powerful After Briefly Interacting with Powerful People Why There Are So Many Low Buildings in Chennai and Mumbai Ambiverts Sell Better than Extroverts If You're Looking for Reasons Not to Sit on a Stability Ball at Work... China Produces Outsized Numbers of Super-Rich Women Reaffirming Your Core Values Helps You Perform Better After 9/11, Road Deaths Rose as Americans Avoided Flying The Fourth Great MBA Applicant Interviewed on a Given Day Is Less Likely to Get a High Score Google Discovers the Optimal Lunch-Line Waiting Time If You're a Specialist, You're a Victim of Bias Introducing Mobile ManageMentor Powered by the proven content of Harvard ManageMentor™ iTunes >> Android >> UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "The Daily Stat" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2013 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)