I wish more operated this way. No matter how well you do, or what you accomplish, you will never be as successful ($$$$) as someone who joined a women’s leadership club right after their MBA and never worked a real job in their life.
Promoting from within forces you to actual reward value and understand the business.
Imagine working at a company for 10 years and you end up under some total knob as a manager. They don’t help you at all, they’re crap at their job, and you have no chance at moving up because you’ve basically reached a dead end.
Hopefully you have some lateral move you can make but that’s going to cost you time as you endear yourself to another manager (who hopefully is not also a useless prick). And the only other options are bailing entirely and ending up starting over again somewhere else or just sucking it up and staying in that position for who knows how long.
Promoting from within forces you to actual reward value and understand the business.