Hi Managers! Would you prefer to recruit a manager from outside the company or to promote one of your staff?

Both hiring externally and promoting from the within are important and can be chosen relying on a particular situation in the company. If the company needs new "blood" (because the organization are becoming stagnant), new ideas, new processes, new individuals, then bringing a manager from outside the company can be transformational for an organisation. However, promoting curent employees may be cost-effective, inspring other staff. Internal staff may have strategic understanding of their own company, tacit knowledge and a variety of relationships within the company and outside too.  Now the best choice will depend on the organisation, not an individual thinking.