Promoting an internal man

Your instinct should always be to promote a strong internal candidate sooner than later instead of recruiting from outside because the internal man has not put in two to three years in the company and in the job.

It's good for the individual who gets to build his skills and experience without the nonsense of marking time.
(Jack and Suzy Welch - 2008 New York Times, Reprinted in Mint, India, 9 June 2009)