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I am instilling the opposite culture here. We promote from within first.Funny enough a friend was talking on this very subject today plus people that have put their backs into their work for many years never losing time don't ever seem too get a promotion anymore. What's happening to the work force? This appears too have been going on for well over a decade here in UK.
Take me back 30 years you were so much appreciated by the bosses when you treated your colleagues with respect and worked to the best of your ability.
We reward loyalty and try to provide a raise every year. We gave everyone an extra 5 days of PTO and even added 4 paid holidays this year.