Pros
Hardworking employees & I am required to add 5 words.
Cons
In today's corporate landscape, internal promotion sucks anyway. They'll never give you the pay raise with the promotion that they would have given an outside hire. They say they also give promotions because some people are client facing so they need one more than others. In the end the only people that matter are the investors. You are just another cog. Company loyalty is a sham these days. You're better off job-hopping every few years. If you're desperate to get out of a bad situation, look inside the same company, but you're never going to get paid what you're worth until you leverage yourself as an outside hire. Don't ever, ever, EVER let a company convince you that you and your team are a "family." You aren't. Putting it under the guise of an employee recognition contest or a wall to thank each other. It doesn't matter how hard you work or how loyal you are, because the company will sell you out the exact instant it will save them more money than it costs them. As a worker, you have got to look out for yourself before anything else, because nobody else is looking after you. Especially when someone indicates to you that everyone is replaceable. A company that can spend a large amount on parties can not afford to give their employees the right compensation, makes you wonder. If you refer someone and they get hired, most companies will compensate you nicely, let's say they only give you 10% of what is offered by better companies. Tell your friend to go elsewhere.