Want a promotion? Ask yourself these three questions

Most people seek career advancement. Moving up the ladder gives you additional opportunities, greater autonomy, more chances to think strategically, a higher level of prestige, and (of course) a bigger paycheck. And at some point, you’re going to feel like it is time for you to get that promotion. So, how do you know whether it is the right time to really push for it?

Finding the right timing requires being aware both of your own capacities and the current situation in your organization. The stars have to align for you to be successful in your efforts. Here are three things to consider.

1. Are you ready?

If you’re going to really push for a promotion (and not just hope for one), you have to do your best to be ready to take it on. You’ll never be completely ready for a new position, of course. There are always things you must learn along the way in order to succeed. But, you do want to ensure you have the bases covered.

Operational excellence at your current role is an important signal to leadership in your organization that you are a candidate for a promotion, but it isn’t enough. The higher you rise in an organization, the more that your job is likely to involve strategic insight rather than operational excellence. The capacity to think strategically is not the same as the ability to get things done. So, you have to ensure you have had practice with strategic engagements.

In addition, many promotions involve additional managerial responsibilities (though this is not always the case). Managing others requires a number of additional skills including the ability to provide mentorship to those who work for you as well as the ability to give clear and constructive criticism.

Before pushing hard for a promotion, find out what mix of capabilities it will require. Ask others who have had that role what it entails. If there are obvious gaps in your skills, work to fill them before you push hard to get promoted. You don’t want to get a reputation for asking to be promoted into positions that you are clearly not qualified for.

2. Are the economics right?

Even if you’re completely ready for a promotion, the universe may be conspiring against you. Right now, for example, many industries are experiencing an economic downturn. If your firm is in the mode of cutting costs, then this is probably a bad time to be angling for a role that will pay you substantially more money. Indeed, lots of organizations enter rough patches by thinning the managerial ranks.

If you were hoping for a promotion and the timing is wrong, that doesn’t mean there is nothing you can do. Talk with your supervisor. Let them know that you are aware the timing isn’t right for a promotion right now, but that you’d like to be kept in mind for when business starts to pick up again. That approach has two benefits. It conveys your interest in moving up, but at the same time, it highlights your awareness of the broader situation (which is likely to be an important skill for the new role you want to take).

3. Is the right opening available?

Even if your skills are in place and the economic winds are favorable, there may not be the right opening. Indeed, the higher you rise in an organization, the harder it may be to get promoted, because there are fewer and fewer roles available. National retail organizations, for example, have a large number of management positions within individual stores, but few opportunities for people to take on district or regional management positions. And, there are a limited number of spots in the C-suite of any company.

If your hope is to be promoted inside of your organization, then you may have to wait your turn. Take on assignments that enable you to work with other people at the level of the organization you aspire to be a part of so that you become a known quantity. Continue to develop your skills. Take classes, seek mentorship, and learn from the people around you.

Your initiative will serve as your indication of interest in a promotion while you wait for a role to open up. If you have developed a good relationship with organizational leaders, then you’re doing what you can while you wait for an opening. When it becomes clear that there will be a position, you can then have some conversations with key leaders about being considered for the promotion.

Remember, though, that high-level leadership roles are quite competitive. There are likely to be several other people at your organization who are also qualified for that role. And, your organization may also want to consider outside candidates. When you reach the thin atmosphere at the top levels of a firm, you have to be ready to move elsewhere if your primary goal is to get that promotion.