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Suzy Welch: This is what you need to do to get promoted

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Suzy Welch: Doing your job is not enough if you want to get promoted

Getting a job promotion can be hard work.

You may be doing well in your current position, yet it usually takes more than that to climb the ladder.

"I wish I could tell you there is a shortcut for getting promoted. You know there's not," best-selling management author Suzy Welch said.

However, according to Welch, there is one key thing you need to do in order to advance in your career: over-deliver.

Delivering is "just not enough," she said.

"Instead, you have to generate new ideas, volunteer for hard assignments, beat every quota," added Welch, a CNBC contributor.

jacoblund | iStock | Getty Images

It may also be a good time to try to make it happen. According to PayScale's 2019 Compensation Best Practices report, released in February, employers are more concerned than ever about keeping their workers.

Of the 7,030 employers surveyed, 66% cited employee retention as a major concern, compared to 59% the previous year. However, they were not planning to address the issue by increasing their base pay budget, the study found.

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Separately, SunTrust found that 93% of the 500 small and mid-size businesses it polled in January and February are taking active steps to hire and keep qualified employees. That includes increasing wages (45%), increasing benefits (43%), training current employees to fill vacation positions (31%) and offering additional recognition programs (23%).

Welch believes going above and beyond should pay off for those looking to move up.

"Easy? Of course not, but nothing good ever is and that's why it's worth it."

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Check out Don't worry about getting a perfect credit score—This score is all you need via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.