My employer has provided a great document where it clearly states the expected competencies of each role and what it looks like to get to the next level. It is highly transparent and encourages its employees to pursue growth
The promotion possibilities are there. But I have noticed a focus more on business revenue than structured promotions. The firm I am at is less structured with promotions i.e. you can expect to be promoted from lawyer to associate after X about of years/when off restricted practicing certificate. I do feel like young lawyers are more inclined to shop around if promotions early on with their employer is not clear.
Promotions occur biannually and are based on qualifications at the most junior level, from law clerk to graduate. Once one becomes admitted as a lawyer promotions are discretionary though they are attainable and are based on the amount of time in a certain role and performance.
Promotions based on experience and PQE. It is made very clear how long you need to be in your position until you can be considered for promotion. It did not provide opportunity to explore other areas of law that was of interest to me (apart from a short rotation as a clerk).
I am in a team where I already feel very valued and that my progression is important to the team, I feel this is a byproduct of my specific team and not the firm at large.