There are two ways organizations promote employees.
One is by tenure. The employee has been in one role for long enough that they kind of outgrew it. The promotion is often formal and comes at the end of a process. It is about dues and achievement.
The other is by stretch. The employee is given enough space that they can grow into it. The promotion is often informal and comes at the beginning of a process. It is about responsibility and potential.
The way your organization does this has much to do with whether the general belief is that trust should be earned or that trust should be given. And it says a lot about many other aspects of the culture.