Answered by Tom, Hiring Expert at VF Corporation, on Friday, June 1, 2018
Generally, I would say you will progress faster by transferring between many different firms. Many employers have not yet figured out how to best move and promote talent internally, despite their best intentions. Of course, there are exceptions and they will often be companies highly ranked on "best companies to work for" lists.
Also, now is a great time to explore other companies and opportunities because of such a robust job market. Unemployment is historically low in many places and qualified talent is scarce across many jobs/industries. As such, there is a lot to choose from and risk is low. If it doesn't work out, their be another job available soon. This lends itself to the faster promotions you suggest. If the job market turns/economy falters, it is often better to stay with your current company.