School principals' have a significant impact on student achievement and positive educational outcomes (Beteille et al., 2012; Branch et al., 2013; Miller, 2009; Miller, 2013; Supovitz et al., 2010). There are concerns regarding the high turnover rate and shortage of applicants for school leadership positions currently within the United States (Beteille et al., 2012; Burkhauser et al., 2012; Burkhauser, 2015; Jensen, 2014; Whitaker, 2003). According to research, this current state of affairs significantly impacts high poverty schools (Beteille et al., 2012; Miller, 2013). This quantitative research study aimed to contribute to the body of literature regarding principal retention and investigate whether there is a significant relationship between hiring type (i.e., internal or external promotion) and principal retention in the state of Georgia when controlling for potential covariates. Using information obtained through the Georgia Department of Education (GaDOE) and the Governor's Office of Student Achievement (GOSA), 132 principals were included in the study cohort involving panel data from 2015-2019. Using a conceptual framework based on human resource theories and the internal promotion cycle, a random-effects logistic regression examined the relationship between hiring type and principal turnover. Principal race and CCRPI scores emerged as statistically significant variables in relationship to principal turnover. Although hiring type was not statistically significant, the practical significance of internal promotion in combination with other factors is supported. Insight is provided into identifying leadership candidates, the hiring process, and increasing principal retention rates despite the demands of the job. This knowledge could significantly impact school districts' hiring practices and the development of leadership programs in the educational community.