It is God who gives true honor or "promotion". It's in the Bible, Psalms 75:6,7, NKJV. "For exaltation comes neither from the east nor from the west nor from the south. But God is the Judge: He puts down one, and exalts another."
It is good to give honor to each other. It's in the Bible, Romans 12:10, TLB. "Love each other with brotherly affection and take delight in honoring each other."
Honoring parents is one of God's commandments. It's in the Bible, Exodus 20:12, TLB. "Honor your father and mother, that you may have a long, good life in the land the Lord your God will give you."