The recruitment problem is a common challenge for all businesses. It is often difficult for companies to manage this task effectively because the process of recruiting can be overwhelming. Companies must constantly improve their hiring practices. This is a process that requires skill and attention, investment, skill, and skill.
This article will explain the differences between internal and external recruitment, and how to use both to hire the best candidate for your job.
What is INTERNAL RECRUITING?
The difference between internal and external recruitment is whether an employee is being hired internally or outside of the company to fill a position. A strategy for internal recruitment is essential when hiring new employees. This strategy boosts employee confidence and encourages staff retention. It is a win-win scenario, if you ask us. There are two types of internal recruitment methods.
PROMOTIONS
Promotion is the most popular way to do internal recruitment. If they are performing well in their current jobs, all junior employees can interview for this job.
Senior management may be able to promote employees automatically if they believe they are competent enough to accept the new opportunity. Sometimes, it involves training and grooming the employee of preference in advance.
TRANSFERS INTERNATIONAL
Internal transfer is the act of taking employees from one area of the company and transferring them to another. This type of transfer leaves behind a new vacancy.
PROS and CONS of INTERNAL RECOVERY
Let’s briefly discuss the pros and disadvantages of internal recruitment.
PROS
It will save you money, first of all. There are no additional charges for job boards, marketing and application processing.
You will save a lot of time by hiring internally. It is time-consuming and hectic to post a job, review CVs, interview one million people, then finally make the decision to hire.
Your employee is already familiar with the company’s processes, workflow, teams, tools and processes. It doesn’t take much time to help them understand each detail.
Internally, hiring can boost the morale and work efficiency of existing employees.
CONS
It is a fact that hiring internal staff can severely limit your talent pool. While you can only choose from those within your company, there may be someone else who is more qualified for the job.
You can instantly create a new vacancy by hiring internally.
Your company’s culture could stagnate, which can lead to feeling stuck in the past.
What is EXTERNAL RECRUITMENT?
External recruitment is, as the name suggests, the process of filling a job opening by recruiting an employee from another company. This is a great way for talent to be discovered and the best person to fill the job. It gives your company an opportunity to meet new people with different perspectives, ideas, and work styles. There are many ways to find candidates outside of your company. Below are the most requested ones.
JOB POSTINGS
The best and most trusted way to find a new employee is to post the job. These days, job postings don’t have to be limited to newspapers. Post the job anywhere you like: social media, traditional newspapers, job websites, company websites, etc.
RECRUITMENT AGENTS
There are many advantages to using recruitment agencies instead of job postings. Many agencies can help you find the right candidate. This will be a significant expense. It will save you a lot of time searching for the right candidate. Remember that not all agencies are the same. Make sure you choose wisely.
SOCIAL MEDIA
Social media is an integral part of modern life and a useful tool for recruiting candidates. However, there is one drawback to social media. It is free and easily accessible so you may get many candidates who aren’t right for the job. You will also have to go through many CVs.
EVENTS FOR CAREERS
Another popular option for job ads is Career Events. Career events are a great way to meet potential employees face-to-face.
REFERRAL PROGRAMS
Although many people don’t believe it, we are confident that it is one of the best ways to hire qualified candidates. We recommend it to anyone in your company who hasn’t tried it.
EXTERNAL RECRUITMENT: PROS and CONS
Let’s look at the pros and cons of outside recruitment.
PROS
Begin by learning new skills, and you can say goodbye to stagnation.
External recruitment will give you a vast pool of candidates. This means you will be able to find more qualified candidates.
You will gain a deep understanding of the competition by hiring externally. The new candidate will have a wealth of experience and skills, as well as new insights into the operations of others.
CONS
Because there are so many things to do, the onboarding process can take a while.
High turnover is possible because of the overwhelming feelings that new employees have in their new workplace.
Externally hiring is expensive, regardless of whether you outsource the job to someone else or do it yourself. Your budget will be affected by the increasing cost of advertising a job on different platforms.
When hiring someone externally, be aware that there is almost always a notice period.
CHOOSING INTERNAL OR EXTERNAL RECRUITMENT
Both internal and external recruitment have their own advantages and disadvantages. This makes the debate complex. Any business should not choose one over the others. Combining both of these approaches to recruiting for vacant positions is the best approach. It is important to assess the task and choose which route to follow.
This post was written by Tara Kintz. Tara is a director at Signature Workspace. Signature Workspace, owned and operated by Cantor Fund Management, offers services and amenities such as private offices, flex space, co-working space, virtual offices, meeting/conference rooms, and more.
