Maintaining the right talent at your company is critical for its success, so selecting between internal or external recruitment drives may be a pivotal strategic decision for your business.
Simply stated, internal recruitment refers to filling vacant positions with current employees through promotions or transfers within the organization. This method can be both cost-effective and time-saving with faster onboarding for new hires; furthermore it helps preserve organizational memory while remaining familiar with existing processes.
However, internal recruitment comes with its own set of drawbacks. If the role you’re recruiting for requires complex or specialized skills that might make it challenging to find an internal candidate that fits. Furthermore, promoting someone without sufficiently considering their performance could disincentivise them from working hard for future promotions and go the extra mile themselves.
External recruitment entails casting a wider net outside the company walls through job ads, agency referrals, and even headhunting. While this approach can be more expensive than its internal counterpart, external hiring provides access to more candidates with diverse experiences and perspectives as well as speedier hiring as it removes lengthy interviews and training processes associated with internal candidates.
External hires offer your company many advantages, such as fresh ideas and techniques that may help identify problems or implement potential improvements to workflows and processes that might have gone undetected if recruited from within. Unfortunately, external hiring may mean lacking an in-depth knowledge of your culture and ethos – something which can prove challenging when recruiting from outside your own company.
Overall, it’s best to strike a balance between internal and external recruitment drives, depending on the needs of each role. Communicating career advancement opportunities internally can boost morale while actively seeking diversity in external candidate pipeline can ensure you always hire top minds. You can help ease disappointment for unsuccessful internal applicants by providing constructive feedback about why they were not selected or suggesting other roles that may suit their skillset and talents – no one likes being let down!