Let me ask you this? What do you think is an important asset of the company? Is it all the profits and the money in the previous quarter? Or all of the fine infrastructure you invested in? or the new shiny coffee machine on the? The answer you’re looking for is ‘Employee’

Employees are considered valuable assets to a corporation. A qualified and competent employee plays an important role in the company. It’s through the dedicated teamwork of different employees that there is long-term growth and success in an organization. A competent employee will stick around, represent the business in a positive light and most importantly contribute to the overall growth of the company.

In the same measure, a bad employee or an incompetent one can, easily become the root cause of a company's slow growth and can also be the reason for portraying the company’s image in a negative light. A bad employee or a mishire can also cost the company a copious amount of money too

Therefore, it is mission-critical for every firm to ensure that the first step towards building a strong foundation for the future of the company begins with the strategic recruitment process. It is imperative for any organization from around the world to have a fixed or improved recruitment process that helps you find the best talent, faster than their competitors.

UNDERSTANDING THE IMPORTANCE OF A RECRUITMENT PROCESS:

An organization's recruitment and selection process is crucial to hire professionals who will support the company's values and long-term success. It is important to build a team that will operate efficiently and productively. Hiring and staff retention act as a barometer to gauge a company's success or failure.

When the process of recruitment is executed the right way , the staff will deliver successful outcomes and stay with the organization for a longer period, resulting in a low turnover rate and more productivity. If the employee is not carefully selected, his or her incompetence can lead to financial losses for the company, and we mean serious financial losses for the company.

A recent report shows that nearly 75% of attrition-related issues, that have a possible solution, can be prevented by the company by just hearing out your employee and the concerns they have. This also is improved by enhancing candidate or employee experience.

A poor recruitment strategy leads to hiring a huge number of mishires. This means firing them and starting your recruitment process all over again. This is time-consuming and exhausting for the recruiters, and in the process of all of this, you have lost your potential purple squirrel.

WHAT ARE THE DIFFERENT METHODS OF RECRUITMENT?

Different Organizations use different recruitment methods to hire qualified people. Each profession has different requirements, and each corporation has different needs. That means firms must adopt appropriate recruitment strategies for their environment and the candidates they want to hire.

Below, we'll look at some of the most common recruitment methods used by organizations and try to understand how they work and which method stands out as the best.

Internal recruitment vs External recruitment

Internal recruitment:

When a prospective employee is recruited from within the organization, this is referred to as internal recruitment. This is where there is a provision for existing employees to apply for a new position within the company through the careers page on the website or even by simply requesting the HR manager. Internal candidates are extremely valuable to recruiting managers since they are already familiar with the drill, the company ecosystem, corporate procedures, and the work culture.

Internal recruitment is generally through promotions, transfers, and reemployment of former employees, and professionals who were previously hired on a contractual basis.

Promotion is the most prevalent way of internal recruitment since it allows a person to increase their skill set while preserving the organization's talent. Internal transfers allow individuals to broaden their skill set without taking on more responsibilities.

Recruitment methods in Internal recruitment:

Recruitment through personal records and data of working employees - Reviewing personnel records helps find out about employees who are working in occupations that are below their skill level. It may also indicate individuals with the potential for more training or those who currently have the necessary background for the available positions in consideration. Computerized systems can assist in identifying and considering qualified internal candidates for job openings.

Skill-based assessments: While this is a popular method used to test new hires, this can also be used for existing employees too. This way you know who has progressed since the time they joined and you can also identify the skill gaps in your team or organization. HireQuoteint’s skill-based assessment tools are backed by data with the bare minimum human intervention. The reports or results received from these tests give you a clear picture of who deserves a promotion and who needs to leave, in an unbiased and just manner.

Recruitment through Internal nomination - Some firms take a more limited approach to internal recruitment, asking managers to suggest high-performing employees for internal roles. This is a more informal structure, but it can be quite effective in smaller firms where people are familiar with the work of staff in other departments. Employees in this category become acquainted with the organizational structure, culture, and system. They have the necessary abilities and expertise. As a result, rehiring becomes an appropriate source of recruiting.

This technique, however, often leads to partiality, workplace bias or unlawful discrimination. The repercussions of any of these outweigh the advantages gained by the company by promoting it from the inside. And what better way to avoid this than through skill-based assessments that are backed by reliable data and results?

Recruitment through Internal advertisements (Job postings) - Internal advertising is the process of posting and advertising jobs within an organization. This job posting is an open call to all employees within the organization to apply for job vacancies. It gives equal opportunity to all employees in the organization. As a result, recruitment is done from within the firm, which saves a significant amount of money.

Recruitment through referral - It is the process of employing new resources using the references of present employees. During this process, current employees can refer their friends and family to fill up job vacancies.

Organizations often encourage employee references since it is less expensive and takes less time than employing applicants from external sources. To motivate their staff, most companies offer some type of referral incentive for every successful recruitment that is done.

Pros of the internal method of recruitment:

- The internal method of recruitment is quick, easy, and cost–effective.

- There’s no requirement for induction or training as the candidates already know their job and responsibilities.

- Through internal hiring employees develop a feeling of loyalty towards the organization,

- It motivates the employees to work hard, and develop better work relationships within the organization

Cons of the internal method of recruitment:

Internal recruitment can sometimes prevent potential resources from being hired. New resources always bring fresh perspectives and new ways of thinking.

Internal recruitment often creates tension between the employees who were promoted and those who were not.

It has a limited scope because not all vacant positions can be filled.

External recruitment:

External recruitment, on the other hand, is a means of hiring employees from outside the firm. The bulk of job applications for most positions comes from external candidates. They are expected to bring unique skills to the company, depending on the position being filled, as well as new perspectives and methods that the team might benefit from.

Recruitment method in external recruitment:

- Recruitment through Media Advertisements - One of the most popular methods of recruitment used by businesses is the use of media adverts. The job opening is advertised in various print and electronic media outlets, along with a detailed job description and prerequisites. Using ads is the most efficient means of sourcing applicants in a short period and of screening the candidates' specific requirements.

- Recruitment through Employment agencies – Employment agencies work as a great source of external recruitment. Employment agencies are administered by a variety of sectors, including the private, public, and government. They work to deliver unskilled, semi-skilled, and skilled resources based on organizational requirements. These agencies maintain a database of suitable prospects and charge a certain fee for their services. By filtering out unqualified applicants and discovering qualified ones, an employment agency can save the personnel office a considerable amount of time and save the business money by cutting the costs of recruiting and selection.

- Recruitment through Campus Recruitment – Campus recruiting is another form of external recruitment in which educational institutions such as colleges and universities provide an opportunity for student hiring. In campus recruitment, the organization sends a recruitment team to campus to interview candidates and introduce them to the organization. They serve as the organization's representatives, as well as the organization's first-level screening agent.

- Brochures and other company information are frequently handed to students in conjunction with the recruiter's visit. To attract more students, the organization also run advertisements or holds pre-placement seminars.

- Recruitment through events (Job fairs) - A group of companies will frequently arrange job fairs, which are exhibitions where each company has a stand to market available job vacancies. This method is especially beneficial for smaller, less well-known businesses or startups.

Pros of the external method of recruitment:

1. External recruitment encourages new opportunities for job seekers

2. It has a positive effect on organizational branding

3. There is no feeling of partiality or bias between the employees

4. There’s a large pool of talent to select from.

Cons of the external method of recruitment:

The external method of recruitment is much more time-consuming, and the selection process is lengthy.

The cost incurred during such type of recruitment is very high.

External candidates expect more benefits and remuneration from the company.

INTERNAL RECRUITMENT VS EXTERNAL RECRUITMENT – WHICH IS BETTER?

Internal recruitment and external recruitment both carry their set advantages and disadvantages for the management and employees. Because every organization has unique specialities and industries, it's difficult to predict which one will be superior from an outsider’s perspective. Companies must balance the different aspects that influence effective recruitment. Internal recruiting may be a superior alternative for cost-effective employment, but external hiring may be the best option for building and expanding the business.

However, for businesses that are trying to best utilize a diverse recruitment process while also improving the morale of their existing workforce, a combination of internal and external recruitment will work for all parties.

OTHER RECRUITMENT METHODS:

Online recruitment

Today, most of the hiring is done online, on the internet, and for good reason: the online method of recruitment is both convenient and successful. The obvious benefit of online recruitment is the sheer volume and speed at which the hiring process can be completed. With online recruitment, you can execute a large-scale social media campaign. The job posting can be done free of cost on social media platforms or companies own website. Through job ads, you can connect with people from all over the world, giving you a far better chance of finding the ideal match—especially if the job requirement is remote.

Online recruitment can be effective for both screening and sourcing. Video chat is more convenient and intimate than a phone call for screening prospects. Online recruiting also allows you to employ more complex screening procedures, such as skills assessments, virtual interviews, and requesting audio/video materials from applicants.

Social recruitment

Recruiters use social media sites to discover prospects through social recruitment. It is also known as social media recruiting, social hiring, and social recruitment.

Aside from recruitment, social media is heavily employed in employer branding. These channels assist companies in spreading the news about their employee value proposition and improving their inbound recruitment efforts.

With the steady increase in social media usage, social media recruitment has grown in popularity among recruiters and Human resource professionals.

Internship and apprenticeship

An internship is a temporary period of work experience provided by the organization, whereas an apprenticeship is a system for training a new generation of practitioners of a trade or profession through on-the-job training and typically some accompanying study.

One of the most significant benefits of the recent internship and apprenticeship programs has been a rich field for finding the organization's future leaders at a young age. They can be moulded to the culture of the organization and grow in their understanding of the systems in place while also contributing to the organization's success.

WHAT IS THE MOST EFFECTIVE METHOD OF RECRUITMENT – CONCLUSION:

Recruitment processes in the business world are challenging yet unavoidable and these processes are unique for each company or organization. Managers can always choose between internal and external recruitment while making these decisions. There is no fixed, hard and fast rule for hiring and recruitment. There are always methods that need to be tried, tested and then adopt.

On the contrary, internal recruitment has the benefits of lower expenses, greater stability, safer transitions and of course the freedom of familiarity. in internal recruitment, you already know the learning abilities of the person and the bandwidth they have to learn new methods or skills. Whereas, in external recruitment methods, on the other hand, present a broader selection pool and far more options for finding diverse skills. In the case of external recruitment, you have the freedom to bring in new and fresh talent. But the only drawback here is that you, as an HR manager need to invest time and money in terms of their training, probations etc to hone their skills. One way to go about it is by funding their training programs or master's degrees, but that would still be a cost-heavy option for your company. The cheaper yet effective alternative is to switch to skills and talent assessments. These tools may cost you a yearly or a monthly subscription but it helps you find the right skill and the right talent in a matter of minutes or even seconds.

In our opinion, our money is on skill-based and talent-based assessments. What about you?

Top methods of recruitment to build a high-performing team