What are the Types of Recruitment Sources?
Recruitment process involves searching, screening, interviewing and selecting the right candidates for the desired roles.
There are two types of recruitment methods are available.
1.Internal Sources
2.External sources
Internal Sources: Internal sources is common method of recruitment as it involves hiring via external sources, companies fill the positions through references of internal employees or by promoting current employees to higher positions.
Different methods of Internal Sources:
- Internal advertisements (emails, newsletters)
- Word of mouth
- Internal employee referrals
- Retired employees for temporary or contract positions
- Current temporary/contract employees for permanent positions
- Former employees for part time/freelance or work at home roles
Various advantages of Internal Sources:
Some of the advantages of internal sourcing are as follows:
- No hiring cost and consumes far less time
- No need to provide training
- Build strong relationships with employees
- Used to motivate others to work hard
- Easy to recognize and pick best talents within an organization very quickly
- Employee retention ratio will be high
Various disadvantages of Internal Sources: Inspite of many of the above stated advantages, there are a few disadvantages of hiring internal sources.
Disadvantages:
- The positions of the promoted persons remain vacant.
- No new opportunities for external candidates
- Chance of favourism in promoting some of the employees
- Possibility of dissatisfied talented employees, when their peers are promoted
External Sources: External sources are other method of recruitment as it involves recruiting through external networks, job portals or recruitment agencies. Here hiring managers search for the right candidates via online job portals, social media channels like LinkedIn, facebook etc
Methods of External Sources
- Job portals
- Recruitment and head hunting agencies
- Job postings in newspapers/websites
- Campus recruitments
- Walk-ins
Advantages of external Sources:
Some of the advantages of external sourcing are as follows:
- Creating new opportunities for external candidates
- Best candidates can be promoted
- Lesser chances of favourism
- Flexibility to recruit the best match for the position
Disadvantages:
- Cost to hire is high compared to internal sources.
- External process is time consuming
- Acquiring outstanding candidates is strenuous
- Internal recruiters often lack headhunting skills
- Ought to approach recruitment agencies for best hire
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