To fill vacancies, hiring managers generally have two options, hiring someone externally or promoting from within. While there are pros and cons of each, there are many benefits to filling that role with a current employee, including these.
Save Time and Money
The Society for Human Resource Management reports that the time to hire has been increasing significantly over the past decade or so. By promoting from within, you’ll get someone in the role much quicker and at a much lower price tag. The cost of filling a vacant position is tied to time – it increases every day it goes unfilled, not to mention there may be existing employees who have to cover the duties of that position, sacrificing their time and productivity too. The time it takes to onboard and train a brand new employee also adds to the overall cost.
While having an applicant tracking system (ATS) will help streamline the process, when you look within your organization to hire, you’ll save significantly on both time and money.
It Provides Motivation
When you promote from within, your employees will know that there are opportunities for career development which helps keep them motivated to work harder, encouraging them to do their best. It creates an atmosphere of optimism that tends to have a positive effect on the entire team, and, ultimately, the entire company. Hiring externally when there may be someone already there who is perfect for the role can have the opposite effect, sapping motivation.
Employee Retention
Not only does promoting from within help to create a more positive environment with employees motivated to work harder, but it can also improve employee retention. People will see that there are opportunities for career growth and will be less likely to look elsewhere. In fact, surveys have found that the most commonly cited reason for leaving a job other than pay is a lack of career growth.
You Already Know the Employee is a Good Cultural Fit
While skills and experience are important, a good cultural fit is also a key piece of the puzzle. When hiring a brand-new employee, their resume may be perfect, but it’s difficult to know whether or not they’ll fit in with the company’s culture. Perhaps they won’t be able to keep up with the fast pace, or worse, have anger issues that make them a loose cannon, creating tension that harms the work environment. When promoting from within, you’ll avoid the friction that comes with having to ramp up someone from the outside instead of bringing in an employee who already embodies the organization’s DNA.
You’ll Bolster Your Company’s Reputation
A great company image will attract the very best talent as the best applicants will do their research on companies before making any commitment. If your organization is known for rewarding employees for their long-term dedication, it not only improves morale, but it will bolster your reputation to keep you competitive in the job market when you’re truly in need of a new hire from the outside.
When businesses need highly skilled employees or even a top executive, they’ll often turn to recruitment companies to find those people. It’s usually not cost-effective to advertise for a skilled worker through traditional routes because candidates simply won’t fit the mold. Businesses might look for a particular HR professional, such as Jason Hanold online, to take advantage of their industry contacts. Recruitment is a complex process, but works brilliantly to fit the right person to the perfect job position.
Initial Recruiter Meeting
As businesses narrow down their employee needs, they’ll meet with a recruiter to convey these necessities. This recruiter meeting gives HR professionals a detailed view of company needs. A master’s degree and five years experience in an executive position might be sought, for example. Recruiters will go over the range of skills a person must have to even qualify for an interview. Businesses must offer as much detail as possible during these meetings, allowing them to receive the best applicants for their company requirements.
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Works Through Networking Contacts
Recruiters take that meeting information and apply it to their current pool of applicants. They’ll access their database and touch base with networking contacts to see who is possibly in the running for this position. There could be more than two positions open, so recruiters often make it a team effort to narrow down their candidates for the given business. This networking period can take a few days to several weeks, depending on the business’s ultimate demands.
Possible Headhunting
Even with strategic networking, recruiters could still come up short with their candidate pool. Many businesses resort to headhunting to find key applicants. For example, an executive employed at an unaffiliated business may be interested in changing industries. A headhunter could schedule this person to meet with the hiring company and see if a new match can be made. Today’s executives tend to move around after only a few years to allow fresh ideas to flow from new hires.
Sitting Down for Interviews
Only when the HR professional has all the candidates selected does interviewing take place. The hiring company sees all the candidates, meeting with the recruiter afterwards. Both sides will talk about the positive and negative aspects of each candidate. The hiring company may ask for several candidates to return for further interviews. If even a few applicants are strong candidates for the position, the HR recruiter performed well.
Evaluating the Candidates
Background checks on all the final applicants can be performed by the recruiter or hiring company. This process is often negotiated, based on each company’s comfort level. In the end, one applicant stands out above the rest for a successful recruitment process.
More people than ever are using recruitment processes to find their next job. You might want to join a social media website that’s geared toward matching professionals with the right networking contacts. These sites are growing in popularity, allowing you to follow and meet all the perfect people for continued business success.
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