Are you struggling to find the right candidate for a role, even after considering all internal options? You’re not alone. In today’s competitive job market, companies need the best talent to stay ahead– but sometimes, the right fit isn’t already on your team. That’s when you should opt for external recruitment. By looking beyond your organization, you get a fresh perspective and access to a much larger talent pool.
In this blog, we’ll dive into what external recruitment is, the advantages and disadvantages of external sources of recruitment, and when it’s the right choice for your company.
What is External Recruitment?
The process of hiring candidates from outside the organization, rather than transferring or promoting internal employees, is known as external recruitment. This method of recruitment typically involves sourcing new talent through:
- Job search sites
- Industry organizations
- Social media
- Job boards
- Networking events
- Employee referrals
- Career fairs
- Social media
- College career centres
- Recruitment agencies
Companies use external recruitment to hire candidates with specialized skills, new approaches, and innovative perspectives.
Key Advantages of External Recruitment
Advantages of external sources of recruitment include:
- Access to a larger talent pool
As an employer, if you rely solely on internal hiring, you limit the number of professionals to choose from. In contrast, external recruitment gives you easy access to a much larger talent pool and increases your chances of finding the perfect fit, significantly.
Moreover, with more applicants to choose from, you can be even more selective and set specific criteria for skills, qualifications, and experience.
- New skills and fresh perspectives
External recruitment lets you hire professionals with diverse backgrounds and innovative ideas. These new employees bring in a unique perspective that can enhance your company’s capabilities, improve overall performance, and result in positive changes at the workplace.
- Boosts efficiency
Bringing in an external hire doesn’t just add new skills– it can actually make your whole team work more efficiently. These candidates often come with specialized expertise and experience in using different systems, and tools that can help you streamline operations and automate day-to-day processes.
Disadvantages of External Recruitment Sources
Now that we’ve covered the key advantages of external sources of recruitment, let’s take a look at some of its disadvantages:
- Higher costs
Hiring from outside your company can be a smart move, but it comes with a higher cost. Recruiter fees, job ads, and background checks can add up really quickly. And even after you’ve found the perfect candidate, there’s still the added expense of onboarding and training to think about.
- Longer hiring process
External recruitment can be much more time-consuming than internal promotions or transfers. You have to go through several job postings, screenings, interviews, and background checks before you even issue an offer letter. These multiple steps can slow down operations and put extra pressure on the existing employees.
- Adjustment difficulties for existing employees
External recruitment can be interesting, but it’s not always smooth sailing. It can be challenging for the existing employees to adapt and adjust to fresh ideas and new ways of working. This can be even more difficult if the new hire is taking on a leadership role. That’s why it’s important to manage the transition closely and carefully.
When Should Companies Use External Recruitment?
While external recruitment is not always the answer, here are some key situations where it can be extremely beneficial for your organization:
- Expanding your business:
Entering new markets or launching a new product? External recruitment allows you to bring in professionals who have experience with the same.
- Filling in skills gaps:
Looking for a specific technical skill that’s missing on your team? Fret not, external hiring is the best way to find the right candidate without long training periods.
- Introducing innovative ideas:
If you want to break old thinking patterns and bring in fresh ideas that boost your company’s success– external recruitment is the perfect approach.
Best Practices for Effective External Recruitment
To get all the advantages of external sources of recruitment, it’s crucial to have the right strategy in place. Here are some best practices for effective external recruitment:
- Be clear about the job requirements
- Use multiple hiring channels
- Clearly display company values, work culture, and growth opportunities
- Conduct thorough assessments
- Make the hiring process as smooth as possible
Conclusion
By now you know that external recruitment is an extremely powerful tool for businesses looking to strengthen their workforce. While it requires a greater investment, the advantages of external sources of recruitment surely outweigh the challenges.
With the right hiring strategies and best practices in mind, you can also hire and retain top talent to drive your company’s success. And if you’re looking for assistance in hiring the best professionals in the APAC region, we’re here to guide you.
With a proven track record of success for over a decade, BGC’s staffing solutions can help you build a strong employee base in Singapore with ease.
Get in touch with us today to learn more!
