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Hot topic: The value of internal recruitment
Recruiting from within is currently a trending topic. While head-hunters and recruiters continue to lure talent from the competition, is the value of internal recruitment being underestimated? It’s not uncommon for recruiters to succeed at finding new applicants, only for the hiring company to struggle to retain the new employee in the long term.
If this scenario sounds too familiar, the first step in assessing the problem is to look at employee exit data and figure out where the organization is falling short. Is it because of a lack of career advancement opportunities? Are they not compensating talent suitably? Is there a problem with the company culture?
These are hard questions to ask, but the answers are invaluable. Retaining talent and putting resources toward recruiting from within has many benefits. Company culture is typically more positive. Employees view internal promotion as an incentive to work hard. The time and money needed to train an existing employee is much less than someone brand new, plus there’s often less disruption to operations.
It’s human nature to want to work for a company where you can learn and grow while feeling secure about your position today and optimistic about advancement in the future. Recognizing the dedication and talent of current employees fosters better relationships and helps to groom future leaders. Succession planning can greatly benefit an organization when the focus is on the potential of existing staff.
Whether you’re hiring for an entry-level position or upper management, recruitment doesn’t stop once the candidate gets in the door. Remember, the process is ongoing. It’s important to help your employees grow within your organization by providing new opportunities and promoting from within. These efforts will be rewarded with increased retention rates which help build a strong company.