Recruitment is the only industry that has presented particularly difficult problems when discussing the post-pandemic global pandemic, primarily in charge of the future tendencies in all the international sectors. According to a McKinsey & Company survey, around half of the employees who left their jobs voluntarily during the epidemic are not returning on their own. This reality means that firms must rely increasingly on external hiring, where they must go outside the company for possible talent.
Observing the significant employee turnover rate that occurred in 2021 after “The Great Resignation Trend.” Your recruiting team will benefit from this online recruitment software and this article’s improved understanding of external hiring, which gives you the most recent information on the practice and summarizes its benefits and drawbacks.
Let’s describe external recruiting before moving on to further details.
What is External Hiring?
External recruiting refers to filling a job opening by selecting a qualified applicant from outside the business instead of using one of its current employees. Here, under the criteria provided above, we have outlined the most recent techniques for external hiring.
External Recruitment Channels
External Hiring via Various Job Portals
Preparing job descriptions for the available positions and publishing them on various job sites marks the start of the full hiring process. According to estimates, more than 80% of job openings are filled via one of the many job boards.
Every recruiter may now take advantage of integrations with several free job posting websites thanks to automation in the applicant tracking system, which has increased hiring effectiveness. In addition, since most millennials and Gen Z look for employment on job portals, it is a cost-effective strategy to attract potential talent by enhancing your employer’s brand.
Recruiting on social media
92% of businesses utilize social media for improved hiring, according to research by the social recruitment company CareerArc for 2021. Before hiring a candidate, recruiters may verify their social media background using sites like Facebook, Instagram, LinkedIn, and Twitter.
Whether you need employees with specific expertise and skills or contract employees, recruitment agencies are one of the most efficient sources of external hiring because they serve as a medium connecting organizations and candidates easily as per their requirements. In addition, in exchange for a fee of roughly 15% to 20%, HR recruitment software and agencies assist employers in finding the best talent.
Employee recommendations for outside recruiting
Employee recommendations are becoming more and more significant as the labor market develops. According to figures from 2022 about employee referrals, 45% of referral recruits have stayed on for more than four years, compared to 25% of hires made through job sites.
Career page for the business
Another important tool for attracting and locating the top candidates is your company’s job website. Most of the time, they visit the company website before applying, which enhances the likelihood that highly skilled candidates will check out your firm’s website and brand value before applying for job opportunities.
Regardless of the previously suggested external employment techniques that would be more advantageous after the epidemic, virtual hiring has already occurred. In addition, recruiters in particular industries continue to employ conventional approaches, such as job fairs, events, online recruitment software, on-campus recruitment, and print advertising.
Since every coin has two sides, we’ve come to the following conclusions on the benefits and drawbacks of recruiting externally:
Advantages of external hiring
It increases the likelihood of discovering the ideal individual for the ideal position. It promotes inclusion, equality, and diversity at work.
Finding talent outside the company has the main advantage of giving the company a fresh perspective because of a different attitude, new ideas, and new talents.
It promotes a healthy work environment where current employees are motivated to learn more to complement new abilities, resulting in improved employee growth and more competitive businesses.
Disadvantages of external hiring
One of the key reasons why recruiters prefer external recruiting is because it may be a drawn-out and time-consuming process.
The entire cost goes up since hiring managers frequently spend a lot of money on pricey job portals, recruiting firms, and other necessary fees to find the finest candidates.
Since 30% of new employees quit the job simply within six months owing to a lack of training and development, external recruiting entails a substantial turnover risk for new hires. The factors also include the perks, pay, and work environment.
All recruiter’s priorities have changed significantly due to recent recruitment trends. This heavily emphasizes workforce management tools, automation, diversity, equity, inclusion in the workplace, and remote and flexible work to make external recruitment more beneficial.
So, employers must establish brand-reputation-boosting strategies because they ultimately aid in retaining skilled existing employees