Page 129 - Demo

www.gyaniversity.com122Managerial Processes-I Motivation and Retention: Offering opportunities for growth and promotion encourages employees to perform better and increases their loyalty.Lower Risk:Past performance of internal candidates provides a clear indication of their capabilities, minimizing the risk of poor fitness.Disadvantages: Limited Pool of Candidates: Relying on internal talent restricts the diversity and number of applicants.Resentment and Stagnation: If promotions are not handled fairly, it might lead to internal conflicts and jealousy among employees.Skill Gaps: The existing employees may not have the latest skills or perspectives that fresh talent can bring, especially in a rapidly changing business environment.2. External Sources of Recruitment: External recruitment seeks candidates from outside the organization. Methods include advertisements in newspapers or online job portals, campus recruitment, employment agencies, and professional networking sites.Advantages: Larger Candidate Pool: External recruitment opens up the possibility to an extensive and diverse range of candidates, potentially increasing the chances of finding the best match.Fresh Perspectives and Ideas: New hires from outside the organization can bring innovative ideas and approaches that may be lacking internally.Access to Specialized Skills: In industries where specific expertise is required, external recruitment can tap into a broader talent market.Competitive Edge: Attracting high-calibretalent from outside can help the organization stay competitive and adapt to technological and market changes.Disadvantages: Higher Costs: External recruitment can be expensive due to advertising, agency fees, and higher training costs.Longer Integration Period: New hires may require more time to understand the company culture and work processes compared to internal candidates.Risk of Poor Fit: Without prior knowledge of the candidate%u2019s work habits and personality, there is a higher risk of a mismatch between the candidate and the organizational culture.Disruption: Introducing external candidates may sometimes upset the morale of existing employees if not managed sensitively, particularly if they feel their chances for promotion are diminished.