Finance Tips

Recruitment is the process of attracting the employees and stimulating them for applying in an organization .Recruitment is the major function of Human Resource department of the organization.The recruitment process begins with the human resource department when it receives the demands for recruitment from any department of the organization .The department which demands recruitment describes the number of persons required, duties to be performed by the person and qualification required to do the job to HR department. Then on the basis of these descriptions HR department starts the process of recruitment. There are two types of recruitment that is Internal and External recruitment. Internal recruitment is the recruitment within the organization. There are mainly two sources of internal recruitment that are:

Transfer: Transfer means shifting the employees from one department to another according to their efficiency and experience.

It does not increase the responsibility of the employee.Promotion: It means the employees are promoted from one department to another with more benefits and greater responsibility based on efficiency and experience. In this the salary of the employee is also increased.The Internal Recruitment can build a strong loyalty within the organization as the employees have a chance to change their position after a period of time. The advantages of internal recruitment is that it is cheaper for the organization because it saves the cost and time  wasted in the selection and induction of new employees and it provides opportunities of promotion to employees of the organization so the employees are motivated. The disadvantages of internal recruitment is that it does no bring the new skills competencies to the organization and creates another vacancy which is required to be filled. External recruitment mean when the organization looks to fill the vacancy from any suitable applicant outside the organization. The sources of external are:Press advertisements: In this there is a advertisements of the vacancy in newspapers and journals.Educational Institutes: In this companies visit various management institutes, engineering colleges, medical Colleges etc for recruitment.Recruitment at factory gate: This kind of recruitment is for unskilled workers. In this the list of vacancies is displayed on notes board.The advantages of external recruitment are it brings new people to the organization, which can be a huge benefit for the organization and there is a larger pool of applicants from which best candidate can be selected. The external recruitment can be in many situations quicker solutions,mainly in the situation, when the job market is full of potential job candidates. There are also some disadvantages of external recruitment these are like it is an expensive process because interviews and advertisements are required, it is longer process and selection process may not be effective enough to reveal the best candidate.

Article by Jewelry Wholesale

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