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Why are internal sources of recruitment considered to be more economical?
Why are internal sources of recruitment considered to be more economical?
Why are internal sources of recruitment considered to be more economical?
Why are internal sources of recruitment considered to be more economical?
It is the most economical source because the organisation does not have to spend any amount on search for sources of recruitment, nor does it have waste time on long selection process. Moreover, such employees do not require much training. They are already well informed about all the activities of the organisation.
Filling of jobs internally is cheaper as compared to getting candidates from external sources because only transfer or promotion has to be done.It does not involve the long process of staffing or selection.It increases the cost in the form of more time,money and efforts in recruiting.
Internal sources of recruitment refer to the sources that are endogenous to the organisation, that is, within the organisation. There are two ways of filling the jobs internally, namely transfers and promotions. It has an advantage of being more economical than the other sources of recruitment. Filling the jobs through internal sources is cheaper in terms of time as well as money. On one hand, the time spent in the whole recruitment and selection process is diminished to a large extent through internal recruitment. On the other hand, it lowers the cost by saving the expenditure on advertisement and other related processes. Along with this, the money spent on training of the new employees is also curtailed. Thus, in contrast to other sources, the internal sources of recruitment are more economical in nature.