Hiring internally vs externally
When it comes to recruitment, businesses like yours should consider the pros and cons of upskilling your current staff or recruiting external people to fill your business’s needs. Performing a cost-benefit analysis is the first step to seeing what your options are for this type of recruitment; following this consider the following points to help your business make the right choice.
Hiring from within Hiring your current staff in roles with a higher superiority than they currently have could have a range of positive results. Firstly, you know your staff and what they’re capable of, you know their current skill/experience, and hopefully see where they have the potential to grow. Should you choose to hire from within, ensuring that you advertise the position well to suitable staff members is crucial. You may want to be aware that some staff may be comfortable with their roles and want to stick with their current responsibilities, this can be for a range of reasons, including external commitments that affect the hours they would like to work. Additionally, a consideration you may want to make is where your staff want to grow within their careers. For some, their current role may be a stepping stone and having an honest conversation with your staff may help determine their ambitions over the next 5 to 10 years. Another consideration is that, for most companies, hiring internally is cheaper, if you can afford to spread out your current team it is cheaper to hire internally and upskill vs hiring someone new altogether. It also allows you to reward hard work and commitment shown by current members of the team.
Externally A strong consideration is that not everyone wants a bigger or different role within their job. Knowing your staff and asking what they are looking for from their current role is imperative. Hiring externally offers more competition for the role; instead of having a small cohort that may not have the current skills to work for the position/s, you have a wide range of new candidates. However, this process may be time-consuming, particularly if the role is well sought out. Knowing your company's needs and time requirements for this role (if needed immediately, for example) will play a part in this decision, as upskilling staff may not be as instantaneous as hiring a ready-to-go candidate. The other benefit of hiring someone from outside the company is the impetus of fresh ideas into the team which could create healthy competition and benefit other members of staff.
Our team can help you determine whether hiring someone new or upskilling existing staff would be more beneficial and we have the talent and resources to help you with recruitment or staff training.