Explain sources of Recruitment.
Ans. The sources of recruitment refers to the areas of recruitment from which the potential employees can be attracted to apply for the job and accordingly selected. The sources of recruitment can be broadly divided into two groups :
(I) Internal Sources : The internal sources refer to sources from within the company. The various internal sources are as follows :
1. Promotions : When a vacancy arises at a higher level, qualified and experienced employee from within the company can be promoted at the higher level. For instance, an understudy candidate may be promoted to the post of his superior who has retired or promoted or transferred.
2. Transfers : The vacancy can also be filled through internal transfers. An existing executive who is experienced and capable of handling the duties in the new department can be transferred.
3. Retired Managers : At times, retired managers may be recalled, especially for a short duration, when it is difficult to find a suitable candidate for the post from which the manager has retired. Again, young mothers may retire early to take care of kids. Once the kids grow up, the company may recall such employees.
4. Internal Advertisements : The company may also display on its notice boards or inform the departmental head of a vacancy at executive levels. Accordingly, interested candidates may apply for the position.
(II) External Sources : It refers to sources from outside the company. It includes :
1. Management Consultants : Some companies take the help of management consultants to select executive personnel for their organisation.
2. Advertisements : This is one of the most popular source of recruitment. Advertisement of the vacancy can be inserted in newspapers, or business magazines. The ads can also be placed on the job related web-sites on the internet.
3. Campus Recruitment : The company may also inform management institutes to send candidates studying management courses in such institutes. At times the company recruitment committee may personally visit the institute campus and recruit and candidates. There can be recruitment of summer trainees who are presently studying in various institutes.
4. Recommendations : The company may also recruit executives on the basis of recommendation received from existing managers or from sister concerns.
5. Other External Sources : There can be various other external sources, such as head hunting, deputation of personnel by parent company, etc.