Question

1) Evaluate three internal and three external recruitment channels.

2) Analyse one individual, team, plant-wide or corporate-wide incentive system, which is available to organisations. Please refer to its benefits and drawbacks

Answer 1

1) Evaluate three internal and three external recruitment channels.

Human asset can be considered as the most critical asset in the company. The process of recruitment and selection, work with the objective of hiring the right talent, at the right time and for the right job. The recruitment and selection must be in adherence to the culture and value system of the company.

Explanation:

Sources of external recruitment:

1) Consultant:

Advantage: It saves time as they have the ready pool of candidates and they perform background checks

Disadvantage: It is a costly method due to high consultation charges

2) Advertisement:

Advantage: It attracts large pool of candidates and thus company have plenty of options to chose from

Disadvantage: It is time consuming in nature as it involves lot of steps like shortlisting, background checks etc.

3) Employee Referrals:

Advantage: It helps to get a known person on board as the employee who refers acts like a guarantor and it also motivates the employee to recommend candidates

Disadvantage: Only limited candidates can get to know about the opportunity thus limits the options for the company

Internal Recruiting

There are several methods by which a company can utilize internal recruitment to fill a hiring need, some of which are listed below:

• Promotions
• Transfers
• Internal Advertisement
• Freelance to Full-Time Employee
• Retired Employees made Freelancers or Part-Time Workers
• Employee Referrals

advantages

1. Cost-effectiveness: Looking within your business cuts down on external recruitment charges, which are often costly. There's no posting on job boards, either, or paying for any background checks (if that's often a part of your recruitment procedures).
2. Save time: Recruitment is hard work—scouring through hundreds of CVs from recruiters to pick a handful of interview candidates takes a lot of time. Taking a look at your existing workforce to find suitable individuals? It's a real time saver.
3. Employee familiarity: They already know how your business operates, are a proven force within your business, and fit into your company culture. So it's a great opportunity to take talent from within and develop them, making them even more effective within your business.
4. Lower onboarding times: Again, your employees know your business—so induction days and training will be greatly reduced.
5. Improve employee engagement: By promoting from within, it can strengthen your company culture—it shows you value your workforce and there may be opportunities for career progression.

2) Analyse one individual, team, plant-wide or corporate-wide incentive system, which is available to organisations. Please refer to its benefits and drawbacks

The incentive systems are one in which rewards, monetary or non-monetary, are offered to employees and used to stimulate their motivation. The style which is best suited for an individual to a group of people across the organization is the job value-based payments or incentives which not only makes the name and the job of the employee known to all but also gives others a signal of good work or uinn0ovation being rewarded to the people within. The corporate wise incentive systems are made to make the best of people’s motivation and will be focused on business growth and developments.

The benefits are:

· The message gets clear to all that the good performance is rewarded,

· The business can ensure that the man who did well is appraised with an incentive which is a morale booster,

· The money incentive once doesn’t have such cost which may be occurring with a hike of salary which is permanent and may also cause others to ask for the same.

The drawbacks of the system are:

· Every individual is different so the incentives they desire may not be the money but something else which is personalized,

· The money to one may make others in the team who made the job possible with the reward gainer may feel a bit down if its individual.