Senior Level Recruitment: Internal vs External HiringJune 15
When it comes to senior level recruitment, there are two main options: internal hiring and external hiring. Each option has its own advantages and disadvantages, and the best choice for your company will depend on your specific needs. We support company directors in their recruitment decisions on a daily basis, so we thought we’d share our best advice.
Internal hiring is the process of promoting an existing employee to a senior level position. This can be a great way to reward top performers and to promote from within, which can boost employee morale and loyalty. Internal hires are also more likely to be familiar with your company's culture and operations, which can make for a smoother transition into the new role.
However, internal hiring can also be limiting. If you don't have any internal candidates with the right skills and experience for the position, you may be forced to look outside your company. Additionally, internal hires may not bring in new ideas or perspectives, which can be important for senior level positions.
External hiring is the process of hiring a new employee from outside your company for a senior level position. This can be a great way to bring in new ideas and perspectives, as well as to find candidates with the specific skills and experience you need for the position. External hires may also be more motivated to succeed in a new role, as they will be looking to make a good impression.
However, external hiring can also be more expensive and time-consuming than internal hiring. Additionally, external hires may not be familiar with your company's culture and operations, which can make for a more difficult transition into the new role.
Which Option is Right for You?
The best way to decide whether to hire internally or externally for a senior level position is to consider your specific needs and requirements. If you have an internal candidate with the right skills and experience, internal hiring may be the best option for you. However, if you don't have any internal candidates who are a good fit for the position, or if you need to bring in new ideas or perspectives, external hiring may be the better choice.
Here are some additional factors to consider when making your decision:
- The size of your company: If you have a small company, you may not have the resources to conduct a thorough external search. In this case, internal hiring may be your only option.
- The budget for the position: External hiring can be more expensive than internal hiring, so you need to factor in the cost of recruiting and hiring a new employee when making your decision.
- The urgency of the position: If you need to fill the position quickly, internal hiring may not be an option. In this case, you may need to hire externally, even if it is more expensive.
By carefully considering your needs and requirements, you can make the best decision for your company when it comes to senior level recruitment.