Advantages of Hiring Externally

Advantages of Hiring Externally

While internal promotions may be tempting, it’s important to consider the benefits of hiring externally. Bringing in fresh talent can offer new perspectives, diverse skill sets, and increased innovation to your organization. Additionally, external candidates often tend to have higher job satisfaction and retention rates than internal hires. 

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How Many Companies Hire Candidates Externally?

According to a study by Bersin, a Deloitte Company, 70% of organizations surveyed hire external candidates for at least some positions. This suggests that hiring externally is a common practice and is considered a viable option for many companies. Some notable examples of companies that have successfully implemented talent acquisition strategies to target external candidates include Google, IBM, and Microsoft. These industry giants have all recognized the benefits of bringing in external talent to drive innovation and growth within their organizations. 

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Google, for instance, has a robust recruitment program that actively seeks out individuals with diverse backgrounds and experiences. This approach allows the company to tap into new perspectives and ideas, enhancing its ability to solve complex problems and stay ahead in the ever-evolving tech industry.

Similarly, IBM and Microsoft have both invested in initiatives to attract external candidates. By opening up their recruitment processes to external talent, these companies have been able to bring in individuals with fresh skill sets and different industry perspectives, leading to increased innovation and productivity.

Overall, the prevalence of companies hiring externally and the success stories of organizations like Google, IBM, and Microsoft highlight the importance of considering external candidates as a valuable resource for growth and success.

Advantages of External Candidates to a Company

When it comes to hiring for a position within your company, looking externally can bring a multitude of advantages. One major advantage is the diversity that external candidates can bring to your organization. By seeking talent outside of your current employee pool, you can introduce new perspectives, ideas, and experiences. This diversity can foster a more inclusive and innovative work environment, ultimately leading to improved problem-solving and decision-making.

Another advantage is the immediate skills and talent that external candidates can bring to the table. Unlike internal promotions, where there may be a learning curve or training period, external candidates can step into the role with their existing expertise and knowledge. This can save your organization valuable time and resources, allowing for a smoother transition and faster impact.

Hiiring externally provides an opportunity to bring in a younger generation of talent. This fresh perspective can inject new energy and ideas into your company, ensuring that you stay up-to-date with the latest industry trends and technologies.

External candidates can possess skills and talent that do not currently exist within your organization. This can be particularly beneficial when looking to expand or pivot into new areas. By tapping into these external resources, you can gain a competitive edge and drive innovation within your company.

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The Diversity Factor

In today’s diverse and interconnected world, hiring a diverse workforce has become more important than ever for organizations. This is where external candidates play a crucial role in promoting diversity within a company. By bringing in talent from different backgrounds, experiences, and perspectives, organizations can foster a more inclusive work environment and reap the benefits of a diverse workforce.

External candidates can bring unique perspectives to the table. Their diverse backgrounds and experiences can provide fresh insights and ideas that may have been overlooked within the organization. This diversity of thought can lead to improved problem-solving and innovation, as different viewpoints challenge the status quo and encourage creative thinking.

Hiring diverse talent can help organizations better understand and serve a diverse customer base. With a workforce that reflects the diversity of their customers, companies can gain valuable insights into different cultures, preferences, and needs. This understanding can lead to better products, services, and customer experiences, ultimately driving business growth and success.

Research has shown that diverse teams are more effective and productive. Different perspectives and approaches to problem-solving can lead to more thorough and well-rounded solutions. When individuals from diverse backgrounds come together, they bring a wealth of knowledge, skills, and experiences that can complement and enhance each other’s work.

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When Should An Organization Focus on An External Candidate

There are several situations in which an organization should consider focusing on external candidates for a position. One such situation is when the company is looking to bring in new skills or expertise that are not currently available within the organization. Whether it’s a specific technical skillset or industry knowledge, external candidates can bring a fresh perspective and specialized knowledge that can be invaluable to the company’s growth and success.

Another scenario where focusing on external candidates is appropriate is when the company is undergoing a significant transformation or expansion. In these situations, bringing in external talent can help to infuse new ideas and approaches that can drive innovation and propel the company forward. Additionally, external candidates can bring a different network and industry connections, which can be beneficial for business development and growth opportunities.

There are times when focusing on internal talent may be more appropriate. This can be the case when the company is looking to promote and develop its existing employees, fostering a culture of growth and loyalty. Additionally, internal candidates may already have a deep understanding of the company’s culture and processes, allowing for a smoother transition into the new role.

Ultimately, the decision to focus on an external candidate or internal candidate should be based on the specific needs and goals of the organization. Considering both options and carefully evaluating the advantages and disadvantages of each can help companies make informed decisions that will lead to long-term success.

How ThisWay Helps Organizations Find External Candidates

When it comes to finding external candidates, ThisWay offers a solution that is efficient, effective and eliminates bias. Through its “Attract” feature, organizations can upload their job postings to the platform, and ThisWay takes care of the rest. 

By leveraging artificial intelligence and machine learning, ThisWay ensures that job postings are shared only with qualified individuals in their network. This targeted approach saves organizations time and effort, as they don’t have to sift through numerous unqualified applicants. Instead, they can focus their attention on candidates who are the best fit for the position.

One of the key advantages of ThisWay’s approach is the removal of bias. Traditional job boards often perpetuate unconscious bias in the hiring process, which can lead to a lack of diversity and missed opportunities for qualified candidates. ThisWay’s algorithm ensures that candidates are matched with opportunities based solely on their skills and qualifications, creating a more equitable and inclusive hiring process.