Finding talented candidates in today’s market is a challenge. From low unemployment to baby boomer retirements to skill gaps and more, employers are struggling to find well-aligned candidates. However, by growing your talent pool from within, you can find great candidates and control recruiting costs.
Internal Candidates Save Time
Promoting from within removes any uncertainty about a candidate’s cultural alignment, one of the biggest factors for success. You already know who they are, how they work and how they fit in with the team. Those candidates are also familiar with the company. They know processes, procedures and people. Onboarding time for an internal candidate can be slashed, as it eliminates orientation and the unproductive ramp-up time associated with outside hires.
Promoting From Within Reduces Time to Hire
Sourcing, attracting, hiring and onboarding outside candidates takes a considerable amount of time. Depending on the level of the position, the skills required and the market, it can take anywhere from six weeks to six months to fill an open role, costing upwards of 20% of the job’s salary. Each day a role goes unfilled means lost resources, time and money. By looking internally, you can reduce time to hire significantly, controlling recruiting costs and the costs associated with unfilled positions.
Internal Candidates Boost Productivity
Talented professionals want to see a clear path for growth with your organization. Promoting from within shows employees the company is committed to their development. Team members who are hardworking and ambitious will ramp up their productivity when they see a path for advancement.
The Potential Negatives
There is a downside to everything, and while growing your talent pool from within is a smart idea, it does have some drawbacks. Too much promotion from within can lead to a lack of innovation, the perpetuation of stale ideas and stagnation. Promoting the wrong person just for the sake of promoting someone can also have dire consequences when it comes to productivity and morale.
These pitfalls can be prevented by hiring both internally and externally, depending on the role. Any time you promote from within, you will have to fill the vacancy left by the elevated employee. If you are looking for ways to improve the recruiting and hiring process at your ag business, contact the agricultural industry staffing experts at Morris Bixby Group. Our proven strategies for success can help you achieve your recruiting goals.