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2Q. Promotion from within or outside hiring, benefits, and pitfalls of each approachInternal hiring refers to the process of promoting existing employees for availablevacancies. External hiring, on the other hand, means hiring individuals from outside organisationlike colleges, institutions etc. for the concerned vacancies. The company promotes within itselffor filling vacancies because it boosts the morale of employees, the company is familiar with theold employee, therefore, the trust factor is also there, the training process of these employees alsobecomes easier in an effective way (Erickson, 2017). Other organisations, especially, bogcorporate prefer to hire fresh talent from external sources. This gives them fresh and new outlookfor their important business tasks. A fresh candidate can bring diversified mindset in an effectiveway.ApproachBenefitsPitfallsInternal Hiring1.Internal hiring fillsemployees with motivation towork even well for thecompany. The person whogets hired feels happy towork for a company and eventhose who don't get apromotion feel optimistic fortheir future in an effectiveway (Fracassi & Tate, 2012).2.Candidates hired internallycan be trusted moreeffectively.1.The thinking will remainwithin the box fororganization and no freshoutlook can be obtained(Jacoby, 2018).2.Relying on an unknownindividual for success andgrowth can be risky.2
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