HRM: Internal vs. External Hiring

This report analyzes the strategies of promoting from within and hiring externally. Internal hiring boosts employee morale and leverages existing knowledge, but can limit fresh perspectives. External hiring introduces new ideas and skills but involves higher costs and risks associated with unknown candidates. The report presents a table summarizing the benefits and pitfalls of each approach, citing relevant research from Cook & Glass (2014), Erickson (2017), Fracassi & Tate (2012), and Jacoby (2018) to support its analysis. The conclusion implicitly suggests a balanced approach, acknowledging the value of both internal growth and external talent acquisition for organizational success.