two advantages of internal requirements
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1. Recruitment costs are lower
If budgets are tight, then hiring internally can save you money because you won’t need to employ recruitment agencies or advertise. A study by Oxford Economics revealed replacing members of staff can cost more than £30,000 per employee which includes the cost of lost output while replacing an employee, the recruitment costs and the cost of lost time while getting them up to full productivity. If you’re hiring internally, you will have someone who already knows the business and can hit the ground running, becoming fully productive in a much shorter period of time.
If budgets are tight, then hiring internally can save you money because you won’t need to employ recruitment agencies or advertise. A study by Oxford Economics revealed replacing members of staff can cost more than £30,000 per employee which includes the cost of lost output while replacing an employee, the recruitment costs and the cost of lost time while getting them up to full productivity. If you’re hiring internally, you will have someone who already knows the business and can hit the ground running, becoming fully productive in a much shorter period of time.
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