IB Business Management Topic 2.4.5 Methods of Recruitment Revision Notes (HL)

IB Business Management Topic 2.4.5 Methods of Recruitment Revision Notes (HL) | RevisionDojo

Written by official IB examiners

Recruitment: Internal vs. External Hiring

Imagine you're the HR manager of a growing tech startup.
Your team needs a new project manager to lead a critical initiative.
Should you promote someone internally or hire externally?
This decision, whether to recruit from within or look outside, can significantly impact your organization's success.

Definition

Recruitment

Recruitment is the process of identifying, attracting, and selecting the best candidates to fill job vacancies.

Step 1: Identifying the Need for Recruitment

Before hiring, a business must determine why recruitment is necessary. This could be due to:
1. Business Growth: Expanding operations require new talent.
2. Employee Resignation or Retirement: Vacancies must be filled to maintain productivity.
3. New Skills Required: A shift in strategy may demand expertise not currently available in the company.

Job Description & Person Specification

Process	Purpose
Description	Defines the role, responsibilities, and expectations. Includes job title, duties, reporting structure.
Person Specification	Outlines the qualifications, skills, and experience needed for the role.

A well-crafted job description and person specification ensure the recruitment process attracts the right candidates.

Step 2: Choosing Between Internal and External Recruitment

Definition

Internal recruitment

Internal recruitment involves filling job vacancies with existing employees through promotions, transfers, or redeployment.

Methods of Internal Recruitment

Promotions: Elevating an employee to a higher position.
Transfers: Moving an employee to a different department or role.
Job Postings: Advertising vacancies internally through company newsletters or intranets.

Advantages of Internal Recruitment

Cost-Effective: Saves on advertising and onboarding expenses.
Faster Process: Reduces time spent on interviews and background checks.
Boosts Morale: Employees see opportunities for growth, increasing motivation.
Reduces Risk: Internal candidates already understand company culture and processes.

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Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit.

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

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Recruitment: Internal vs. External Hiring

Imagine you're the HR manager of a growing tech startup.
Your team needs a new project manager to lead a critical initiative.
Should you promote someone internally or hire externally?
This decision, whether to recruit from within or look outside, can significantly impact your organization's success.

Definition

Recruitment

Recruitment is the process of identifying, attracting, and selecting the best candidates to fill job vacancies.

Step 1: Identifying the Need for Recruitment

Before hiring, a business must determine why recruitment is necessary. This could be due to:
1. Business Growth: Expanding operations require new talent.
2. Employee Resignation or Retirement: Vacancies must be filled to maintain productivity.
3. New Skills Required: A shift in strategy may demand expertise not currently available in the company.

Job Description & Person Specification

Process	Purpose
Description	Defines the role, responsibilities, and expectations. Includes job title, duties, reporting structure.
Person Specification	Outlines the qualifications, skills, and experience needed for the role.

A well-crafted job description and person specification ensure the recruitment process attracts the right candidates.

Step 2: Choosing Between Internal and External Recruitment

Definition

Internal recruitment

Internal recruitment involves filling job vacancies with existing employees through promotions, transfers, or redeployment.

Methods of Internal Recruitment

Promotions: Elevating an employee to a higher position.
Transfers: Moving an employee to a different department or role.
Job Postings: Advertising vacancies internally through company newsletters or intranets.

Advantages of Internal Recruitment

Cost-Effective: Saves on advertising and onboarding expenses.
Faster Process: Reduces time spent on interviews and background checks.
Boosts Morale: Employees see opportunities for growth, increasing motivation.
Reduces Risk: Internal candidates already understand company culture and processes.

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

IB Business Management 2.4.5 Methods of Recruitment Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

Recruitment: Internal vs. External Hiring

Step 1: Identifying the Need for Recruitment

Job Description & Person Specification

Step 2: Choosing Between Internal and External Recruitment

Methods of Internal Recruitment

Advantages of Internal Recruitment

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

Recruitment: Internal vs. External Hiring

Step 1: Identifying the Need for Recruitment

Job Description & Person Specification

Step 2: Choosing Between Internal and External Recruitment

Methods of Internal Recruitment

Advantages of Internal Recruitment

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account