The well-known proverb “a bird in the hand is worth two in the bush” highlights the notion that a known quantity holds the same value as an uncertain one. In investment circles, this saying has led to the emergence of the “bird in the hand fallacy” which promotes the belief that present returns are more favourable than potential future profits. Subscribing to such a misguided idea could hinder the expansion of an investment portfolio.
Upon closer inspection, it becomes apparent that the initial allure and advantages are not as significant as they may appear.
When considering hiring a candidate for a job opening, it’s crucial to evaluate applications from all regions. While some employers might prefer local candidates, it’s important not to overlook qualified applicants who reside further away. For further information on investing in potential employees, consider reading our blog on investing in LinkedIn premium.
An Argument Against Internal Promotion
Prioritising internal promotion reflects a company’s dedication to the concept of internal hiring. This recruitment method offers several advantages, including lowered onboarding charges and shorter training periods. Additionally, it provides opportunities for professional growth which could boost employee optimism and negates the requirement to advertise job vacancies externally.
Despite the potential advantages of internal promotions, several challenges are associated with this approach that many companies overlook. When an organisation is expanding quickly, it can be challenging to promote existing employees into higher-level roles, as they may necessitate extra training and adjustment periods. Additionally, employees who have been with the company for an extended period may become entrenched in their ways and be less inclined to propose new concepts. Finally, appointments to these positions are frequently based on informal networks rather than an individual’s abilities and credentials.
This new employee appeared to be overwhelmed from the outset.
The Ineffectiveness of Merging Local Markets, and Why It Should Be Avoided
Although the current job market is constantly changing, certain businesses remain committed to conventional recruitment methods. This often leads to local candidates having an advantage, as they are already familiar with the region and can start working with minimal adjustment period. Furthermore, their familiarity with local culture and values means they are likely to share the same beliefs and attitudes as their colleagues, which can be valuable during decision-making. Additionally, local employees are often more convenient for employers to reach out to whenever needed.
Despite the obvious advantages of local recruitment, the talent pool’s size can prove to be a major disadvantage. For instance, local educational institutions may not provide training that meets a company’s specific requirements. In this case, networking abilities may outweigh the essential skills and knowledge needed, resulting in concerns about future job performance. Moreover, the restricted number of viable candidates frequently creates a highly competitive job market, with companies vying for the same individuals, potentially leading to increased salary expenses.
Why a Global Mindset Makes Sense
Here’s a unique idea: why not search for could-be employees worldwide?
Even if he’s not local, he should definitely be considered for the position.
As technology continues to advance, the pool of qualified candidates for available positions in your organisation will expand considerably. Remote workers can take advantage of these tools to establish a solid connection with the company and avoid drawbacks such as traffic congestion, office politics, and seasonal illnesses that might impact in-office employees. What’s more, these remote workers are as reliable as any other full-time staff member, and are frequently paid significantly less.
If you’re interested in expanding your search for the ideal employee to a global level, it’s highly recommended that you collaborate with a reputable and knowledgeable remote recruitment firm like Works. With a team of international IT specialists, Works can provide you with access to a diverse talent pool and the resources necessary to assess their qualifications and skills accurately to ensure that they’re a perfect match for your company. To learn more about how Works can assist you in your search for the perfect candidate, please visit the company’s website today.
