Just to add to Placements -
Placements involve the hiring of fresh college graduates and providing them with substantial training according to the project requirements.
Recruitment Vs Selection Vs Hiring
Hiring is the time period or the timeframe right from the point where the manpower requisition form was filled until the person joins the firm.
Recruitment is the process of attracting candidates to the vacancy. It involves job postings and communication of the vacancy to all using different modes of communication like:
- Job Boards: Similar to a notice board where all the current vacancies are listed. It can be a traditional pin-it board or the modern online board that informs employees of the current vacant positions in the company for which they can apply or bring in references.
- Job Portals: There are many job portals (Naukri, Monster, and TimesJob being the most used) in the market that allow us to post job vacancies.
- Social Networks: These days, recruiters as well as job seekers use social networking sites (especially LinkedIn, Facebook, and Twitter) due to their popularity to advertise jobs.
- Word-of-Mouth or Employee Referrals: Telling your friends, family, and acquaintances about the vacant position at our place.
The source of advertisement would also depend on the mode of recruitment:
1) Internal Recruitment - By means of:
- Promotion: Increment in designation and pay scale by giving them a better job role.
- Job Expansion: Here the designation is not changed but the job is expanded. Job Expansion can be explained by the following example: Suppose a person is doing IT recruitment for entry level and is performing well. Entrusting him/her to recruit for entry-level Marketing or Operations or other departments as well would mean an expansion of the job.
- Job Enrichment: Here too, the designation is not changed, but the job is enriched as explained below: Suppose a person is doing recruitment for entry levels in the IT sector. Because of good performance, we allow handling mid or senior levels of recruitment in the IT Sector to this person is job enrichment.
- Transfer: Transfer may not always be from one city to another. It can also be from one office to another in the same city (For example, in a city, a company has offices at locations A, B, and C. If a person is working at location A and is asked to shift to location B, this is also a transfer). Transfer can also be within the same location as explained - If the person is working at location A in the IT department and is now shifted to the Sales department of the same location A, it is still a transfer.
2) External Recruitment by means of:
- Campus Hiring: Hiring fresh graduates and providing them training as per the projects.
- Lateral Hiring: Hiring experienced candidates from the market who are looking for jobs.
- Contract Hiring: Hiring external candidates on a contract basis (i.e., for a stipulated time frame); thus, there is no guarantee of job absorption. It can be either on the company's payroll or on a third party (contractor's) payroll.
- Head Hunting: Finding out the best talent in the market for the required role and then poaching them to your firm. Though this is claimed to be an unethical practice.
Selection
This is the process by which we screen the resumes that we have attracted. We need the right set of keywords or key skills that are to be identified in the required candidates and accordingly screen them in or out. A brief job description will always help.
The selection process is also referred to as a filtering process wherein, amongst the resumes you have, you filter out the irrelevant and continue your selection process with the other candidates. It involves the following strategies:
- Telephonic Interview: These days, many recruiters do not waste time on candidates. They judge their communication skills over the telephone and use it as an initial screening round.
- Aptitude Test: This is used to check the technical knowledge of the candidate, especially used in IT and other technical related positions.
- Group Discussion: This helps to understand the communication skills and how the candidate would perform in a highly controversial environment in business meetings. It is used extensively while hiring freshers for management positions.
- Technical Interview: The interview is usually conducted by the HOD or the supervisor to understand the application of the technical knowledge the candidate possesses.
- HR Interview: Usually conducted to understand cultural fit, the seriousness of the candidates, and negotiate the compensation, etc.
I hope I have shed light on some important terminologies that would help you.
All the best