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Nature of Hiring

The document discusses 7 different types of hiring: apprenticeship, outsourcing, permanent hiring, temporary hiring, contractual hiring, full-time employment, and part-time employment. It provides brief definitions and lists advantages and disadvantages for each type. Apprenticeships involve on-the-job training, outsourcing involves hiring another company to perform work, and permanent positions have no predetermined end date. Temporary, contractual, and part-time roles have fixed or limited durations. Full-time roles include benefits but can limit flexibility and experiences.

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259 views4 pages

Nature of Hiring

The document discusses 7 different types of hiring: apprenticeship, outsourcing, permanent hiring, temporary hiring, contractual hiring, full-time employment, and part-time employment. It provides brief definitions and lists advantages and disadvantages for each type. Apprenticeships involve on-the-job training, outsourcing involves hiring another company to perform work, and permanent positions have no predetermined end date. Temporary, contractual, and part-time roles have fixed or limited durations. Full-time roles include benefits but can limit flexibility and experiences.

Uploaded by

PUNEETH
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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SHORT NOTES

DIFFERENT TYPES OF HIRING

1. APPRENTICESHIP
It is a system of training a new generation of practitioners of a trade or profession with on-
the-job training and often some accompanying study (classroom work and reading).
Apprenticeships can also enable practitioners to gain a license to practice in a regulated
profession.
Most of their training is done while working for an employer who helps the apprentices learn
their trade or profession, in exchange for their continued labour for an agreed period after
they have achieved measurable competencies.
Apprenticeship lengths vary significantly across sectors, professions, roles and cultures.
People who successfully complete an apprenticeship can be offered a permanent job at the
company that provided the placement.
Advantages:

 Cheap rates
 Personal rewards
 Menial risks
 Enthusiasm is contagious
 New ideas
Disadvantages:

 The apprenticemay be costing more than we think


 Constant training
 Required commitment
 Train up and leave

2. OUTSOURCING
It is an agreement in which one company hires another company to be responsible for a
planned or existing activity that is or could be done internally, and sometimes involves
transferring employees and assets from one firm to another.
The term outsourcing, originated from the phrase outside resourcing
Outsourcing is also the practice of handing over control of public services to private
enterprises, even if on a short-term limited basis.
Outsourcing includes both foreign and domestic contracting, and sometimes
includes offshoring (relocating a business function to a distant
country)or nearshoring (transferring a business process to a nearby country).

Advantages:
 Don’t have to hire more employees
 Access to a larger talent pool
 Lower labour costs
Disadvantages:
 Lack of control
 Communication issues
 Problems with quality

3. PERMANENT
In this form of hiring, Permanent employees, regular employees or the directly employed,
work for an employer and are paid directly by that employer.
Permanent (regular) employees do not have a predetermined end date to employment.
In addition to their wages, they often receive benefits like subsidized health care, paid
vacations, holidays, sick time, or contributions to a retirement plan.
Permanent employees are often eligible to switch job positions within their companies.
Advantages:
 More financial security and job stability, reducing stress levels for candidates,
therefore enhancing their performance
 More motivation to perform
 No stress of finding another job
 Develop long term friendship
 Team oriented environment
Disadvantages:
 Additional costs to company in form of benefits
 Employees look for change
 Extensive recruitment efforts that are costly and time consuming

4. TEMPORARY
It is an employment situation where an employee is expected to remain in a position only for
a certain period of time.
The employees may have the opportunity to achieve permanent employment status after the
time period has lapsed.
They are also referred to as seasonal employees or temps
Employment term may be based on the completion of the project, the availability of funding
or other circumstances

Advantages:
 Can provide special skills
 Can develop good relationship for future staffing
 Can test candidate potential in advance
 Cost effective
Disadvantages:
 Training can be time consuming and costly
 Extra assistance may be needed
 May also be working for other employees

5. CONTRACTUAL
Contractual hiring is a term used for hiring temporary manpower who work on a contract
basis. The contract period is fixed and the company has the discretion to terminate or
continue the engagement after completion of the period. The payment will be on fixed terms
with some provision for increment (usually predetermined). The contract hire is not given
statutory benefits. Instead they are given a consolidated pay minus applicable taxes.
Advantages:

The advantages to the employer are that he saves up on benefits and gets to terminate
the employment without any hassles, after the contract period. This is a good way for
employers who have seasonal businesses.

Disadvantages:

The tough part is that getting good employees under contract is quite tough as more
people prefer permanent employment than contract engagement due to its several
disadvantages. Those who do take it up are those who come for contract work in the
hope that they may be taken on the rolls of the company later on as currently they are
unable to get an employment. Sadly, in most cases, the employment is terminated as
such manpower lacks quality.

6. FULL TIME EMPLOYEES

Full-time employment is employment in which a person works a minimum number of hours


defined as such by their employer. Full-time employment often comes with benefits that are
not typically offered to part-time, temporary, or flexible workers, such as annual leave, sick
leave, and health insurance.

Advantages:

 Holiday and Sick Pay


 Job Advancement is Easier
 Companies Offer Insurance Benefits
 A Fixed Salary

Disadvantages:

 You Become Stagnant


 Realising Your True Potential is Hard
 Buying and Selling Services Become Blurred
 Your CV is Boring and Lacks Various Experiences
 Job-Hunting Becomes Difficult

7. PART TIME
A part-time contract is a form of employment that carries fewer hours per week than a full-
time job. They work in shifts.
The shifts are often rotational. Workers are considered to be part-time if they commonly
work fewer than 30 hours per week.
Advantages:
 Can provide special skills
 Can develop good relationship for future staffing
 Can test candidate potential in advance
 Cost effective
Disadvantages:
 Training can be time consuming and costly
 Extra assistance may be needed
 May also be working for other employees

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