Final answer:
Employee referrals, online job boards, and in-house recruitment are sources that provide excellent yield ratios and a relatively low cost per hire. They are often underutilized due to factors like lack of awareness or inadequate recruitment strategies.
Step-by-step explanation:
In the context of recruitment, sources that provide excellent yield ratios and a relatively low cost per hire are pivotal for any organization. These sources are evaluated based on their productivity, the cost effectiveness, and the overall cycle from identifying candidates to hiring. Generally, employee referrals, online job boards, and in-house recruitment teams tend to offer high yield ratios with lower hiring costs compared to other methods like recruitment agencies or headhunters.
Employee referrals stand out because they capitalize on the existing workforce's network, often yielding candidates who are a better cultural fit and who have lower turnover rates. Online job boards are also cost-effective, allowing companies to reach a vast pool of candidates. Meanwhile, in-house recruitment allows for more control over the hiring process and can be more attuned to the company's specific hiring needs. However, the effectiveness of these sources can vary based on several factors, such as the industry, the nature of the job, and the size of the company.
It is also important to note that while these sources may provide a good yield and cost balance, they might be underutilized due to various reasons such as lack of awareness, inadequate technology, or ineffective recruitment strategies.