'It is the process of choosing from the pool of the prospective job candidates developed at the stage of recruitment.'

Which of the following is being referred to here?

Selection

The correct answer is option 1- Selection.

Selection is the process of choosing from among the pool of the prospective job candidates developed at the stage of recruitment. Even in case of highly specialised jobs where the choice space is very narrow, the rigour of the selection process serves two important purposes:
(i) it ensures that the organisation gets the best among the available, and
(ii) it enhances the self-esteem and prestige of those selected and conveys to them the seriousness with which the things are done in the organisation.