EMPLOYEE REFERRAL PROGRAM
Employee referral program is an organized and structured internal program employer use to ask existing employees to recommend candidates for open positions. Unlike sourcing, employee referral is an internal method used to find and hire the best talent from employees’ existing networks.
Finding the right candidates is harder than ever before. Most of the candidates don’t actively look for jobs. Therefore, you need to have a strategy for finding these passive candidates and attracting them to come work for you. Going through your own employees is the best way to do that.
EMPLOYEE REFERRAL PROGRAM ROI
Of employers rated employee referrals above all other sources for generating the best ROI
Source: Career Builder
BENEFITS OF EMPLOYEE REFERRAL PROGRAM
- Improving quality of job applicants
- Improving quality of hire
- Reducing turnover rate
- Improving employee retention
- Reducing time per hire
- Reducing cost per hire
- Strengthening employer brand
- Improving employee engagement
- Improving offer acceptance rate