Attracting the best hires often comes down to a great employee referral program.
Referred employees are usually placed faster and stay with the company longer than candidates sourced by other methods—saving companies time and money.
Launching an employee referral program can be a win-win-win for employees, employers, and job seekers:
- Employees gain rewards for recommending friends and family members—in addition to the satisfaction of helping a friend or loved one.
- Employers get introduced to potentially qualified candidates.
- Job seekers get an “in” with a great company.
If you’re looking to build an employee referral program for your company, use these 4 simple steps for success:
1. Explain the referral program.
Your employees won’t be able to refer their qualified friends if they don’t know about the program and understand how it works. Announce the details and send periodic reminders through multiple company channels, including:
- Department meetings
- Employee website or landing page
- Printed information in the breakroom
- Company app
2. Provide incentives.
Even if your company is so incredible your employees love acting as goodwill ambassadors, money and other rewards can sweeten the deal. Offer a financial incentive, a non-financial incentive, or a combination of both, to get the best response. Consider asking your employees what would best motivate them to bring their friends and family into the company fold.
3. Make it fun.
Creating a little friendly competition can add an element of fun to your referral program. Recognize top referrers and offer prizes for successful placements. Some companies gamify their referral process to further engage employees in the program.
It’s also important to follow up with referred candidates and the employees who referred them to let them know the status of the referral. Of course, applicant and hiring information must be kept confidential, but letting involved individuals see the program is working will encourage future referrals.
4. Track referrals.
Track results to ensure your referral program is effective and identify areas for improvement. Be sure to evaluate referrals based on factors such as:
- Total number of referrals
- How many referred candidates were hired
- How long placed candidates stayed with the company
- Employee attitude toward the program
- How many placed candidates were due to employee referrals
Need help attracting top talent to your organization?
PrideStaff can help you find candidates who add value to your business—quickly and cost-effectively. Contact your local PrideStaff office to discuss your hiring needs and how we can help your business thrive.