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How To Implement An Employee Referral Program

HOW TO implement an Employee Referral Program Employee referrals yield better team members. FACT: Can you engage your employees in the recruitment process? LINGERING QUESTIONS: Can you ensure they're giving you quality leads? HOW TO HOW TO GROW WHY WHO TO WHAT TO OVERCOME ENGAGEMENT START? INVITE? REWARD? THE DIP OVER TIME? Benefits of the right referral program Referrals are the highest quality hire. They perform best on the job compared to any for diversity hires. other recruiting source. Referrals are #1 in Statistics show employee retention rate after 1 year at 46% vs. 33% for 1 out of every 5 referrals gets hired. Referrals are #1 career sites 55.3% say employee referrals are "Productive" or Referrals are a better Save time! Referrals are 5 times more likely to be hired. cultural fit because "Very Productive" sources of they are pre-vetted by people familiar with how you work diversity hires Nearly 3 in 10 employers have caught a fake reference on a job application Who to reward Employees Former employees/alumni Your network and the network of your past and present employees How to overcome "the dip" Engagement spikes typically occur during initial launch of a referral program After the initial launch, a natural dip will occur that your company will move out of as you keep your employees engaged Best rewards practices Cash rewards for Engagement is highest with rewards for 48% of employees report it would further motivate them to referrals are the #1 incentive for getting employees to participate hires between $2,500 and $5,000 -- a lot less than participate in referral program agency costs Other incentives More alternatives v Public recognition Offer the option to v Increase recognition donate referral VA simple thanks v Holidays/days in lieu V Product reward V Hold a raffle rewards to charity v Create friendly competition v Vacations More than 80% of companies are also using non-cash rewards Increase engagement over time Build a compelling Make participation Create compelling job descriptions 75% of job seekers 50% of employees are frustrated by poorly join on the first day written job descriptions career site The career site is the EASY With easy sign-up, #1 source of influence for referrals Provide recognition Provide feedback to employees on referrals Keep your team informed about Implement Employees select instant gratification over long term benefits Gamification who's moving forward in the hiring process Why Gamification? DEFINITION: The use of game mechanics to encourage engagement and instantly recognize the efforts of employees who proactively participate in the recruiting process Gamification Companies typically hire 10-15% of their 70% of large companies (Global 2000 organizations) will implement allows small rewards workforce a year, and recognition for good referral efforts that bring in qualified candidates and result in interviews which means that over a year, more than 85% of your employees will be left unrecognized and unrewarded for their efforts some sort of game mechanics into their workplaces by 2014 Some 53% say the use of game mechanics, feedback loops, 58% believe it's important for brands to be fun and playful 55% are interested in working for a company that uses gamification to increase and rewards will increase between now and 2020 productivity Spending on gamification projects will grow to as much as $2.8 billion by 2016 Key elements of gamification ! Narratives Mechanics Make it fun and exciting! 1 3 Redeemable Achievement Leaderboards reward points such as levels movie tickets Make referrals the most powerful part of your hiring programi Sources as-good-as-you-think/ internal data. October 2012. employees-engaged/?cs-45772 TLNT&utm_campaign=ec2184a593-tlnt-daily-do-bonuses-matter-they-do-if-part-of-a&utm_medium=email 16 Employee Referral Tips. Retrieved from ZAO brought to you by II

How To Implement An Employee Referral Program

shared by comerecommended on Apr 15
The right employee referral program is a win-win for employees and employers when done the right way. A company has to know who and how to reward and how to effectively increase engagement over time t...




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