Employee referrals are your number one tool for talent acquisition.
Employees are your number one tool for talent acquisition. When it comes to securing the right individuals for your company’s job postings, you want quality applicants with relevant experience and proven track records. You want candidates backed by your closest allies: your employees themselves.
Employee Referral programs result in employees that stick around. Make everyone a recruiter.
Employees know what your company needs. What better way to fill that need than with qualified candidates? Employee referrals are much more than friendly recommendations. Employees refer individuals they are excited to work with and already trust. They are your best resource at finding talent with the skills needed and ensuring there is a cultural fit.
A Culture of Recognition and Motivation
Employees share open communication with their friends which can break the ice in terms of recognizing their peers. Consistent peer-to-peer recognition can create a culture of collaboration and cohesivness where employees are motivated to see their peers succeed.
Benefits of an Employee Referral Program
Increased new hire quality (employees refer quality candidates)
Improved new hire performance creating a more engaged employee after hire
Higher retention rates when an employee is hired through a referral program
Current employees are motivated to help someone they know
Recognition is given to employees who refer candidates
Employees who refer candidates have feelings of achievement
13%+ improvement in average length of employment.
46% of hires from referrals at top performing firms.
10+ days improvement in application time-to-hire.
55%+ referrals are productive sources of diversity hires.