Try Employee Referrals If You Haven"t Already

  • Added:
    Jun 17, 2014
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Try Employee Referrals If You Haven"t Already Photo by Savio Vadakkan

If you are struggling to get quality talent in a milieu where the talent war is clearly heating up, an Employee Referral Program is not just an option, but a necessity. A quick look at the benefits of employee referral programs and you know why your organizations must give it a try:

Return on Investment- Employee Referral programs are known to produce the highest ROI when compared to other recruiting sources namely job boards, placement agencies etc. and this does not even include the branding value that the program generates, which is simply priceless.

Speed of hire- Again Employee referrals are known to pip all other recruitment forms when it comes to speed of hire. This can be attributed to a number of factors primary among them being the fact that it produces relevant candidates & thereby reduces a lot of administrative time in sifting through irrelevant resumes or conducting ungainly interviews. Applicants hired through an employee referral are also known to assume their roles faster than employees recruited through job boards & career sites.

Productive Employees- Research has shown that employees recruited through Employee Referrals are far more productive on the job. This in part at least can be attributed to the fact that an existing employee has already assessed their job skills as well as their ability to adjust to the company culture. Very often these employees also become mentors to the referred candidates on onboarding & bring them up to speed.

High Retention Rates- Employees who have been recruited through employee referrals are also known to spend longer time on the job, provided the referring employee has not separated from the organization. This has been corroborated not just by research but also the experience of a lot of organizations like Price Waterhouse Coopers & Southwest Airlines to name just a few.

Targeted applications-With existing employees making referrals aware of not just the skill sets required for the job but also the company culture, there is high rate of conversion of applicants to employees. This in turn reduces the administrative pressure on recruiting departments who do not have sieve through a heap of irrelevant applications.

Benefits existing employees- The primary advantage that Employee Referral programs brings to existing employees is that it allows them to choose quality co-workers. Besides, it offers them rewards &recognition which in turn creates loyalty besides of course, increasing referrals

Works across global borders-With the growth of social media &ease of employees to mine their contacts, Employee Referral Programs work across borders, cultural differences notwithstanding. Global organizations such as Agilent Technologies have been known to use this program effectively torecruit across geographical boundaries

There’s no reason why your organization should stay away from this #1 source of quality hires. In fact some companies are also known to take advantage of such referral programs to cut on their induction & training costs.

Zalp is the No.1 Employee Referral Tool used by leading organizations which guarantees a 2X increase in the referral output within the first 2 months of implementation. Visit http://www.zalp.com to know more or drop a mail to info@zalp.com

Author's Profile

Savio Vadakkan is the Marketing Professional at ZALP, a leading employee referral tool. Zalp enables organizations to boost their employee referral hires by implementing an effective employee referral program.


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