Effectiveness & Best Practices of Employee Referral Program
Referral programs come off as a huge advantage for businesses. It usually begins the start of a superior work culture with a positive employer brand. Many studies show that employees appointed through referrals are more dedicated and stay longer compared to others. Furthermore it is considered as the quickest and cost effective means of recruitment. Another statistics show that referral candidates accept 15% more offers compared to other hires and perform much better.
Successful Practices in Employee Referral Program
Below are a few effective practices followed in Employee Referral Program:
1. Most HR try to create a purpose to help them excel in their managerial experiences. This helps the organization meet its goals and the employees enjoy a better work culture.
2. The communication bridge is one of the most important entities in every work place. Conduct short orientation programs to introduce one another and at the same time also make existing employees familiar with certain schemes.
3. Employee referral program makes the whole recruitment process smooth and easy. There are less footwork or paperwork to be done and more time to get involved to yield good results.
4. Promotion is another useful entity in this aspect. Promote your scheme and actively publicize your referrals in social media and office bulletin boards. You may also take the help of your company newsletter in this aspect.
5. Plan for reward schemes to keep employees loyal and motivated. Have exciting packages for quality candidates and encourage them regardless of the outcome.
Influx of Social Media & Marketing in Social Employee Referrals
Associate your brand to employees’ network. Create awareness via job digests to help candidates update their status for recognition. Create templates for employees to have it easier for them to stay connected. Employ your marketing creativity to help promote your employee referral program effectively. The right strategy will help you increase your referral hire without added budget.
Probable disadvantage of Social Employee Referrals
Most employees have the fear of broken relationships at their workplace if in case their referred candidate does not turn up as expected. Also they have second thoughts on if the recommended person doesn’t make it past probation, it might affect their friendship.
What they fail to understand is in such a scenario employees have the power to make only the recommendation and has nothing to do with the hiring process. Hence, they should have nothing to have second thoughts about.