Are looking for a timely and cost-effective method to hire….hire quality resources!!
Let’s have a look at one unique way of dealing with this situation.
Recruitment is a never-ending process in organizations and you have many methods for achieving the same. These methods depend on the requirements, size, time, scale of hiring and budget of the organization.
We as an organization do use various methods for recruitment and we find using internal resources more productive. Generally, it is known as an Employee Referral. The reason is they are cost-effective, less time-consuming, give quality hires and higher Employee Retention.
Come and understand with us what an Employee Referral is and how to do it like a pro!
Technically, Employee Referral Scheme can be defined as a strategy for making new hires from the network of current employees. As understood by the name it is an internal method so is inherently more trusted and easier to implement.
Let’s bring Employee Referral into Effect/ Execution
Creating and implementing an effective Employee Referral Program is more crucial than making a hire through it.
Let’s have a look at a productive Employee Referral program to find your next Rockstar!
- Begin from the Beginning- Begin from the onboarding and let the new hires know and get aware of the referral in the onboarding session. This sets an expectation that everyone contributes to growing the team and the benefits of Employee Referrals.
- Explain Job Requirements- Your teammates don’t know what you are looking for in candidates concerning qualifications, skills, knowledge, culture. So give them the idea of what a suitable fit means for you. Specify what you require through Job Descriptions and it would be great to highlight what you are not looking for. This could be a great help to them to identify suitable candidates from their network.
- Keep Employees Updated- Communication is always appreciated. Keep the employee, who referred, updated about the process and the status of the referral. Even if the candidate is not selected, “Thank” them for the referral. This would let them keep motivated to do the same in future and also won’t let them feel that their efforts are not appreciated.
- Tempting Incentives- Everyone wants to get rewarded for any additional work they do. Thinking out of the box we must offer our employees with a mix of monetary as well as non-monetary incentives that would encourage referrals. It is obvious that money is an attractive incentive but non-monetary incentive also can make people more curious and interested so they make more and good referrals.
We can set the amount of cash depending on the profile for which the referral has been done. Also, it can depend on the profile of the employee who has made the referral.
We can consider some attractive gifts as non-monetary bonuses by offering a hamper of various useful things, gift vouchers, a movie ticket, a ticket for any event, a ticket to a museum etc.
- Always Appreciate Good Work- Offering your employees with Incentives is not all that should be done. Always make sure to recognize your employees in front of everyone for their efforts for the organization. This will help you not only in appreciating the employee but also making other employees aware and taking interest in the referral scheme.
- Leaderboard- We can plan a kind of competition which states that the person bringing maximum leads for a particular duration will be rewarded with a special gift hamper. Also, we could display the same on the leaderboard and celebrate the same with everyone with some yum snacks.
- Host Talent Sourcing Jams- This means inviting your team together and having them go through their networks as per the requirements, helping them identify suitable candidates by reviewing all the ideal profiles. This can also be done on social media like LinkedIn.
- User-Friendly Applications- This decision can be taken based on the size and type of the organization.Referral Software and Referral Tools could be used by large and complex organizations as they can’t share the information one-to-one with all employees. Such software and tools allow the hiring managers to send requests for referrals for particular profiles and helping employees to share open positions to their social networks.
An Employee Referral program is an effective strategy of acquiring talent by tapping into your team’s network. Don’t let it take all the focus of your Recruitment but a lot can be gained from it if implemented wisely.
So get ready with your awesome Referral program to charge up your hiring with referrals!