When an employee refers a candidate for a job opening within their company, this is known as an employee referral. Referring a friend may appear to be a win-win situation for all parties involved. According to a LinkedIn report, it’s a wonderful approach to boost your company’s talent pipeline because recommendations are cheaper, faster, and result in higher-performing workers. It’s also a great opportunity to increase your network’s goodwill and possibly earn a referral incentive! Consider what’s at stake for you when suggesting someone to your organization before referring every LinkedIn contact or acquaintance who comes your way. Every recommendation you make reflects on you. If you send the wrong prospects to your talent acquisition team on a regular basis, your reputation will suffer. Continue reading to find out when employee referrals are most beneficial.
When Simple
It must be simple and straightforward if you want employees to perform something extra (outside their typical job obligations), such as participate in a referral program. Referral criteria and rewards should be simple to comprehend and apply so that an employee does not feel obligated to make a referral. Giving employees corporate resources that make it easy to talk to potential recommendations is another strategy to generate more referrals. Employees can effectively inform people about how amazing it is to work at your company by using a company introduction video or a career website with employee testimonials and job specifics, for example.
Fun Incentives
Because employees can’t perform at their best if they’re sick, wellness incentives are critical for firms aiming to avoid burnout and promote physical and emotional health. With the current constraints on employees, this is especially important: 59 percent are taking less time off than they typically would, and 42 percent of those working remotely do not expect to take any time off to relax. Employees who achieve wellness goals, such as quitting smoking or completing a step challenge, can be rewarded.Using a centralized rewards program that encourages the adoption of healthy habits both at work and at home is one of the finest methods to support employee wellness.
WellRight, a major corporate wellness platform, for example, integrates with Achievers, a recognition and awards platform. Employee wellness, awards, and recognition are all streamlined as a result of the platforms’ integration. Bonuses and raises can be extremely effective in motivating staff. According to a Payscale survey, 65 percent of employees in the United States prefer bonuses based on personal performance. However, you must establish crystal clear criteria and objectives so that employees understand how to earn their bonus. Strike a balance with your policies; they shouldn’t be either complex or too simple to follow. It’s also a good idea to avoid pitting employees against one another. This can backfire, causing anger or even alienation inside your organization.
Track Success
It’s critical to track your results in order to determine whether your program is working (or to find areas for improvement). Quantity and quality should be considered while analyzing referrals. Consider these scenarios: Total referrals made. The total number of people employed as a result of referrals. Whether you filled more jobs through referrals or other ways of recruitment. How long have the applicants worked for the organization? The program’s impact on managers and staff.
