What if the ideal applicant would just drop into your lap? With relatively little effort on your part, that’s exactly what employee referral programs can promise. Though it might sound too good to be true, the benefits of these programs are even more far reaching than you might believe. Here’s why referral programs should be part of your hiring plan.
· Referral programs increase employee engagement
In essence, employee referrals leverage your staff’s personal and professional networks in your favor. By hiring through referrals, your employees begin to feel connected with the staffing process and take ownership of its results. Employees who participate in referrals are more likely to feel they’ve made an impact on your organization, which can dramatically improve engagement and job satisfaction.
· Employee referral programs bring in great candidates
Ask yourself this: Are your employees likely to ask to work with someone who is underqualified or unpleasant? Since each member of your team knows what they’re looking for in a workmate, you already are one step ahead in finding a skilled candidate who is a great fit for your company culture.
· Referrals bring fast results
Once your team gets excited about a potential referral bonus, you can expect them to work hard to find your next candidate. In fact, surveys indicate that referral hires tend to bring in results between 25 and 40 percent faster than traditional hiring methods.
· Employee referrals are cheap
Between advertising and recruitment costs, the price of hiring a new employee (even for low-level positions) can quickly run into tens of thousands of dollars. In contrast, even an extremely generous referral bonus will barely scratch the surface of the alternative. By hiring through employee referral programs, you’re doing your budget a massive favor.
Looking for help with hiring?
Though referrals may not meet your needs every time, there is a solution to every hiring problem. At Expert Staffing, we make it our business to find innovative staffing strategies to meet your every demand. Whether you’re looking for part-time, temporary or permanent staffing solutions, our expert recruiters are ready to help. Contact us today to learn how to get started.