referral rewards

Employee Referrals and Residuals

Mentioning referral programs can often perk up ears with the hopes of cashing in on some type of opportunity. Whether it be sharing the latest pyramid product, getting friends to join your gym, spreading the word about a service you use, or knowing the right person for that open position at work: referrals are good.

Referrals Support Informed Decisions

Imagine searching for a daycare online and basing your decision solely on reviews…from strangers. Those reviews might be helpful, but they’re likely not compelling enough for you to make a decision. You need to know someone closer to the experience. Most of us want to hear from our friends or family and their positive experience with a daycare before dropping off our pride and joy for the first time.

The same goes for businesses. The next time you are hiring, try asking the employees you already know and love to spread the word. Chances are that they have some smart, intelligent friends that would fit into your environment perfectly. There are a variety of social media sites that your current employees probably already use and that make sharing job links a breeze.

Your employees can be your strongest and most powerful recruitment tool. Having an effective strategy for referrals can brighten the outlook on staffing hard-to-fill positions. Referral programs vary widely, but consider these ways to encourage your employees to participate:

Recognize the Referral and Referrer

Make sure each and every applicant that was referred to the company is contacted directly. Even if you aren’t going to hire them, it is important to let the referral know that you actually took the time to review their resume and that you appreciate their interest in the business.

Likewise, recognizing the employee that participated in the referral program (even if their referral wasn’t hired) is important. Giving the referrer feedback on the results of their suggestion and a little appreciation can go a long way.

Throw a Party

This may seem unconventional, but if you have a company that is growing quickly or needs to hire highly specialized individuals, having a party for your employees and their colleagues can be a great way to spread the word about your company. Referral events invite engaged employees and potential additions to your workforce to learn about the company, mingle with management, and delight in social fun.

Roll Out the Red Carpet

Treat referrals and the referrer with respect and appreciation. Promptly providing candid feedback to the employee and the applicant will improve the referral process. Recognizing that the applicant was referred to the company is imperative and should be handled by the recruiter.

Friendly Competition

Whether you put every employee that participates in the referral program into a bucket for a chance to win a prize, or pick the top referrer from each department to go to the Superbowl, competition can really spice up your results.

Bust Out the Bonuses

Your employees don’t need to feel like they hit the lottery for this bonus to be effective. Simply acknowledging their success in a small monetary fashion will suffice.

ExactHire ATS makes it easy for applicants to name a referring employee during the application process. To learn how you can begin broadening your talent search and enhancing your results, contact us today.

Image credit: Reward Metal Business Card by Photasia (contact)

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