Why an Employee referral program?
– Employee referral programs significantly lower the cost-per-hire compared to traditional corporate recruiting sources such as consultants, headhunters, newspaper advertising, Internet job-boards, college recruiting and career fairs. – The quality of the candiates coming from employee referrals are far superios to the candidates from other sources. – Costing – Payout to employees for referring their friends, contacts are much lesser than payour to consultants. – Entire workforce is involved as compared to only the HR department, By referring, employees reinstates the faith and pride on their company – Reduction in recruitment costs, Employees does the first level of screening the selection percentage of referred candidates is very high compared to other sources – The offer acceptance rates are much higher, as the employees can strongly convince their friends and contacts to join the organization – Homogenous crowd – Referred candidates stand on quality and perform better as they are w
