You don’t pick talent anymore, talent picks you. Today, hiring managers are working hard to find creative ways to attract, source and hire great talent.
One of the best and most effective methods to do so is setting up a world-class employee referral system.
When it comes to creating a brilliant employee referral program, there are a few elements to keep in mind. Ideally, every program includes:
Incentives – Cash or non-cash such as extra holidays or even just a simple thank you.
Ease of use – Try to make the use of your employee referral program as easy as possible for your people.
Feedback – As always, keep your employees posted on the status of their referrals. Did their candidate move forward in the hiring process? Drop them a quick email or message.
Recognition – Praise is good for employee morale. Think of a nice way to give your employees the recognition they deserve when they’ve successfully referred to someone.
Platforms like Suitable automate the referral process.
Marque examples of awesome referral programs
1. Happy Hours
Leading companies like Salesforce, organises happy hours, get-togethers where employees can invite the people they want to refer. It is fun, casual and gives the chance to the hiring managers to get acquainted with potential talent.
2. Trips and Bikes
Companies like InMobi, use rewards in form of high-end products to lure employees. These can be customized based on your employee base. In India that meant a Royal Enfield bike (the Harley Davidson of India) and in the US that meant a Vespa.
To keep employees on top of their referral game, both vehicles were parked right at the entrance of the offices. For every successful referral, InMobi’s employees could choose between a brand-new bike and a trip to Bali.
3. Rewards for a cause
Organizations including Accenture opt for a ‘Feel good’ based reward program. On making a successful referral, the employee has the option to donate a part of their referral bonus to a charity of their choice. To top things off, the firm matched that amount.
This is an innovative yet effective way to motivate team members to engage in the hiring process.
4. Diversity hiring techniques
Companies often struggle with making their employee base diverse. A simple strategy to double the hiring bonus for your target talent works smoothly.
Intel has found a straightforward way to hit the two proverbial birds with one stone. To stay on top of its diversity hiring, the American tech giant doubles its referral bonus when employees successfully refer to women and minorities.
Suitable also provides a reward centre, to make your referral process engaging.