Employee Referrals: Tips to Build a Successful Referral Program

The value of referrals

  1. 1 in 10 referral candidates are hired compared to 1 in 100 general applicants.
  2. Employee referrals produce the highest ROI of any sourcing method.
  3. 46% of referred hires stay for at least one year after they’re hired, as compared to 33% of people hired through career sites and 22% hired through job boards. Two years later, 45% of referred hires were still there.
  4. 67% of employers and recruiters said the recruiting process was shorter and 51% said it was less expensive to recruit via referrals.

Keep employees and candidates in the loop

  • How quickly will the company respond to my referral?
  • Is there a referral bonus?
  • Are there qualifications for a referral bonus? Do I meet those qualifications?
  • How do I get my referral bonus?
  • How quickly will the company respond to my application?
  • Do I meet the qualifications of the position?
  • Will I get an interview? A second interview?
  • How long will the interview process take?
  • When will I know if I got the job or not? Will I hear back if I don’t get it?

It Really Does Make a Difference

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Chris Murdock

Chris Murdock

Chris is the Co-Founder & Senior Partner at IQTalent Partners, a professional service firm focused on finding, assessing and hiring key talent for teams.