Presentation Date: May 9, 2013
Almost everyone agrees that employee referral programs routinely produce high quality hires with longer retention rates. Unfortunately, the typical corporate referral program produces less than half of its potential hires. The reasons for this underperformance can usually be traced to elements in the referral program’s design, and fortunately, most of these design flaws can be easily remedied. In times of high recruiter workload and limited budgets, it’s important for recruiting leaders to realize that modern employee referral programs have proven that they can contribute to over 50% of all hires. Reaching that 50% goal will not only increase the quality of your hires, but by leveraging your employee’s contacts and their peer-to-peer selling ability, you can free up your recruiters and recruiting resources so that they can be focused on your firm’s high impact openings.