Like a careers site or a recruitment agency, employee referral is one recruiting technique among others, and one that has already proven itself. Especially effective for companies looking for hard-to-find profiles, employee referral gives companies the opportunity to involve their employees in recruiting future talent. But to perform well and make employees want to get involved, a referral program must be clear, structured and well thought out. The Wobee team gives you all the keys to setting up a successful employee referral program!
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Employee referral, also known as sponsorship or participatory recruiting, is based on a simple principle: employees recommend someone from their network for an open position at their company in exchange for a reward. By taking an active part in recruiting, employees become recruiters and place themselves at the very heart of their company's human resources development! This win-win principle — for the company, which optimizes its hiring, and for the employee, who receives a bonus in return — is increasingly used by employers, who see many benefits in it:
On average, a referral hire takes 29 days, compared with 39 days for a traditional hire (according to Jobvite)
48% of employers believe referral programs are the highest-quality source of hires (according to a LinkedIn study)
At Caisse d’Epargne, a referral hire costs 85% less than a hire made through a recruitment agency
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