Employee Referral Program is a boon for Organizations today
After considerable research, it is clear that employee referral is an ideal recruitment technique to hire job candidates.
It is accessible and comes cheap. It produces a better employee and lowers the turnover rate of the company.
Industry experts believe that an excellent referral program allows the entire workforce, to enable recruitment. It attracts good deals, regarding new job candidate hiring. Collectively, with so many resources, it helps to develop an excellent recruitment and results in empowering all the employees.
Referrals allow many employees to use their social networks and come up with sound and exciting choices. The big advantage is, the employer has no need to spend time on job boards or search through several generic resumes.
When employees refer a few contacts and propose a candidate with the roles most suited for the job, there is an increase in the chance of having a good match.
The benefits of having an employee referral program as a recruitment technique are explained below:
A candidate who is a referral costs less to hire than others
Hiring a referred candidate comes cheap because, as an employer, there are no expenses on heads like recruitment outsourcing, advertising, agency fees or other related expenses. The spending on organizational labor costs is less.
The recruitment is Fast
Compared to other recruitment techniques, engaging a candidate through an employee referral program is faster. There is no need for a job posting or spending money anywhere else for selecting a candidate.
The recruitment is Easy
A referral hire gets familiarized easily. Candidates have someone known in the workplace and can turn towards them for help and guidance and also obtain useful tips. There is a sense of belonging. It helps in adapting to the new environment.
A referred hire stays longer in an organization
The feeling of making a valid and useful contribution helps the candidates to stay longer in an organization. This development can go further and serve as an asset.
Overall, a referral candidate is more productive and involves in work and is happier at work also when compared to non-referral counterparts.
Based on these observations, we can conclude that having an employee referral is a useful recruitment technique. When organizations use it correctly, they can successfully tap some of the best talents and grow in a better way to deliver the best services.