Referrals are everywhere. They guide our decisions. They’re credible, free of charge and save time. We pass them on to friends and acquaintances.
For 85% of companies, employee referrals are an integral part of their recruiting strategy. Nevertheless, we are often confronted with similar questions such as:
- How does my employee referral program compare to others?
- Which reward (amount) brings us the most referrals?
- What referral hire rate can we expect?
- How can we use employee referrals as a scalable and measurable success strategy in recruiting?
We collected data from 143 companies, and, in the following study, we provide you with the answers.