To grow from a modest start-up into a formidable industry leader, companies must acknowledge and appreciate efforts of their employees in helping their business succeed.
Recruiting the best and brightest is no easy feat, but through careful implementation of employee referral programs, top organizations successfully hired quality staff members to assist in their business.
Here are four ways top companies implemented their successful employee referral programs.
1. They focused on building a positive company culture
Companies with a great company culture are an easy sell because everyone wants to be part of a stellar team. This is why if recruiters want an employee referral program to be successful, they must first work on the company culture.
For example, Virgin Hotels’ culture code puts a primer on employees bringing their whole selves to work, while Buzzfeed’s culture celebrates diversity because they value a range of perspectives.
According to Dan Schwabel, research director at Future Workplace, a research firm and workforce management consultancy, culture in the form of meaningful work, solid benefits, flexibility, among other things, is the most important competitive advantage.
2. They’re organized
Smart companies develop an entire system for managing referrals even before the CVs come in. It allows recruiters to keep track of the referrers, referrals, and where they are currently in the hiring process of these referred candidates.
There are plenty of people involved in this recruitment method so it’s best to be organized in order to prevent chaos between employees, referees, and the company.
For example, Firstbird features a simple but effective tracking system, that allows the company to keep updated on the status of their referrals through the use of in-app notifications. Users will also get automated emails delivering the most relevant information directly to their inbox.
3. They make it easy for the employees to refer
Referring candidates is just a side job for employees, make sure that your employee ambassadors will never feel as if referring people is such a complicated task.
Employee referral programs like Firstbird allows companies to easily invite Talent Scouts personally or with the automatic invitation link provided. It integrates with all social and professional networks, and each link is unique so you know where your referrals come from.
4. They give the right incentives
Financial incentives are nice, but you don’t always need cash to motivate people to refer qualified candidates. Companies can offer all-expense paid holidays, flexible time, or something as simple as recognition for their referral effort.
Tech giant Dell’s social sourcing tool awards point to top referrers, which means the more employees share jobs in their network and refer candidates, the more points they get. Points mean incentives like having their names displayed in Dell’s internal system or recognition in team meetings.
Studies have shown that referred candidates perform better, are cheaper to hire, and are generally happier at work than non-referred candidates. It’s time for you to create your own employee referral program that can help you grow into the thriving business you’ve been dreaming of.