Any business can be elevated with a strong employee referral strategy. After answering the most common questions most businesses have about employee referrals, you’ll be ready to get started on building your business using internal recruitment methods.
What Qualifies as an Employee Referral?
An employee referral is a strategic hiring method where existing employees recommend potential candidates for open positions within the company. By leveraging the networks and insights of your current workforce, you tap into a valuable source of potential candidates. Even if an employee can give a casual recommendation, share a LinkedIn account, or vouch for a past coworker, employee referrals can come in many different types and qualities. At the end of the day, all that matters is your trusted employee having some type of connection to someone who is applying for a job opening.
What Are the Benefits of a Referral?
There are a multitude of benefits that employee referrals bring to your business. Because they have pre-established relationships with other employees, on their first day they will have a higher level of trust and work chemistry that will allow them to better fit in and reinforce your company culture. They also will cost much less than an outside hire would typically be, as they can help lower the advertising and recruitment costs that would have otherwise been needed to find someone to fill the position. The other variable that employee referrals can save your business is through their expedited hiring process, which will save time that can used on other key tasks.
Are Employee Referrals Useful in Any Industry?
Whether you’re in tech, healthcare, or finance, the principles of employee referrals remain universally effective. The perpetual need for fresh talent for expansion and open roles is a shared challenge among businesses. In every industry it is important to look for translatable skills and experience that a referred candidate brings to the table. It is paramount that a referred candidate is able to make an immediate and meaningful contribution upon joining your business.
Now that you are an expert on what an employee referral is, your business is ready to grow! Contact Refered for more information on how you can get start rewarding your employees for suggesting their connections for open positions.