The Benefits of having Employee Referral Schemes

One of the many challenges faced in the world of HR is recruitment. Whether it’s trying to fill multiple roles or trying to find the right candidate for one an employee referral scheme may be a solution.

In this post, we will share some benefits of introducing an employee referral scheme to your organisation.

Employee referrals are faster hires

One of the most challenging aspects of hiring is that it takes a long time to find a quality candidate. Not only do you have to search through CVs, but you have to schedule screenings and in-person interviews. Not to mention that candidates can drop out of the process bringing you back to square one.

Less costly hires

Using referral methods to gain employees will lead to not using recruiting agencies which come at a high cost.

Employee referrals onboard more quickly

New hires may feel intimidated and withhold from asking questions or getting clarification about things they’re confused about, which can slow down the onboarding process. However, having a friend in the same company can make it easier to open up and get integrated quicker into the organisation.

Improves Employee Engagement

When a company asks employees to help them find their next new hire it makes them feel more empowered. At the same time, it’s a great feeling for them when they can help their friends with their next career move.

Boost Employer Branding

When employees spread the word about job openings it brings a lot of traffic to the company. This also improves brand visibility.

 Many companies use employee referral schemes with employees receiving rewards such as cash bonuses or experiential rewards. Building employee referral programs can generate buzz and excitement around the workplace.

Related Articles: 

Employment Engagement Part one: How to Attract and Retain Employees.

Employee Engagement Part Two: Seven Dimensions of Good Work