Employee Referral Programs contribute largely to building a strong employer brand and their metrics can also be indicators of areas of improvement for your company and its employee experience.
Think about it, if you’re happy with a product that you purchased, you’d probably recommend it to friends… right? Well, the same mentality goes for your employees referring their friends, family, and former colleagues to roles at your company. Happy employees want to help you grow the company and want to grow with it. Leverage this sentiment with an effective Employee Referral Program.
Your employees are your best assets. Nobody knows your business like your employees do. And nobody is better fit to help you build your company than your employees - that means recruiting too.
If you build a solid, transparent, and simple Employee Referral Program, you too can further increase employee happiness, reduce attrition (employee referrals are well known to stay longer and be more satisfied in their roles), reduce costs (employee referrals are also well known to take less time-to-hire and, simply, cost less to hire, therefore reducing recruiting fees, recruiting time, and effort spent), and further grow your company and brand.
Now that you know some of the great reasons and tips to build a strong and effective Employee Referral Program, keep the inspiration flowing and download our Sample Employee Referral Policy!
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