Two Simple Tips to Boost your Employee Referral Program
Not only are they more likely to get hired, but they're also more likely to stay with the company longer.
It makes sense, right? Work is more fun with friends. Also, potential applicants better understand the job if it's their friends selling them the opportunity.
That's why it's essential to boost your employee referral program! In this post, we'll discuss two simple tips to help you get more employee referrals. Keep reading to learn more. But first:
Did you know that 88% of companies rate referrals as their best source of applicants?
Seems obvious. Better employees who stay longer. Companies that try the two tips below can see up to a 10x increase in applicants from this channel!
Tip 1: Incentivize the referral
Give a small gift card or cash bonus to encourage your employees to reach out to their network. It can be small. Even a $100 gift card has increased referrals dramatically across different employers.
Tip 2: Ask for referrals during employee onboarding
New employees are most excited about your company right after they start. It's a honeymoon period. And don't get me wrong, I'm sure your company is Utopia, and people love it 365 days a year...
That said, it's proven that around Day 30 is the sweet spot to ask for referrals. They are most excited during this time and are up to five times more likely to refer if asked!
Take advantage of this window of opportunity. Top companies incorporate this into their employee onboarding, and you should too.
So if you're like the 88% of companies that value referrals, try these two tips and see your increase in referrals.
Do you want to learn more ways to boost your applicant pool? Keep reading our blog to find out more. Good luck!