If you are reading this, I’m guessing you also work in an in-house recruitment or internal recruitment team like me.
I’m sure you are well aware of the power of employee referrals...
Employee referred hires tend to stay longer in the business, are a higher quality hire and tend to be a better company culture fit as they have a friend already working in the business. If you are more of a visual learner, Social Talent have put together a great infographic that you can check out here.
What I found most interesting in this blog/infographic is that “70% of employers say referred hires fit the company culture and values better than those from other sources of hire”
But how to incentivize your staff to refer more people into the business?
Here at Morgan McKinley, we truly value an employee referral and run quarterly campaigns to remind our employees that they sometimes know the best people to join and help grow our business. One of the more successful campaigns we ran last year was the “Red Letter” week. During this week, if an employee referred a new potential employee who was later hired, they got the chance to choose an experience day. It could be sky diving, driving around a racetrack or any experience they wanted to do! One of our employees in Shanghai was eligible and he chose to get his PADI scuba diving license.
Here is what he had to say about the experience:
"I would like to express my sincere gratitude in the special reward that was provided to me with a successful referral to our Shanghai office.
Upon being notified of such reward and informed that I was encouraged to do something different and experience something I've wanted to do, I thought to myself - why not get a PADI license?! I've longed for an opportunity to experience the real diving under water and the tranquillity that comes with it.
I quickly signed up for the course with a local reputable diving shop and started my training lesson during the weekends.
After passing two weekend sessions of confined water (swimming pool) training and tests, I began my antsy anticipation for a trip to Anilao Philippines.
Needless to say it was my very first underwater experience and an amazing holiday. If it weren't for this special experience reward, I didn't think I would be able to jump on this anytime soon.
There are some photos to share and I strongly encourage everyone to utilize your network and resources to introduce great people into our business. Not only for the benefits of our business but also take advantage of these special rewards!"
What have you tried to incentivize your employee referrals? I’d be really keen to hear what has worked for your business. Feel free to share your ideas with me at email@example.com