84% of employers rate employee referrals as the number one source of hire. Employee referrals reduce your cost per hire, increase your quality of hire, and reduce your turnover rate.
Finding new employees is a difficult task, but using your current workforce to help out makes it easier. With Yourco, you can instantly send employee referral links to your non-desk workers, streamlining the referral process and ensuring everyone stays informed and engaged.
Here’re some tips how you can develop a employee referral program:
1. Give employees what they need to refer
Create a workplace environment where every employee feels valued and motivated to act as a brand ambassador. Provide employees with tools and information to refer potential candidates from their personal networks.
2. Set Clear Guidelines and Expectations
Ensure employees understand the referral program’s rules, eligibility, and rewards. Transparency builds trust and encourages participation.
3. Offer Incentives That Motivate
Cash incentives are a proven motivator, with $500 being a common reward for successful referrals. Align rewards across job levels to avoid perceived inequality.
4. Market the Program
Make sure to promote the referral program at the monthly meetings and company wide events to ensure all employees are aware of it.
5. Hold Leaders and HR Accountable
Keep employees and candidates updated on job status to prevent frustration. Gain executive support by demonstrating the program’s value.
6. Provide Feedback on Outcomes
Measure success through hires, candidate quality, participation rates, retention, and performance. Use data to make necessary adjustments.
With Yourco, you’re equipped to connect, engage, and empower your non-desk workforce effectively. Stay tuned for next month’s edition packed with more insights and tips!
Contact us to set up a demo, or try it out for free today.
