We love to use big words and acronyms when describing any Employee program, be it recognition, engagement or referrals. However, the core of these concepts and programs are how we communicate as human beings in the work force. It’s that simple.
Realize that the opportunity to acquire qualified talent already exists within your company
We have all heard the phrase “the best way to gain new clients is through the clients you currently have”. The same is true for procuring talented and valuable employees. Clients and employees are two of the most critical assets to your company. There are key similarities to acquiring new clients as well as new employees. These similarities provide the opportunity to leverage the existing relationships of those who understand your business and how it operates.
Similarities of Current Clients & Current Employees
- Both have a working relationship with your company.
- Both are familiar with how your company operates.
- Both are aware of the benefits of working with your company.
- Both have an understanding of your company’s goals and objectives.
- Both can provide insight into their needs and how your company can be more effective in reaching those needs
- Both can make educated recommendations based on their experiences working with or for your company
So ask yourself: Who could be more qualified to suggest new opportunities than those that already have personal relationships, established on experience with your company?
Once again, it’s simple: those that know your company, know your company’s needs. Employees working with managers understand what questions to ask prospects to ensure the fit is correct for the team. This can solidify teams to be most effective on meeting the company’s needs while their needs are being met. Everyone enjoys working with friends.
This is why properly executed Employee Referral Programs work. Employee Referral Programs can provide an extension for your employees to communicate their knowledge of what could make the team more effective. How does a Referral Program accomplish this? By rewarding those that make solid referrals on well suited talent. Rewarding employees for aiding in the onboarding process can be priceless to your company.
Outside of Referrals
Acquiring talented employees without employee referrals is always possible, but can be a long and involved process. Companies must use various job hunting websites, recruiters and other means to find qualified candidates. Even then, a job description can potentially miss important details or become too general without proper insight into the position. This can lead to multiple interviews with unqualified candidates at the cost of valuable time and resources searching for the “perfect fit” employee.
What do the numbers say about the benefits of referred talent?
Stats from a Social Recruiting Survey by Jobvite.com reveal that employers and recruiters prefer referrals and provided the following:
- 8.6 out of 10 respondents felt referrals were the number one source for a quality candidate
- 70% of employers felt referral hires fit the company’s culture and values better
- 69% of respondents compensate employees for referrals
- 67% said the recruiting process is shorter
- 51% said it was less expensive to recruit
- 30% of companies planned to invest more in referrals
Keep these in mind the next time your company is looking for talented qualified employees. For more insight, download our free ebook “12 Points to Consider for a Successful Employee Referral Program” and start acquiring new talent efficiently and effectively.
About the Author
Chris Spann is a Senior Marketing Manager, brand expert, and content contributor at PerksMore Content by Chris Spann