Imagine having an efficient and smooth-running employee referral program that produces nearly 50 percent of all of your hires and that ranks No. 1 among all sources in producing quality, top-performing hires. This employee referral program may also prove to have the fastest time to fill, and surprisingly, one of the lowest cost per hire of any source. And because your employees do a great deal of the spreading of authentic brand messages, as well as the finding and assessment of prospects, the program has an added side benefit of greatly reducing the sourcing timeframe for your recruiters.
Well, all of these fantastic benefits are easily reachable, provided that your employee referral program is operating at the highest level. Unfortunately, many referral programs start off operating well, but over time, their results diminish significantly because they haven’t been continually updated. If your organization is struggling in this competitive recruiting market to find high-quality talent with the right skills, it may be time to revisit your referral program and upgrade to the next level.