Is your employee referral program as good as you think - Zalp

503 views
370 views

Published on

An employee referral program needs to be evaluated periodically to achieve optimum employee referral results. Find guidelines which can be used to evaluate a referral program and make it work at its best. The success of a well-defined and structured employee referral program is much more than a generic or an informal program. Find how to optimize your referral program to make it work smarter for you.

Zalp is the No.1 Employee Referral Tool used by leading organizations to increase their employee referral hires. Visit http://www.zalp.com to know more or drop a mail to info@zalp.com

Published in: Business, Technology
1 Comment
0 Likes
Statistics
Notes
  • Be the first to like this

No Downloads
Views
Total views
503
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
7
Comments
1
Likes
0
Embeds 0
No embeds

No notes for slide

Is your employee referral program as good as you think - Zalp

  1. 1. 1 Is your Employee Referral Program as good as you think
  2. 2. 2Is your Employee Referral Program as good as you think TOP TEN REASONS YOUR REFERRAL PROGRAM MIGHT NOT BE AWESOME 10) Most of your referrals have quit. 9) Your CEO just announcedthat telecommuting is no longer an option. 8) Your company is outsourcing recruiting. 7) Your attrition rate is increasing and company revenue is decreasing. 6) You give Blockbuster gift certificates as a referral award. 5) Your company only pays a fee if your referral stays for a year. 4) Your competitors are paying higher external referral fees to your employees. 3) Your company is on a hiring freeze. 2) Your recruiting team is too busy to follow up with referrals. 1) Every employee thinks their referral is a “Must Hire” or “Rock Star.”
  3. 3. 3Is your Employee Referral Program as good as you think Why This Topic? • Finding great talent is harder than ever • Referrals deliver talented candidates • Generate low cost, high quality pipeline • Speed up the recruitment process • Yield higher productivity workers
  4. 4. 4Is your Employee Referral Program as good as you think Current Scenario • Current State of Employee Referrals • Employee Referral Pitfalls • Trends and Best Practices • Next Step Recommendations
  5. 5. 5Is your Employee Referral Program as good as you think Five Facts About Employee Referrals Referred applicants: 1. More likely to be offered and accept job offers 2. Achieve higher pre-job assessment scores 3. Are a better fit vs. non-referred 4. More productive 5. Less likely to quit Source: “The Facts About Referrals:Towardan Understandingof Employee Referral Networks”- StephenBurksy,Bo Cowgill, Mitchell Hoffman, Michael Housman; December 11, 2013
  6. 6. 6Is your Employee Referral Program as good as you think Standard Rewards Lack of Tracking & CPI Spam Issues No Source Linkage Lack of Change Failure to Acknowledge Less Targeting & Personalization Programmatic Referral Challenges: Effective Sourcingof HighQuality Talent
  7. 7. 7Is your Employee Referral Program as good as you think Employee Referrals: Pitfalls 1. Being slow or non-responsive with referrals 2. Delaying payment 3. Communicating too much; e.g., spam 4. Failing to update, target, refresh program 5. Failing to track results 6. Lame rewards 7. Using a confusing, difficult or manual process What are you going to do differently?
  8. 8. 8Is your Employee Referral Program as good as you think Best Practices in Employee Referral Programs 1 •Streamline and simplify referral programs 2 •Target communication;keep the referrer in the loop 3 •Flex terms and programtargets 4 •Close the loop with the candidate and the referrer 5 •Managetop referrals; build a pipeline 6 •Seek new hire referrals 7 •Track,recognize and reward sources
  9. 9. 9Is your Employee Referral Program as good as you think Some Adjustments Are Simple . . . Sample Target Communication Date: XX/XX/XXXX Dear XX: I would like to personally thank you for your referral of XXXX for the position of XXXX. Our employee referrals are the most reliable way we find quality hires, and we truly appreciate your efforts in helping us attract Manhattan's most important asset-our people. We look forward to meeting XXXX, and we encourage you to continue to be on the lookout for your future co-workers! Sincerely,
  10. 10. 10Is your Employee Referral Program as good as you think Source Candidates Hires HireRatio Employee Referral 222 58 26% LinkedIn 302 41 14% College Recruiting 222 120 54% Job Fair 23 1 4% Staffing Agency 5 1 2%
  11. 11. 11Is your Employee Referral Program as good as you think Next Step Recommendations • Realistically evaluate the current state of your business:  Financials / stability  Culture  Growth Outlook  Pay / Perks • Develop an elevatorspeech and share it broadly • Align your referral program with your business strategy
  12. 12. 12 For more information, visit www.zalp.com To book a free demo, drop a mail to info@zalp.com You may also call us for any other assistance 1-866-217-1267 www.linkedin.com/company/zalp www.facebook.com/zalp03 www.twitter.com/zalptweets

×