Simple Steps to Transform your Employee Referral Program


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Simple Steps to Transform your Employee Referral Program

  1. 1. Simple steps totransformyour referral
  2. 2. • Ittakesanaverageofjust10.4referralstomakeahire.• At a typical company, referrals account for anywhere from 24% toone-thirdofallhires.• Some companies make as many as 75% of their placementsthroughreferrals.• Referral hires perform 3% to 15% better than hires from othersources.• Referral candidates accept offers 15% more often than regularcandidates.A Workforce Management and Ohio State University study found thatcandidates hired through an employee referral had a 25% higherretentionratethanthosehiredthroughothermeans.If you work in corporate recruiting, this piece of information is hardlynews. For one thing, its a matter of common sense that the peopleclosest to your best employees would probably make good employeestoo. For another thing, several commonly cited statistics illustrate thevalueofreferrals.Simple steps to transform your referral programEmployee Referralsmost certainlymake thebest hires As Research States:
  3. 3. Recognizing benefits like these, more and more forward-thinking HRdepartments are trying to optimize their employee referral programs(ERPs) to yield more high-quality referrals. In fact, its not uncommonforHRstaffstosetagoalofincreasingemployeereferralsby50%.Whatifyoucouldsubstantiallyincreaseyourpercentageofhiresmadefrom employee-initiated referrals? What impact would thisimprovementhaveonyourrecruitingbudget?And this is possible by leveraging the power of social media with theemployee referral program of an organization. Using sociallyintelligent tools that engage employees and use them as recruitmentambassadorsistheneedofthehour.The recruiting industry is full of ideas on how to optimize your ERP toimprove the quality of your referrals while reducing time-to-hire andcost-per-hire. Lets take a look at some simple steps when combinedwiththerighttoolscantransformyoureferralprogram.Today there is a growing importance of engagement andrelationship building with potential candidates. With themodified communication patterns, candidates expect two-wayinteractionswithrecruiters.Employee Referralsmost certainlymake thebest hiresEmployee Referralsmost certainlymake thebest hiresSimple steps to transform your referral program
  4. 4. • A catchy program name, punchy tagline, and custom logo. Makesure your program messaging stresses the benefits to theemployee, as well as to the company and the employees friends.• Branded giveaway materials, such as mouse pads, water bottles,coffeemugs, laptop bags, and apparel.• Periodic awards ceremonies at which employees who earnedreferral bonuses receive oversized novelty checks, much likesweepstakes winners.• Quarterly prize drawings for employees who make successfulreferrals. These prizes can be awarded in addition to anypredetermined bonus checks.An ERP cant just be something that lives on an intranet page, likelyto be seen only by employees who are looking for it. Drivingparticipation in your ERP will require consistent marketing to yourentire employee base.Marketing yourERPSimple steps to transform your referral programTo keep your ERP top-of-mindwith employees, considerimplementing any or all of thefollowing marketing components:
  5. 5. • A program newsletter that interviews employees about how theyhave used their bonuses, inspiring others to achieve the samesuccess.• Targeted messages to employees who work in specificgeographies, or who are most likely to have connections that canhelp fill your hottest job openings.Marketing yourERPSimple steps to transform your referral program
  6. 6. A second key priority in optimizing your ERP should be to deliver apositive referral experience for your employees. Your goal? Increaseemployeeparticipation by making it easy for every employee to sourcetalent.• Increasethevolumeandqualityofyourreferrals.• Prioritizeandfollowupwithrecruiters,employees,andcandidates.• Incentivizeemployeestokeepreferringtalentedcontacts.• Ask employees regularly for referrals. Send automated, targetedemailsthatencourageemployeestosubmitthenamesoftheirmostqualifiedcontacts.• Help employees dig into their social networks. Dont assume youremployeeswillrememberalltherelevantcontactsintheirFacebookor LinkedIn account. Chances are, they have hundreds or eventhousands of connections and wont be able to recall offhand whichKeepingemployees thepriority Your ERP should be helping you:You can achieve these goals by focusing onthree central tasks:Simple steps to transform your referral program
  7. 7. Keepingemployees thepriorityof them fits well for any specific open position. Instead, using socialmatching technology to reach these connections automatically canbe a great solution. Socially intelligent employee referral tools suchasZALPcanhelpyoudosowithease.• Help employees share jobs quickly and easily. Employees dontwant to add more footwork to their schedules, even if theres achance theyll earn a $1,000 bonus check. If you want to maximizeparticipation in your program, youll need to help employees refertheir friends within a matter of a few clicks. ZALP gives youremployees not one but five easy and convenient ways to makereferrals.And as you optimize your ERP, you should frequently reassess whetheryour rewards serve two purposes: driving employee participation, andensuringahighqualityofreferrals.• Do my employees value monetary rewards, gifts, or charitabledonations most highly? If you dont know the answer, considerrunningasurvey.Ask yourself:Simple steps to transform your referral program
  8. 8. • Should we offer employees a choice of rewards? Sometimesoptions drive participationbut too many choices can beoverwhelming and can actually diminish interest among would-beparticipants.• Is our program attracting top performers? One way to drive higher-quality referrals is to offer bonuses only after a new hire hasremained with the company for a set period of time perhaps 90days.• Does our program build teamwork and pride among theworkforce? Cash awards will convince most employees to sit upandtakenoticeasZALPcanhelpyoudosowithease.But according to recruiting thought leader Dr. John Sullivan, youshould “instill in your employees that the primary reason thatthey should refer people is because the team wins when it hasthe best players. It is a superior motivator over monetaryrewards, because it turns referrals into an opportunity to providetheirteammatesandthemselveswiththeverybestco-workers.”Keepingemployees theprioritySimple steps to transform your referral program
  9. 9. In their hurry to make the ERP as easy and as appealing as possible foremployees, companies often neglect to optimize the candidateexperience.Buttheydosoattheirownperil.As you work to provide the best possible candidate experience, keep inmind that youre not just striving to avoid committing breaches ofetiquette and other relatively minor mistakes. Providing a positivecandidate experience enables your company to build a superioremploymentbrand.This,inturn,willhelpensureapipelineoftalentforfutureopenpositions.Simple steps to transform your referral programEnhancing the CandidateExperience
  10. 10. ZALP enables organizations to automate and streamline every aspectof their employee referral program while at the time same integratingit with the potent potential of social recruitment using its advancedsocialmediacapabilities.The unique aspect about ZALP is that it gives employees not one butfive easy and convenient ways to refer jobs to their connections.Interesting features like the ZALP Match ensures that even ifemployeesdonothaveatopofmindconnectiontomakeareferral,thebuilt-in intelligent match feature suggests the most relevant matchesforajoboutofhis/herownsocialnetworkconnections.Each of ZALPs features have been specifically developed togive organizations a new and innovative referral platform thatdrastically accelerates employee participation which in turnresults in a considerable reduction in the cost per hire and timetofill.Advanced features like the ZALP Track ensures that employees arekept well updated on the status of their referrals by giving them realtimeupdatesontheentirereferralprogress.The interesting thing about ZALP is that it is a highly scalable tool andcan be seamlessly used by organizations having 100 to even 10000+employees.Considering ZALP operates in the SAAS model (software -as-a-service) organizations do not have to go through the cumbersomehassles of integration and implementation. Organizations with even aglobal presence can effortlessly adopt ZALP without having to gothroughanyelaborateintegrationprocess.Unleash the potential of your Employee Referral Programwith ZALP–The Socially Intelligent Employee Referral ToolSimple steps to transform your referral program
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