Making Employee Referral programs work

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This presentation helps you understand how you can setup a fast, easy and effective employee referral program using the wisestep.com platform. Use it to believe it !

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Making Employee Referral programs work

  1. 1. Do you know your Co$t of Hiring?
  2. 2. Studies indicate that the Average Cost per Hire is $ 4,000 In USA
  3. 3. Studies indicate that the Average Cost per Hire is $ 4,000 In USA £ In UK 4,500
  4. 4. Studies indicate that the Average Cost per Hire is $ INR 4,000 In USA £ In UK In India 4,500 50,000
  5. 5. Average Cost per Hire through Recruitment Firms $ 18,700 In USA
  6. 6. Average Cost per Hire through Recruitment Firms $ 18,700 In USA £ In UK 12,000
  7. 7. Average Cost per Hire through Recruitment Firms $ INR 18,700 In USA £ In UK In India 12,000 70,000
  8. 8. Average Employee Referral Reward per Hire $ 640 In USA
  9. 9. Average Employee Referral Reward per Hire $ 640 In USA £ In UK 500
  10. 10. Average Employee Referral Reward per Hire $ INR 640 In USA £ In UK In India 500 10,000
  11. 11. Lets see what successful Employee Referral programs can do !
  12. 12. 33% % New hires through Referrals for
  13. 13. 33% % New hires through Referrals for 40%
  14. 14. 33% % New hires through Referrals for 40% 50%
  15. 15. 33% % New hires through Referrals for 40% 50% What % of your hiring is from Referrals ?
  16. 16. Referrals helped the company grow their facility from 100 to 300 employees
  17. 17. Referral Rewards paid to hire over 3000 people $ 7 MN
  18. 18. Referral Rewards paid to hire over 3000 people $ 7 MN Average Referral Reward paid out per hire $ 1000 - $ 2500
  19. 19. Referral Rewards paid to hire over 3000 people $ 7 MN Estimated Savings, if other channels were used for Hiring Average Referral Reward paid out per hire $ 1000 - $ 2500 $ 20 MN
  20. 20. Referral Rewards paid to hire over 3000 people $ 7 MN Estimated Savings, if other channels were used for Hiring Average Referral Reward paid out per hire $ 1000 - $ 2500 $ 20 MN What is your cost of not having a Referral program?
  21. 21. Average number of Referrals leading to a successful hire 15
  22. 22. 84 Average number of candidate applications from job boards leading to a successful hire Average number of Referrals leading to a successful hire 15
  23. 23. 84 Average number of candidate applications from job boards leading to a successful hire Average number of Referrals leading to a successful hire 15 Are you still spending more time and money on Job Boards than necessary ?
  24. 24. 5% % of Employees that normally participate in Employee Referral Programs
  25. 25. 5% % of Employees that normally participate in Employee Referral Programs 25% % of Employees that need to participate in Employee Referral Program to make it successful
  26. 26. 5% % of Employees that normally participate in Employee Referral Programs 25% What % of your employees participate in Referrals ? % of Employees that need to participate in Employee Referral Program to make it successful
  27. 27. <ul><li>Common Issues about Employee Referral Programs </li></ul>Oh ! I did not know we had a referral program
  28. 28. <ul><li>Common Issues about Employee Referral Programs </li></ul>Oh ! I did not know we had a referral program Employee Referral on Wisestep.com powered Careers Page XYZ CORPORATION
  29. 29. <ul><li>Common Issues about Employee Referral Programs </li></ul>Oh ! I did not know we had a referral program Employee logins to allow tracking of referrals All Open jobs and rewards are listed on the careers Section. Easy to Find, Easier to Refer Search for and Browse through all the Latest Jobs Employee Referral on Wisestep.com powered Careers Page XYZ CORPORATION
  30. 30. <ul><li>Common Issues about Employee Referral Programs </li></ul>I have to fill out 3 forms to refer my friends. That’s a hassle
  31. 31. <ul><li>Common Issues about Employee Referral Programs </li></ul>I have to fill out 3 forms to refer my friends. That’s a hassle Employee Referral on Wisestep.com powered Careers Page XYZ CORPORATION
  32. 32. <ul><li>Common Issues about Employee Referral Programs </li></ul>I have to fill out 3 forms to refer my friends. That’s a hassle Employees can login and refer jobs to hundreds of friends using email and social media in less than a minute. Its easy and its fast. Employee Referral on Wisestep.com powered Careers Page XYZ CORPORATION
  33. 33. <ul><li>Common Issues about Employee Referral Programs </li></ul>I refer my friends but I never know the status of their applications
  34. 34. <ul><li>Common Issues about Employee Referral Programs </li></ul>I refer my friends but I never know the status of their applications Employee Referral on Wisestep.com powered Careers Page XYZ CORPORATION
  35. 35. <ul><li>Common Issues about Employee Referral Programs </li></ul>I refer my friends but I never know the status of their applications Employee Referral on Wisestep.com powered Careers Page Receive applications that get tracked to the referrer automatically XYZ CORPORATION
  36. 36. <ul><li>What if an Employee Referral program with all these features can be added to your website in less than 10 minutes ? </li></ul>
  37. 37. Log on to www.wisestep.com/Recruiter/signin.aspx Act Now, Reduce your Hiring cost ! Make Employee Referrals your dominant hiring channel. Try us Today

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