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Terviu - Why Hire Through Referrals?

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Recruiting through referrals is no news. In fact the roman emperor Julius Caesar developed the first referral program that history knows: he paid 1/3 of a soldier annual salary for each military referral.

But… do you know the potential that recruiting through referrals hice?

In this eBook we expose the main benefits of enhancing and managing the recruitment through referrals and we give you a contact with Terviu so we can help you transform your company into a talent magnet, and a great place to work!

Download our free eBook here: http://www.terviu.com/ebook-en

Published in: Recruiting & HR
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Terviu - Why Hire Through Referrals?

  1. 1. HIRE THROUGH REFERRALS? WHY
  2. 2. company may have, have profiles in Social Networks? That’s 5,500candidates only from your employees Did you know that people have an average of among their networks and that out of 100 employees that a 100 recommendable contacts 55
  3. 3. #1 sourceAnd 91% of employers get information about candidates from their social networks. And did you know that the internet is the for recruiting since 2012? #1 source
  4. 4. Referrals Direct Source Job Boards Social Media Other Sources 92% 61% 50% 32% 20% Recruiting through referrals has shown to be the best hiring source in 92% of companies.
  5. 5. And 76% of these companies recruit more than 50% of their employees through referrals.
  6. 6. compared to 39 days on job boards and 55 days on career sites. Recruiting through referrals is by far 29 days the fastest method, taking only 310km/h 30 060 90 120 150 180 210 240 270 300 330
  7. 7. And by referrals, the conversion rate Is much higher! In companies with no formal referral programs and no automation, career websites and job boards are the main source for candidates. Their conversion rate, however, remains far below that of referrals. Referrals Hired Number of Candidates Career Sites Job Boards 32% 21% 43% 15% 7% 40%
  8. 8. Referrals Career Sites Job Boards Plus, referrals are the main source of savings from retention 46%33%22% year 1 45%35%20% year 2 47%39%14% year 3 Achieving a retention rate of 47% in three years.
  9. 9. Referrals help you save in recruiting Recruiting by referrals is 58% cheaper than other sources. At the same time, the average cost of hiring through referrals has been positively affected with the integration of Social Networks to the program (lowering it 48%), and automation (lowering it 33%).
  10. 10. Referrals are prefered 86% of the companies felt referrals were the number one source for a quality candidate. 76% of the companies said the recruiting process is shorter. 30% of the companies planned to invest more in referrals. 51% said it was less expensive to recruit. 69% of the companies compensate employees for referrals. 70% of employers felt referred hires fit the company culture and values better.
  11. 11. Regarding productivity Referrals are 25% more productive than hires from any other source Months at Work Productivity 10 20 30 40 50 60 70 80 *Referrals *Other Sources *8*7*6*5*4*3*2*1 75% 50%
  12. 12. As for proportionality 1 out of 5 referrals is hired. While in Job boards, 1 out of 100 is hired.
  13. 13. Aditional Benefits 1. Referrals are #1 in Return on Investment. 2. Referrals are the best quality hires: they perform better compared to any other source of recruitment. 3. Referrals produce the best quality candidates: candidates from referrals have 5 times more chances to get hired. 4. Referrals have a better adjustment to the company culture: your employees know the company and they can identify who will fit better. 5. Referrals are the #1 source of diversity.
  14. 14. referrals are the 1 Quality, Retention, Productivity, Diversity, Growth and Savings. Summarizing, #1 source of
  15. 15. Highlights 1. Recruiting through referrals has proven to be the best source in 92% of companies. 2. Recruiting through referrals is by far the fastest, taking only 29 days. 3. Referrals has the highest conversion rate. 4. Referrals are the main source of savings from retention. 5. Recruiting through referrals is 58% cheaper than other sources. 6. Referrals are 25% more productive than hires from other sources.
  16. 16. Sources - CareerXroads 2011-2012 - Dr. John Sullivan and Associates Research - www.drjohnsullivan.com - www.herdwisdom.com - www.staffing.org - www.slideshare.net/gerrycrispin/2012-careerxroads-source-of-hire-channels-of- influence - www.ere.net/2010/11/15/knowing-versus-thinking-your-employee-referral-program- isn%E2%80%99t-as-good-as-you-think - www.ere.net/2012/05/07/10-compelling-numbers-that-reveal-the-power-of-employee- referrals/ - www.ere.net/2012/08/22/employer-branding-numbers-everyone-should-know/ - www.itbusinessedge.com/cm/blogs/all/gamification-could-transform-enterprise-software- keep-employees-engaged/?cs=45772 - www.careerbuildercommunications.com/pdf/referralbook.pdf - www.careerxroads.com/news/sourcesofhire11.pdf - www.prweb.com/releases/2012/9/prweb9875038.htm - http://online.wsj.com/article/SB10001424052970204294504576615371783795248.html?mod =e2tw
  17. 17. contacto@terviu.com Or perhaps you may opt for a consultation on improving your referral program results. We’ll be glad to help. Many studies have successfully demonstrated that referrals are the best recruiting source for your company. If you need a tool that can help you achieve these results quickly and easily TERVIU IS ONE CLICK AWAY
  18. 18. ©2014 eBook by Estudios Fantástico Irreal forTerviu Your Company. Your Talents. Your Culture! To book a free demo, drop a mail to You may also want to call us for any other issue For more information, visit WWW.TERVIU.COM CONTACTO@TERVIU.COM +56 9 6919 4226 www.linkedin.com/company/terviu www.facebook.com/Terviu www.twitter.com/Terviu www.linkedin.com/company/terviu www.facebook.com/Terviu www.fantasticoirreal.com www.twitter.com/Terviu www.terviu.com

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