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Employee Referral - Innovative Approaches without Referral Bonus
The document discusses the efficacy of employee referral programs as a recruitment channel, highlighting their high return on investment and quality of hires compared to other sourcing methods. It presents statistics indicating that employee referrals generate a significant portion of external hires and emphasizes the importance of cultivating a referral culture within organizations. Recommendations for enhancing referral programs include formalizing processes, involving leadership, and leveraging existing employee networks.
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Employee Referral - Innovative Approaches without Referral Bonus
- 1. Employee Referrals Making the Most (Referrals) of Your Program © iQoncept - Fotolia.com William Chin Director, APAC Staffing 1Sunday, July 28, 2013
- 2. © gow27 -Fotolia.com A recruitment channel to identify potential candidates by leveraging on existing employee’s professional and personal network A recruitment channel to source potential candidates from existing employees’ professional and personal network 2Sunday, July 28, 2013
- 3. © laci619 -Fotolia.com The ORIGINAL Recruitment Social Network 3Sunday, July 28, 2013
- 4. Have a formal employeereferral program www.careerbuilder.com © blanche - Fotolia.com Career Builder: Referral Madness eBook 69% 4Sunday, July 28, 2013
- 5. © hyunsuss -Fotolia.com Career Builder: Referral Madness eBook Rate employee referrals as the best ROI against other sourcing channels 82% 5Sunday, July 28, 2013
- 6. © Zdenka Darula- Fotolia.com External hires are generated through employee referrals “SHRM 2001 Employee Referral Program Survey.” Sullivan, Dr. John; “Advanced Employee Referral Programs—Best Practices You Need to Copy” 25-33% 6Sunday, July 28, 2013
- 7. www.careerbuilder.com © stockyimages -Fotolia.com Rate employee referrals generate the best quality of hires Career Builder: Referral Madness eBook 88% 7Sunday, July 28, 2013
- 8. © akiyoko -Fotolia.com OpEx 8Sunday, July 28, 2013
- 9. © Tan KianKhoon - Flotilla.com © iQoncept - Fotolia.com Expectation of Staffing to Deliver 9Sunday, July 28, 2013
- 10. Time to FillCost per Hire Sourcing Channels Diversity Hiring Experienced Hires to Target New Grad Hires to Target First-Year Turnover Quality of Hire Interviews to Offer Offer Accept/ Reject Rate Customer Satisfaction More... © Creativa - Fotolia.com Recruitment KPI 10Sunday, July 28, 2013
- 11. Advertising + AgencyFees + Employee Referrals Fees + Travel Cost of Applicants and Staff + Relocation Costs + Recruiter Pay and Benefits Number of Hires Cost Per Hire © picamaniac - Fotolia.com Cost Per Hire 11Sunday, July 28, 2013
- 12. © freehandz -Fotolia.com Poor-Quality Candidates Long Fill-Time High Recruitment Costs Better Faster Cheaper Hiring Effectiveness 12Sunday, July 28, 2013
- 13. Case Study •Weekly Newsletter •RafflePrizes •Lunch with Leaders • © paylessimages - Fotolia.com © Creativa - Fotolia.com •Recruiter Networking w/ Employees 13Sunday, July 28, 2013
- 14. © kraska -Fotolia.com Employee Referral Culture No Bonus Payments BU Leaders Involvement High ImpactProactive Recruiters 14Sunday, July 28, 2013
- 15. Budget Not a Lot CostEffective - High Impact Referral Budget $35,000 USD For the Region Agency Spend $550,000 USD For a single country 15Sunday, July 28, 2013
- 16. Referral Results !"#$%&''( )'*'++,$-( ./0( 1%2(3%,+4-( 5/0( !"#$%&"'67( 89'6:&-(;.0( !""#$ !"#$%&''( )'*'++,$-(./0( 1%2(3%,+4-( ..0( !"#$%&"'56( 78'59&-(:;0( !"#"$ !"#$%&''( )'*'++,$-(./0( 1##$2'3(45( 625'-(780( !"#$%&"'59( 1:'5;&-(<<0( !"##$ !"#$%&''( )'*'++,$-(./0( 1##$2'3(45( 625'-(.70(!"#$%&"'58( 19'5:&-(;<0( !"#!$ Above average referralrates (without referral bonus) Agency utilization below market 16Sunday, July 28, 2013
- 17. Final Word Remember This? 1 Don’t Measure the Recruiter 2 Measure the System •If all your other recruiting channels remain the same •Drive up your referral rates •Your agency spend will go down 3 17Sunday, July 28, 2013
- 18. 18© gl0ck -Fotolia.com What are you waiting for?... 18Sunday, July 28, 2013
- 19.
- 20. Connecting With Me Informationcontained within is the opinion of the author and not that of my employer. http://www.linkedin.com/in/williamchin http://www.slideshare.net/williamchin https://twitter.com/#!/@williamchin http://www.asiahrblog.com http://weibo.com/williamchinhr 20Sunday, July 28, 2013
- 21. Presented at William Chin Director, APAC Staffing 21Sunday, July 28, 2013