This document discusses how companies can reduce hiring costs through employee referrals and the Wisestep referral hiring platform. It notes that hiring is expensive, costing $4,000+ per hire in the US and £4,500 in the UK. Employee referrals provide high quality candidates at lower costs than other hiring channels. Wisestep helps companies manage referrals from employees, social networks, website visitors, and their professional community in one place to reduce hiring costs by up to 50% while saving time.