Employees don’t always give two weeks’ notice, and situations may arise when companies need to find new workers ASAP. While the normal hiring process can be slow, filled with delays and waiting periods, employee referrals reduce hiring times by as much as 40 percent, according to a Jobvite study. Read on to learn more about internal referral programs and how they can help you fill job openings more efficiently.
Are Internal Referrals Successful?
Research reveals that internal referrals are often more successful than other sources of hiring. According to Dr. John Sullivan research, 88% of companies report that referrals are their best source for qualified applicants. Additionally, referred employees may come with lower turnover. A study by FirstBird shows that two-year retention rates are almost twice as high with referred workers as those sourced from the job boards.
Should You Have a Bonus Program?
Clearly, your current workforce is a great source for finding future employees. However, engaging your team in the hiring process can be challenging. One of the best ways to motivate your workers to refer prospective employees is to create a bonus program that incentivizes them to help. While many companies provide cash rewards for employees who refer a candidate who winds up being hired, some businesses have found success with other methods. For example, you could offer flexible work hours or even a couple of days off as an incentive. Ask your employees which perk would be the most encouraging and go from there.
How Can a Staffing Agency Serve as a Referral Program?
Employee connections might not be sufficient to fulfill your company’s hiring needs. If you require additional support, consider working with an experienced staffing company like Accurate Personnel. We have extensive connections in the community and the expertise needed to determine what employees are right for the job. You can trust us to provide skilled, screened help.
Contact Accurate Personnel to Find the Top Talent for Your Team
Whether you need an administrative assistant or an IT tech, a warehouse worker or a hospitality expert, we can help you meet your needs quickly and effectively. To learn more about what we do, call today or contact our team online.