Do Employee Referrals Result in the Best Hires?

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Can Employee Referrals Help You Hire The Best Talent? - TalentVine Blog

No one knows your organisation better than the existing employees. Therefore, their referrals are an invaluable resource for your organisation. They have a good feel for the type of person that would thrive in the existing culture. It is because they understands your company values, culture, deliverables and most importantly, your goals. Your employees will know people in their circle that resonate with this.

There is no substitute for a personal connection when it comes to candidate introductions. Sourcing through employee referrals is not just authentic but also time-saving. Additionally, this will heavily reduce employee turnover, as they have a good feel for the type of person that would thrive in the existing culture.

Representing
current employees as frontline recruiters lessen the burden on HR. Thus, organisations should trust their employees to seek the best talent in the networks on your behalf. Referrals impact employee engagement, productivity and retention. They will also pave the way for existing employees to act as agents of change for an organisation and feel they are making an impact.

So, how can you implement a top-level employee referral scheme?

1. Provide recognition and incentives to encourage quality referrals.

This shouldn’t just be money. You can offer sports or cultural tickets, dinner vouchers or additional time off. However, if you opt for this route, then a tiered system is an effective tool to motivate employees. Offering higher rewards for harder-to-fill positions is a good example. You can also offer more to employees if referred candidates get interviewed, get hired or stay at your company for at least six months. In short, you should aim to receive referrals that will last, and thrive within the business.

2. Implement efficient communication methods.

Utilising mediums like Slack to communicate hiring messages helps to spread the word like wildfire! Additionally, employees can post job ads on professional platforms like LinkedIn and their own Facebook page. Thus, saving the money spent on job boards as you benefit from the network effect.

It’s important to keep employees up to date with where the referred candidate is in the process. Not hearing back from internal HR about where the candidates currently are in the process, will make them reluctant to refer a talent in the future. Even if the referred candidate isn’t successful, a simple thank-you message will encourage them to continue looking for great people.

3. Clearly explain the job requirements

We can’t rely on all employees to know what you’re looking for in an employee. Whilst they may have a good idea of the cultural fit, knowing the job requirements is a different story.

Include the job descriptions, the application processes, and you can even include some highlights round what you’re NOT looking for. The U.S. energy company DCP Midstream prevented unqualified referrals by using the below campaign. Remind your employees that not every friend or acquaintance makes a good hire!

Great guy, unless you have to work with him - TalentVine

Building referral programs systematically will aid in a productive investment of your employees’ time and effort. Embrace the new innovative approach by sourcing candidates through employee referrals. However, relying on referrals alone is not recommended as this leaves you fishing from a small pond. Always spread your net as wide as possible. You should utilise job boards and recruitment specialists simultaneously, so you can access candidates outside of your network.

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If you’d like to discuss your current hiring processes, we are always happy to help. Please don’t hesitate to get in touch with the TalentVine team, so we can connect you with +370 specialist recruitment agencies!

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