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Innovations in Employee Referral Programs
Kara Yarnot, Founder & President
Recruiting Trends Conference 2014
Imagine………
2
MERITAGE TALENT SOLUTIONS’
EMPLOYEE REFERRAL
TRENDS REPORT
2014
3
BENCHMARKING
PROGRAM STRUCTURE
Who Has Formal Employee Referral
Programs?
of companies report
having a formal
employee referral
program
71%
4
86%
plan to launch a
program in the next 18
months.
36%
Referrals Continue to be a Primary Source
of Hire for Employers with Referral
Programs
5
% of External Hires that are Referrals
27%
0 - 25%
26 – 50%
51 – 75%
76 – 100%
Don’t know
47%
38%
4%
4%
7%
of companies with referral
programs report that more than
half of their external hires come
from their referral program.
8%
of companies report meeting or
exceeding their referral program
hiring goals.25%
of companies don’t actually have
hiring goals for their program25%
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Increasing the Quality of the Candidate pool
is the top goal for companies.
GOALS OF REFERRAL PROGRAMS
10%
0%
30%
20%
50%
40%
70%
60%
90%
80%
100%
Increase Quality Increase Quantity Decrease Time
to Hire
Increase
Retention
Increase
Diversity
Other Don’t Know
Currently have program
Planning to launch program
93%
67% 61%
36%
58%
27% 27%
49%
32%
18% 9%2% 2%
Referral Program Structure
REFERRALPROGRAM MANAGEMENT
Centralized
program
management is
the most common
management
structure.
76%
64%
Centralized
70%
60%
50%
40%
30%
20%
10%
0%
80%
9% 0%16%
9%
27%
Decentralized Hybrid Not yet
decided
Currently have program
Planning to launch program
7
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Tools Used to Manage Program
Currently have
program
Planning to launch
program
64%
55%
50%
18%
14%
27%
3%0%
18%
Spreadsheets ATS 3rd Party Other Not
Decided
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Referral Program Incentives – Cash is King
of companies offer
or plan to offer cash
incentives for
referral hires.
59% Cash awards to
employees for referral
hires are the most
common incentives
employed.
Average Cash Incentive Paid for Referral Hires
Less than $1000
26%
73%69%
2% 0%18%
4%9%
$
$
Currently have program
Planning to launch program
Between $1000 and
$4999
$5000 or greater Don’t know
18%
10
Thinking Beyond Cash
of companies offer or
plan to offer non-cash
incentives for referral
hires.
25%
54%Prize
Drawings
35% Others
27%Company
Logo Items
15%Vacation
Days
11
Referral Program Enhancements
Social
Referrals
Mobile
Accessibility
Improved
Marketing
Non-
Employees
Improved
metrics
Complete
Overhaul
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PRIMARY REFERRAL PROGRAM
TRENDS IDENTIFIED
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Social Referrals - Driven by the
implementation of 3rd party
Referral Technology
TREND # 1
Types of Social Referral Tools
Broadcast
Broadcast & Discovery
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All of the 3rd party referral
tools are based on social
referral functionality.
Companies planning to launch referral programs are more likely to use 3rd Party Referral Tools.
Currently
have
program
14%
Planning to
launch
program
27%27%
3rd Party Referral Tools
How Satisfied Are You With Your Current
Referral Tools?
SATISFACTION WITH CURRENT REFERRAL TOOLS
16
of respondents who are Very
Satisfied use a 3rd party
solution.Very
Satisfied
Partially
Satisfied
Neither Satisfied or Dissatisfied
Partially Dissatisfied
Very
Dissatisfied
of respondents who are Partially
Satisfied use ATS Solution,
63%
83%
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Moving Beyond the “Employee”
Referral Program
TREND # 2
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Individuals Beyond Employees Included
in Program
Customer48%
100%
Social Media
Connections
48%60%
Other26%
20%
Alumni70%
80%
Planning
to launch program
Currently have
program
Vendor35%40%
of respondents with programs already
include non-employees in their
programs.
22
%
An additional 17%
plan to expand their
programs to include
non-employees.
17
%
of respondents planning to launch
programs with include non-employees
in their programs.
45
%
THANK YOU
Kara YarnotPresident, Meritage Talent Solutions
@klyarnotLinkedIn.com/in/karayarnot
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