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Although employee referral programs may have its problems, you can fix them. When you evaluate and then solve these major problem areas, you’ll start to see some real, long-lasting results. What do you think? What are some other reasons why an employee referral program may not work? Get a free indexing report for your organization to measure the true effectiveness of your employee referral program by benchmarking it against that of others. Register to generate your free report: www.er-i.net/register
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zalp.com
Is Your Employee
Referral Program
as Good as you think?
Is Your Employee Referral Program as Good as you Think?
WIDENING
While Most Recruiters have realized the Importance
of Employee Referrals, many still have simple policies
not Integrated Programs that:
• Help in Recruitment
• Build a Diverse Work Force
• Grow the organization’s Employment Brands
Performance Gaps between
Good Employee Referral
Programs and the Average
Ones are
Is Your Employee Referral Program as Good as you Think?
Recent European Study A Recent Study conducted across 145 Companies Revealed:
• Compared to other recruiting sources, the Employee
Referral Program had a success rate of over 42%
(Referral to Hire Ratio)
• 73% of the companies claimed that the cost-per-hire
through their Employee Referral Programs is
significantly lower than the other recruitment sources.
• More than 53% of the businesses surveyed already had
an established Referral Program in use, and 36%
planned to set up one within the next year.
Spanning
145
Companies
Investing in an Employee Referral Program and the right technology to support it Is crucial
Is Your Employee Referral Program as Good as you Think?
Is your ERP
• High Volumes
• Quality Hires
• High Interview to Hire Ratio
• High Retention ratios
• Low Time-to-Fill
• Satisfaction of Managers,
Employees & Prospects
• Increased ROI
helping you achieve: in the face of increased Hiring
Targets
• Outdated & Stale
• Showing a Plateau in Performance
• Necessitating a Quick Program Audit
Is your ERP OR
Is Your Employee Referral Program as Good as you Think?
USEFUL
CHECKLIST
Is your Referral Program Prioritized correctly? • The difference between a good & average program is
often the difference between focus & a one-shoe-fits-all
policy. Instead of covering the entire spectrum of jobs, an
effective referral program focuses on:
• Mission Critical Jobs
• Hard to Fill Positions
• High Priority Jobs
to check the relevance
& efficacy of your
Employee Referral
Program
Here is a
Utilizing Employee time in Referrals for positions that are easy to fill through other Recruitment Solutions,
does not Increase ROI in the long run.
Is Your Employee Referral Program as Good as you Think?
Social Recruiting
Solutions
Is your Referral Program making Optimal use of Social Recruiting Solutions? An effective Employee Referral Software, must facilitate the
Employee’s Social Media Relationships & provide Easy Tools
to convert them into referrals.
Optimal Use of
Structured technology solutions which empower employees in the Referral process work better than
fitting your process into the design of an available tool
Is Your Employee Referral Program as Good as you Think?
Operational
Responsiveness
Is your Organization as Proactive as you would like it to be? Slow Response Time is likely to affect the Referrals
negatively, as also to frustrate Employees. In order to
keep Interest Levels High:
• Both the Referral & the Employee must be responded
to, within a pre agreed time frame
• The time frames must be communicated early on, to
set common expectations
• Should you be unable to reduce the turnaround time,
it will be advisable to seek volunteers or reduce the
scope of the program.
Maintaining
Opt for an Agile Employee Referral Tracking Software, that can keep employees updated
about the status of the Referral made by them
Is Your Employee Referral Program as Good as you Think?
Is your ERP a maze for employees to trudge through?
• Even large rewards can fail to get employees to act, if
the referral program is not backed by operational
ease. It is worthwhile to consider:
• Does the process have too many complicated steps?
• Are the Employees able to access the program easily?
• Employee Referral Programs should be integrated
with the overall Recruitment Program
Ease of Use
A User Friendly Social Recruiting Software can go a long way in improving Employee Usage & Efficiency
Is Your Employee Referral Program as Good as you Think?
Relevant Reward
Programs
Is your Reward Program customized to excite your Target Audience?
• The Primary Positioning of a good Employee Referral
Rewards program is that referrals are to be made for
the benefit of the Team & the Organization . Few points
worth emphasizing are:
• Employees have a crucial role in building the team.
Employees are therefore positioned as Talent Scouts.
• Benefits in productivity when working along with the
best
• If relevant, increase in Employee Stock Value, as a result
of Increased Productivity can also be highlighted
Public Recognition of an Employee making Great Referrals, goes a long way in
Employee Motivation
Is Your Employee Referral Program as Good as you Think?
Relevant Reward
Programs
Employees can also be motivated & engaged in Referral Programs through non monetary appreciation such as:
• Personalized Thank You Notes
• Opportunities to Interact with Top Management
• Choice of vacation or work shift schedules
• Opportunity to appear in Company Product Advertising
An overall culture of employee appreciation on relevant referrals, can establish the importance of the
Employee Referral Program
Is Your Employee Referral Program as Good as you Think?
Relevant Reward
Programs
In addition to the recognition, you can also offer Prizes as well as Cash Awards:
• Rewards could vary basis Salary of the Position
• Higher Bonuses can be offered for Hard to fill positions
• Additional Awards can be granted for Referrals who turn
out to be High Performers
• Rewards can also be offered for candidates who come
close to requirement, but are not hired
Periodic Surveys to determine what would motivate employees, will help keep Rewards relevant
Is Your Employee Referral Program as Good as you Think?
Appropriate
Employee
Education
How important is Employee Education in your Organization?
Organizations need to provide adequate support &
training to enable employees to unearth their
contacts. Some important areas of education are:
• Where to look for Prospects?
• Best Practices to build Online Relationship with
Industry Resources
• Tips to help them leverage their Social Media
Networks
• Provide Improved Job Descriptions Provide Effective Tool Kits that reduce Trial & Error for Employees
Is Your Employee Referral Program as Good as you Think?
Referral
Hire Quality What steps are being taken to ensure Quality Hires?
Organizations need to set both Culture & Processes to
ensure Quality Hires through Employee Referrals:
• Performers should be proactively reached out to,
with required positions to be filled
• Weak Referrers need to be tracked & given feedback
• Boomerangs can be reached out to
• New Recruits can be asked for Referrals on
boarding.
Proactively approach Top Performers
Reach out to Boomerangs
Identify Weak Referrers
Is Your Employee Referral Program as Good as you Think?
Inclusive Program
Have you created an Inclusive Program to increase volume of referrals?
In order to increase Referral Volumes, it will be prudent
to bring the following people under the Program
coverage:
• Managers
• Non Employees such as Consultants, Customers
• Vendors
Managers
Non Employees
Vendors
Is Your Employee Referral Program as Good as you Think?
Referral Volumes
What are the specific measures taken to improve referral volumes?
The following measures can significantly impact the
referral volumes:
• Creating a community of referrers that includes
highly networked individuals
• Proactively seeking out employees who were earlier
working at firms being targeted for acquiring
employees
• Holding competitions among employees, challenging
them to visit competitor locations
Increase
Referral
Volumes
Is Your Employee Referral Program as Good as you Think?
Quantifiable Targets
Is your Employee Referral Expectation converted into Measurable Targets?
It will help employees know the seriousness of the
program if they have measurable targets. Targets can
be set at the following levels:
• SBUs
• Managers
• Employees
Employees
Managers
SBUs
Is Your Employee Referral Program as Good as you Think?
Periodic
Updates Are you reviewing the success or failure of the Employee Referral Program often?
Program Evaluation is an important component of
success. A review should be conducted at least once a
quarter to:
• Position the ERP in a changing Business Landscape
• Review the Performance Metrics
• Review the Performance Differential of the ERP
versus other Recruitment Methodologies
Target
Achievement Impact on Business
Operations
zalp.com
About Zalp
ZALP is a unique SaaS (software-as-a-service)
based social employee referral software
designed to help organizations efficiently
source the highest quality candidates through
the most valuable source of recruitment–
Employee Referrals.
zalp.com
Empowered with breakthrough features that
tap into the full potential of Social Media and
an extremely user friendly interface, ZALP is
every organization’s perfect Social Employee
Referral and Social Recruiting Software.
ZALP helps organizations boost their employee
referral output by upto 72%
About Zalp
%
zalp.com
Why Zalp
7 easy and convenient ways to refer
The success of any employee referral program depends on one primary factor:
Employee Participation
ZALP gives employees not one but seven easy and convenient
ways to make referrals. This ensures increased employee
participation like never before.
ZALP’s social media integrated features make the referral
process for employees not only easy but also fun.
zalp.com
For more information, visit www.zalp.com To book a free demo, drop a mail to
[email protected] You may also call us for any other assistance
1-866-217- 1267 www.linkedin.com/company/zalp
www.facebook.com/zalp03
www.twitter.com/zalptweets
Is Your Employee Referral Program as Good as you Think?
Do you already have an Employee Referral Program?
ER-i is the first ever initiative on employee referrals that brings together recruitment leaders from all across the world to set the benchmarks of an employee referral program.
Get a personalized indexing report for your organization that helps
you benchmark your referral program against industry leaders and
understand key performance indicators better.
Register now »