It has become more common for an employee in a company through their relationships to introduce a potential new candidate to a business. An employee referral bonus is a bonus paid to employees of an organization for referring to someone who goes on to join the organization. Typically this happens when the employer is growing rapidly and needs to add staff quickly.
Of course, these programs shouldn’t occupy all of your recruiting focus. However, the benefits that the program brings will cause you to consider using this form of recruitment.
Increase the company’s reputation
The company’s biggest supporters are its employees and positive employee feedback will be worth much more than any other communication efforts. The research has shown that 75% of candidates read company reviews to learn about its brand and reputation before applying for a position. With the existence of sharing forums, employees, former employees and applicants were all business reviewers; therefore, businesses must retain positive feedback to attract new candidates.
Improve staff quality
When employees recommend their friends and relatives, they need to consider those who have the qualities needed to be successful in their organizations. This is partly due to the employee’s understanding of the strengths and weaknesses of the referral, but also because they know that referrals personally as well.
Besides, referrals are often consulted through the recruitment process because your current employee will probably advise the referrer on how to adapt and advance in the business. It seems like such an introduction implies inequality, but it benefits everyone. For example, the new employee is aware of all the organizational responsibilities and expectations before starting the company-specified job.
Maintaining Company Culture
A strong corporate culture has been known to produce happier and more productive workers. To maintain this culture, the first role is to introduce the company’s vision, mission, and cultural values in interviews, then look for suitable candidates. Fortunately, when you have the candidate who already understands all of these relevant parts, the recruitment process and job referral programs will be much simpler and more efficient.
Referral Bonus programs help strengthen organizational engagement and make employees feel as if they have a stake in the future of the business. Introducing new candidates can make employees feel appreciated, which will help improve employee motivation.
Currently, about 63% of companies have an employee referral program. While organizing and implementing a referral program is a challenge, it will bring great benefits to businesses. Employers should consider the importance of this program and the benefits it offers to come up with appropriate HR strategies.
Because referral marketing relies on word of mouth and your existing customers, your marketing costs can be cut down exponentially. it’s a lot less expensive pushing marketing efforts towards your existing customer base than it is to promote to new customers.
Think about these aspects.
- A customer is more likely to open an email from you than a potential prospect
- You can promote your referral program through existing marketing efforts
- An incentive is your primary cost (and you only pay for performance rather than per click)
Employee referral bonuses are excellent ways for employees to contribute in a powerful way to the organization’s goals. What’s great about them is that an employee is putting his/her professional reputation on the line for a referred person. They know what the place is like so if they refer someone they’ll know who has the right temperament and personality to match.
If you have a friend looking for a new job, why not recommend Sioux HTS and be rewarded with our attractive bonus!
For every friend you refer to and ultimately get hired for a job from us, you will get a referral bonus of up to 20 million VND. Learn more about this program at http://bit.ly/Sioux_Referralbonus_en
All people including Sioux employees and non- Sioux employees can join this program with just 3 simple steps:
- Step 1: Check out our job vacancies at http://bit.ly/Sioux_Job
- Step 2: Track your connection down to find the qualified candidate(s)
- Step 3: Submit the candidate’s CV to firstname.lastname@example.org
We do not limit the number of referrals, so start following us on our company website or Facebook page, we constantly update the latest jobs that our company are actively in need of sought-after talent.
Phone: +84 236 3 888 756