Does your organization utilize an employee referral program? If not, it may be a great way to add to your recruiting efforts and get more qualified applicants for tough-to-fill positions. Let’s take a look at tips for setting up employee referral programs, and then, we’ll review a few of the pros and cons.
As the name implies, an employee referral program is a program in which there’s an incentive for existing employees to refer potential new employees to the organization. Usually, this is in the form of cash—a bonus of some sort for referring someone who is qualified and gets hired.