Power of Employee Referrals - Are you missing out?

Power of Employee Referrals

Employee Referral is a new technique being widely applied by different companies and business to find potential candidates for new job openings.  It is an internal Recruitment strategy where existing employees identify potential employees using social media as a tool. It gives the employees the chance to select and recruit people from their social networks for open positions at their company.

This is an underused employee strategy, even though it is very efficient. It identifies top prospects, which is not possible through a regular job search mode, and it also allows the existing employees to evaluate their connections based on skill and experience. This combination makes this Recruitment strategy fast as well. Here are some reasons why you should definitely look into the power of employee referrals:

  • Quick hiring

Through the process of employee referral, less time needs to be spent on Recruitment as existing employees have been selling the company to potential candidates before the process even began. The candidates also do not need to be screened as closely this way, speeding up the hiring process even further.

  • Quality hiring

Other than it being quick, this process can connect you to some seriously talented individuals. These are people you would not have been able to reach through conventional Recruitment methods. If you have experienced and trusted employees, chances are the people they refer to you, will also be the best at their job. The current employees also have a better understanding of the requirements of the company and who will best suited to the company culture, hence ensuring quality hires.

  • Better Performance

Employees are able to convey to potential candidates about what to expect from the company. Experts feel that those hired through employee referral have better performance and tend to stick around longer than employees hired through other methods.

  • Cost effective

This process is definitely more cost effective than conventional hiring practices. The company reaches out to potential employees using existing employees. The process is also faster and more efficient, lowering the amount of money that is spent on trying to find the right person for the job.

Employee referral also makes things easier for the job seeker; the job comes to them instead of them going to the job. But the process is not easy in itself. The job seeker needs to work on his online profiles, professional and social, because that is where an existing employee may reach out to you if they feel that you may be interested in the job.

Networking is also very important, you need to be able to make connections and work on them. The contacts should not be based on one time transactions; they need to be built on interaction and trust so the other person will feel good about recommending you for a position at their company. All in all, employee referral makes things easier for both the company and the job seeker and is a great way to hiring!

Get your employee referral system working and be a smart recruiter on the Gold Coast. Fresh HR Insights can assist business owners with their Recruitment needs – find out more HERE