Employee Referrals are the preferred way to meet your KRAs and is implemented by most organisations. According to a survey conducted by Jobvite the number of applicants received through Career Sites and Job boards are plenty but their conversion ratio falls far behind Employee Referral hires of 40% as against 7%. Yet we are faced with answering the critical question of how to increase the Employee Referrals Percentage.
Considering this particular development the Wednesday discussions that Sourcing Adda conducts was based on, “How do we increase the Employee Referrals Percentage” as suggested by our Hike Group Chat member Kanhaiya Lal from South and here’s what we discovered…
Some other ways to improve the percentage of employee referrals is by emphasising diversity hiring, provide referral cards to Employees, for target firm hires proactively approach employees who used to work at those firms, conduct referral events, offer supplementary bonus’ to employees whose referrals have been top performers one board, reward all employees for their referrals or if their referrals have made it to the final selection and you can also offer small rewards to first time referrals.
All of these aspects if dealt with appropriately can go a long way in boosting your employee referrals percentage. To get updates to our upcoming events and future discussions follow @SourcingAdda. In the meantime try and implement these suggestions and watch your rate of hiring soar.