3 Employee Referral Program Best Practices
Starting an employee referral program can be overwhelming, but if you take these three steps you'll be off to a strong start. Check 'em out!👇
Step 1: Do some research.
Before you dive headfirst into creating a referral program, you'll want to get your bearings on what works well for other organizations. What works is going to vary on your company size, industry, and hiring goals. Take a look at the referral programs of organizations that fit your company profile and brainstorm off that.
Check out our most recent Employee Referral Programs Report to get the ball rolling.
Step 2: Set a referral reward.
You'll need a referral reward, but it doesn't need to be a massive cash bonus. If you checked out the Employee Referral Programs Report in Step 1, you probably saw the slides talking about diminishing return on large referral bonuses.
Depending on your organization, something as small as a $25 Amazon gift card or dinner with the CEO could be enough to move the needle. Other reward structures include referral contests and raffles to motivate friendly competition. You know what motivates your team more than anyone, use that knowledge to come up with something creative.
Step 3: Generate some hype.
Employees are more likely to submit referrals to a recruiting team they know is excited to hire and who are appreciative of the referrals they submit.
Announcing your new employee referral program at an all-hands meeting is a great start. But even after a huge announcement, your team may need some reminding. Shoutout top referrers and reward winners at following meetings or in a monthly update email to maintain momentum.
Questions? Send them to us at firstname.lastname@example.org!