While it’s not an unproductive technique, it should not be the sole method a company uses to attract new hires. Employee referral programs are an excellent way to gain reliable new staff members.
It is clear that not only does employee-generated referrals bring about more hiring opportunities than online websites for job postings and careers however, these newly hired employees remain with their companies longer. According to Jobvite, less than 7% of the applicants for a typical business are referred by employees, compared to 42.9 percent who apply through job boards and 32.1 percent applying via career sites. About 40% of hiring decisions result from referrals by employees. The use of employee referrals makes it easier to hire applicants as they do not need employers to actively recruit them.
Employers who refer employees to your company is an excellent method to draw fresh members to your team who are committed and will stay with your company for the long haul. The chances are you’ll attract lots of qualified candidates and will be able to have a wide range of employees to pick from.