Why Companies Choose Employee Referrals To Hire

Below you need to take a detailed look as below illustrated steps will explain that why Employee Referrals are emerging as a steady source of hiring:

• You Can Easily Get High Quality Candidates:

Well, this system of Referring Employees allows you to create a wide section of best amongst candidates who can be suited as the best for the job. The quality of the candidate is always high when you are seeking candidates through employee referrals. One of the reasons behind this is that the initial screening is already done by the current employee and as his reputation will be at stake, therefore, he will only be selecting the candidates who will be able to deliver. If the employee keeps on referring poor quality candidate, then it shows that he or she doesn't have much of a judgment power. It might also affect his own career as well, so he would definitely avoid referring someone who is not fit for the job.

• Monetary Bonus Is A Crowd Puller:

The monetary bonus that the company offers is a great way of encouraging this simple but effective employee referral program and it also helps the company get the best fit for the vacant position. It obviously works as a confidence booster and the employees tries to refer only the best candidate.

• Best Alternatives For Recruitment Channels:

If you have outsourced the recruitment process because of the complications involved in it, then you can rely on this system for getting hired to simplify the matter. It will also reduce the cost involved in the recruitment process. When you are using this good and in demand referral program, then you will save a huge fortune on advertising, job fairs, employment agencies, etc. Initial screening is done by the employees only, so you can save your valuable time as well.

• Best Suited For Specialized Positions:

There are some positions that are hard to fill through the conventional channels. So, if you have such a position open, then you can definitely try this actual referral program. Employees network a lot with various people in their own profession or otherwise and this is how they come across some rare talent, which is required for the extremely specialized position.

• The Retention Rate Is Much Higher:

The retention rate in case of worker referral program is much higher as compared to other sources. It is mainly due to the reason that the new employee is already familiar with the environment and it would not take lot of time or an effort on his behalf to absorb the culture of your company as he already knows someone from the company.

Source : articlesbase.com