Referral Reward Program
For my future Business partner
Benefits of Employee-Referral Programs
One benefit of an employee-referral program is that it can provide the employer with a source of passive candidates — those workers who are not actively seeking new jobs. This not only expands the employer’s pool of potential candidates but also tends to produce higher-quality candidates,Candidates referred by employees also tend to be of higher quality because the referring employee usually screens his or her referrals closely. After all, his or her reputation is somewhat on the line with every person he refers for a position. Referring a string of unqualified candidates reflects poorly on the referring employee’s judgment, which may affect his or her own career prospects.
The usual monetary bonus paid to a referring employee for a successful referral can be a significant morale booster. It reinforces the tendency to refer high-quality candidates to one’s own company, even when no positions are available. This helps to establish an ongoing recruitment process.
Employee-referral programs can replace more expensive recruitment channels such as newspaper advertising, employment agencies, job fairs and so on.
Employee-referral programs are especially effective in the case of highly specialized positions that might be difficult to fill through conventional channels. People tend to associate with others in their professions, which gives them access to specialized or rare talent