Give Stimulus to your existing Referral program. Now !

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A well planned and executed ‘Employee Referral’ program can create a wonderful hiring pipeline. Companies these days are engaging in innovative referral implementation to increase adoption.

Are you one of  these ? Does your organization have an balanced referral program yet only few people participate in it ?

Employee motivation may be a roadblock here!

A common pitfall with recruitment teams is that they fail to motivate employees enough for referrals.

Employees may not refer just because they believe it is part of their job responsibility.
Employees refer for one or more reasons below –

1. Help a friend get hired
2. Referral Incentive
3. Social Recognition
4. Help their company hire better

Data suggests close to 35% employees engage in referrals for the referral incentive.
Refer the distribution below –

Why Employees Refer their friends

It is therefore, important to keep employees motivated for employee referrals.

Incentives and social recognition account for 55% referrals – a dominant chunk.
Also, the best way to increase participation is to ensure public recognition and appreciation for all referrals and not just successful hires.
Do you have these included in your referral program already ?
if not, read on….

 1. Monetary Incentives

Monetary incentives are the best of the lot – they are simple to convey, get your work done easily and can be linked as tangible output to Employees’ actions.

It is not necessary to provide a large amount of money for referrals – even a small sum may do wonders as you will realize. What is more important is how you pay them.
You could divide the total payout into 10:20:70 ratio – 10% on referring relevant CV, 20% on shortlisting and rest 70% on closures(hiring).

Frequent payout – keeps your employees hooked on to the system .

2. Non- Monetary incentives

In case your policies do not allow money, don’t worry.
Payment in kind works equally well. Employees should be told upfront on what are the prizes on offer and the conditions for achieving them.
This helps build excitement into the system.

3. Public Recognition

In case you do not have a referral payout scheme, dont worry about it !
Employee Referral can be made interesting through creating a buzz within the organization and making  your Referee employees as ‘Referral Heroes’

You could start ‘Referral Champion of the month’ and display Employee names
with successful referrals in emails , posters and cut outs across the employee floors.

Make it interesting for the employee and it will work ! – everyone likes positive attention.

Looking for ideas on what your referral incentive can be ?
Read our ideas on Top Incentives that can make your Referrals work !

Happy Hiring !
Naukri Referral Team

Contact us for a free Demo on Naukri Referral Tool