Why Employee Referrals are one of the best ways to hire !

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Employee Referrals are one of the best ways to recruit.
Reasons are galore ! Read on find out more.

Benefits of Hiring through an Employee Referral Program
1. Less Expensive
Average Cost of hiring through Employee Referrals could range anywhere between 40 % – 60% cheaper than other channels of hiring

2. Quicker than other recruitment channels
Closure time is the essence of recruitment in current era. There is a marked average reduction in time by 20% – 30% when hiring through Referrals

3. Quality Hires
Although a tough parameter to measure, Quality hiring is an attribute more likely to be associated with Employee Referrals as compared to normal hiring. This can be especially true in case referring employees are themselves great employees.

5. Cultural Fit and Adaptability
Research suggests that hires through Employee Referral are found to have longer stay in organizations.

5. Higher Retention of employees
Referrals are a better fit in your organization because of two primary reasons – one they are pre-vetted and approved by your referring employees; Two, they are better in their understanding of the company culture and “How-things-work-here” as compared to a direct hire. Both these reasons provide faster orientation and better adaptability for the incoming hire.

You can also read our article on How to create a good Referral Program

Get started with our Naukri Referral Quick Start Guide. Download it now