It’s no secret to anyone in Talent Management that employee referrals are the best. When I see that “Name of Employee Who Referred Me” field filled out I do a little happy dance and I bet you do too! It’s simple: good people know good people, and my company’s employees are the best! The challenge comes in motivating current employees to turn over those names. Here at HealthcareSource we’re tackling that in two ways: by making this a great place to work and implementing some pretty cool incentives.
The number one thing we looked at to boost our employee referral program was company culture. What makes HealthcareSource a great place to work and why would our employees want to refer their friends here? We focused on our core values and workplace environment, talking to employees about what they liked and giving them more of that! We saw our Glassdoor score soar, turnover decrease, and happy employees spread the word throughout their network.
Cool Stuff Doesn’t Hurt Either
We also knew that rewarding the referer is important. We’ve always had a bonus program that pays the employee cash if there referral gets hired, but there was still room for growth in excitement and engagement. So we thought, what’s more exciting than a huge flat-screen TV, right? So we decided to give one away! For each referral an employee makes in Q4 they receive one entry into a drawing for a flat-screen TV, Chromecast, and Netflix subscription. There’s no cap on the number of people you can refer, and the only rule is that they are qualified for an open position. It’s fun, simple, and anyone can do it!
The response has been fantastic. In 2013, we had a total of 50 employee referrals. To date — we’ve received over 130 employee referrals in 2014. Our success with employee referrals has allowed us to eliminate thousands of dollars spent on recruiter fees, and reduced our cost per hire by 40%! Employee referrals are the BEST source for recruitment because studies show referrals stay longer at the organization because they are tied to a friend here. If your employees are happy and motivated they’re going to spread your company’s hiring message to their network. Get creative and see what works for you!
Do you want to learn why HealthcareSource was named a ‘Great Place to Work’ and what it’s like to work here? Checkout our reviews on Glassdoor!