Overhauling A Referral Program: A How-To
You’ve probably heard the numbers. Referral programs drive employees that are more engaged and stay with your company longer. They have a significantly lower cost per hire – about $1,000 compared to the average $5,000. They’re 4x more likely to get hired and produce up to 25% more profit for companies than hires sourced from other methods.
Across the board, employee referrals are the best quality and lowest cost source of hire. So why do we accept that we’re running a less than average program? Why do we rely on shoddy programs and error filled processes?
In a world driven by technology and e-mail demand, how do you make the ask for a reference that doesn’t feel like another to-do list or something that’s not worthwhile for employees?
It’s time to give your referral program a tune-up. In this webinar, sponsored by Rolepoint, we’ll both teach and talk. Our speaker, Michelle Hinkle, Global Referral Program Lead at Oracle, will break down trends, best practices and motivations for referral programs. Then, we’ll shift to a live Q&A where you can ask your questions and get answers on how to make incremental improvements to your strategy.
- Trends across the market
- Essential practices for a world class program
- How to encourage colleagues to choose referrals first when hiring
- How to gain additional referrals during urgent hiring times without the promise of a referral bonus or increased bonus
- Maintaining a talent inventory (keeping talent warm during non-peak hiring times)
- And more!