Tips For Employee Referral Programs How to get your employees involved in finding additional help

With unemployment rates hitting rock bottom, you may be scrounging to find good, qualified employees. One idea: Offer cash bonuses as finders' fees. Rewarding your staff with bonuses for referring prospective employees offers a range of benefits, including potentially higher-caliber candidates, lower search costs and improved employee morale. If you're considering implementing a referral bonus program, try these tips:

  • Keep the program simple.
  • Avoid limiting referrals to certain employee groups or job categories.
  • Publicize the program among your employees on an ongoing basis. This will maintain their interest and keep them thinking about prospective candidates.
  • When determining the amount of the bonus, consider the level of the position and the fees you might have paid to an employment agency or a headhunter.
  • Be sure your employees understand what information (resume, employment application, referral card and so on) must accompany each referral.
  • Follow up every referral with a written response that lets the employee know the referral was received and appreciated.

Editor's Pick

Related Topics

Business News

Bank Accidentally Deposits $86 Million Into Woman's Account, Freezes Her Assets

The incident occurred at the Malaysian bank, Maybank.

Business News

Google Accidentally Sent This Man a $250,000 Payment

Security engineer Sam Curry was in for quite the treat when he checked his bank account around a few weeks ago.

Living

Get 24 Roses for $35 with This Holiday Deal

Order these roses by December 7 for on-time holiday delivery.

Starting a Business

This Couple Started Renting Rooms in Their House As a Side Hustle. Now They Run 11 Airbnb Units Full Time.

In the new book, "Start Your Own Airbnb Business," Airbnb Superhosts share how they have grown lucrative rental businesses.

Side Hustle

This Millennial Dad Just Wanted to Help His Daughter Care for Her Bearded Dragon. Then His Cricket-Breeding Side Hustle Exploded — Earning $27,000 in One Month.

It wasn't Jeff Neal's first attempt at a side gig, and before long, the "prototypical millennial side-hustler" realized his product had major potential.