Employee referral is a great way for organizations to induct fresh and budding talent in their employee base. It is by no means a novel concept as it has been around since quite some time and is a common practice of firms globally. If you are not familiar with the term “Employee referral” let me explain what it exactly means.
Employee referral is a method used by companies to recruit promising candidates by utilizing the professional referral networks. Having an employee referral makes your chances of being hired much brighter as compared to someone who has no reference.
Are you looking for a job but the offers being dished out to you are not exactly your cup of tea?
Have you been applying online but you never get a response?
The solution to these problems is employee referrals. Getting your dream job or finding a job that suits you best can be a difficult task if you lack a good PR and quality professionals who would refer your organization to good professionals. One way of getting started is to become part of any referral networking group or referral program websites.
If you want to be placed in an organization that you always dreamed of working now is the time that you take referrals seriously. Below I have discussed 7 advantages of employee referrals that you need to know.
1. Referred candidates have brighter chances of being hired
If you have the reference of someone working in a renowned organization you have higher chances of landing the job as compared to people who are applying sans any referral. The bottom line is that you need to work on building a referral network of people who are working in organizations of your interest. You need to keep in touch with them on a regular basis to know about jobs before they are posted publicly. Public relations is the name of the game, your name has to be at the top of your contact’s mind in order for them to refer you. Utilize social platforms as is the norm these days to make your presence felt in the job circle. Without wasting more time register yourself on best referral sites, referral portals and referral marketing companies.
2. Employee referrals do happen
Yes it is true, employees do make referrals and they are heard. If you are skeptical about the actuality of being referred by someone, just push it at the back of your mind and start over. It is human nature to be helpful and if you have a good reference working at a company of your interest then do not waste extra time in getting in touch with them. Text away!
3. Start at the top
If you know someone who is perched high on the corporate ladder then you have got it made. That person’s position in the organization makes your chance of getting hired more likely than those candidates who have the reference of a mid level employee. But that doesn’t mean you won’t reach out to your contact if he is not on a director level position in the company. It would be an added plus if you know top level executives but do not refrain from getting in touch with your contact no matter his spot on the hierarchy because employee referral is given attention.
4. Referral has its perks
The Majority of employers follow a business referral program while the remaining does it in their own way. Companies are aware of the fact that referrals result in great employees and is also not very heavy on the budget. So do keep in mind that when you ask an employee to refer you, he is not the only one doing a favor, you are also helping him earn an incentive.
5. Referrals top the list of the most important job-search resource:
When speaking of the most important job search resource, referrals take the cake. Although it may be a bit hard to believe but this resource of recruiting talent tops all other resources. Your profile on LinkedIn can stay unnoticed for months but if you have the innuendo of someone working in your dream company chances are that you might just get that job. Career sites are flooded with profiles of professionals from almost every field but that one word of referral can do wonders for you. So when someone says that referrals are the most important job search resource you better believe them.
6. Referred employees love their jobs
Are you looking for a job that you love doing and you are not the sort to just work for the paycheck? It’s time to shake that contact box of yours and find out who is working at one of your desired organizations. Everyone wants to work in a place where they feel comfortable and to do what they love to do rather than just loathe over it daily. You want a job that you will look forward to everyday and one where you are content. Get in touch with colleagues and contacts to help you find that job for you.
7. Size matters
If your contact is working in a small organization don’t let the size of the employee strength deter your decision to ask for a referral. It can be cumbersome to find someone you know in a small company but it is a known fact that hiring happens through referrals. Thank your lucky stars if your contact works for a company that has an employee base of over 1000, your chances of getting hired will be much higher. But if you have to take your pick from smaller companies, hang in there! You still have better chances of being hired than those candidates who apply through formal procedures.
Final Thoughts
Referrals are one of the emerging and underrated recruitment strategies, Companies are aggressively deploying referral strategies to reduce the turnaround time. Not only they are giving incentives to motivate their employees but to feed their growth their HR departments are also devising new programs to make the full use.
If you are starting out on this you should not solely rely on referrals but you should keep in mind that it's still the most cost effective and reliable hiring strategy.
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