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What are the calculations and criteria for giving referral bonus to employees?
Dear Friends, Can you please help me out with queries in regards to referral bonus: 1) What is the eligibility for the bonus. 2) Criteria for giving the bonus. 3) Calculations for the referral bonus.
Hi Karishma,
Referral programs are good tool of hiring and retaining employees. Every org have there own policy depending upon there needs and nature of industry.
1) What is the eligibility for the bonus.
All employees are eligible for referral bonus if they refer candidate and his candidate got selected. Some org don't give referral bonus to employees who are on notice period.
HR, Immediate and skip level manager of vacant position are not eligible for referral bonus.
2) Criteria for giving the bonus.
Refereed candidate must be selected for the job and he must complete specific duration in org. (mostly 3 months)
At time of payment of referral bonus referring employee and candidate should not be resigned or on notice period.
3) Calculations for the referral bonus.
It depends upon nature of vacancy, organization and industry.
Mostly amount of referral bonus is fixed and well communicated to all employees.
Amount must be motivating.

Thank You White Eagle, this is really a good piece of information for me. Talking about the calculations of referral bonus can you please suggest me something, as we are landing into this policy of referral bonus for first time.
Also, apart from completing 3 months with the organization are their any other components also deciding the referral bonus.
With Regards,
Karishma Thakur

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