You can settle for an attractive voucher , to keep your costs low. Please promote the event very well. Each time a candidate referred by an employee gets selected , promote the news on your internal notice board or your Intranet.
Wish you all the best !
27th July 2013 From India, Mumbai
referral scheme is purposly cost curtailment plan, so, try to convert the rewards as incentive scheme. Mostly recruiter dont go for referral due to its drawback. If there is no relative of employee in the company then the guy will work carefully.
27th July 2013 From India, Faridabad
I have given the referral policy of my company as under for your guidance:
EMPLOYEE REFERRAL POLICY - should we have this policy ?
EMPLOYEE REFERRAL PROGRAM
EcomStreet recognizes that employee referrals are a valuable recruitment source for filling job openings at all levels. EcomStreet firmly believes that our employees are our brand ambassadors and are extremely important in helping us build strong teams. It is the policy of the company to pay referral awards to eligible employees for recommending candidates who are hired to fill any regular full-time position in the Company.
The Employee referral program covers all active full time Employees and their friends and relatives who refer an applicant for a position to EcomStreet and the applicant is offered and accepts a full time position with EcomStreet. Part time employees and subcontractors are not eligible.
The referral Award will be paid in 2 installments. The 1st installment will be paid out when the referred employee has completed three consecutive months of employment and the 2nd Installment will be paid out once the referred employee has completed 6 months of consecutive employment. Both the referring and referred employee must be employed by EcomStreet at the time the payments are due. Referral payments will be executed on the first payroll of the month following the 3 month and 6 month anniversary dates.
IT – Software Services
Referral Award – Rs . 5,000 for 1 – 3 years of experience.
Referral Award – Rs . 10,000 for 3 – 5 years of experience.
Referral Award – Rs . 12,000 for 5+ years of experience.
WHO CAN REFER?
All those who are eligible to refer and when the applicant so referred is offered and accepts a fulltime position with EcomStreet are eligible to receive referral award as per the above scale except the following.
Human Resources Staff, Senior Management, Divisional Heads / Managers and applicable Hiring Managers are not eligible to receive referral Awardees. These individuals are encouraged to refer candidates, but will not be eligible for Awardees.
No referral Award will be paid if the applicant is a member of the immediate family of the referring employee. Immediate family includes, Husband, Wife, Mother, Father, Sister, Brother, Sister-in-Law, Brother-in-Law, Nephew and Niece.
Candidates must be external to EcomStreet, and may not have been employed as temporaries and/or contractors within 90 days before referral.
Referral Award is applicable for referring candidates with minimum one year of relevant industry experience. No referral Award for referring Trainees, Part time employees and Fresher.
HR will notify employees about the existing openings by either putting up copies of advertisements on notice-boards or via email.
To refer an external candidate for a position posted by HR, EcomStreet employees should submit the EcomStreet Employee Referral Form (Annexure-1) to the HR, along with the candidate’s resume and/or a completed employment application.
When a referred candidate is offered and accepts a position at EcomStreet, the HR Department will notify the concerned Supervisor, Director-Operations and the referring employee. The Award will be awarded after the referred employee’s ninetieth (90th) calendar day of employment, and payment will be initiated by the HR Department. The referee and referral must be employed at EcomStreet at the time of the payment.
If two employees refer a candidate who is subsequently selected, then the reward will be given to the employee who referred the candidate first. If the resume of a referred candidate is already there in the HR database and was received either as a direct application or through placement agencies, then the referral Award will not be given.
Please Note: The Award will be paid in a lump sum and is subject to Income tax as per the provisions of the Indian Income Tax Act, 1961.
EcomStreet will review the program periodically. This policy is subject to review as per Company requirement. The above Policy comes in to immediate effect by superseding all earlier policies in this subject.
HIRING OF RELATIVES
EcomStreet may hire relatives of employees, as they may possess skills, knowledge, and competencies that may prove to be an asset to the Company. Under no circumstances can an individual be employed in a position that reports into the line of supervision of a relative.
28th July 2013 From India, New Delhi