Is It Worth Branding EMployee Referral Programme

Hi
Would like to have your views on branding and promoting an Employee Referral Programme in the company Would that really help a company to get people?
Thanks in Advance .

No Second thought employee referral program is very useful and economical tool for hiring a right people. It also help in retaining the employees and finding passive candidates. According to me it is must for org....

Hi Krishnau,
Employee referral lately has become a rage in the companies because of all the benefits it has at low cost...
#you can get referrals from employees who already know the company in and out and obviously think positive about and thats the reason they refer new people.
# Secondly, the cost involved is not that high, HR should drive it in a manner that it yields maximum results...
# Most of the time I have seen people who refer a new employee motivates and mentor them too, so in the long run it works as retention tool as well..
# Employees who are referring gets some gifts, vouchers or monetary reward so again its a motivating and retention tool for them
Hence, proper branding and positioning can make this tool a very successful in the organisation.

I feel this is one the best way to brand your organization and attract key talent. But referral will fall through, if your employee satisfaction is scoring low. In simple terms you will not get any referrals.

Employee refrral is definitely a best means to brand your organization because:
1. Highly economical means to get new employees
2. Easier means to get resumes, rather then geting a whole lot of many irrelevant resumes from other sources
3. the referring employee is also at monetary benefit
4. Motivates current employees to continue with the organization
5. Most of the time the current employee himself acts as a buddy/ mentor to the new joinee whom he had referred. Hence, the HR need not give more emphasis on appointing a buddy
6. The current employee of the organization himself, will speak good about the organization ( provided he himself is satisfied)..so indirectly/ directly branding is done about the organization.

Employee referral program is definitely worth to invest in due to its benefits when comparing with other sources of hires:

- Cost efficiency

- High qualified candidates

- Higher engagement

- Lower turnover

- Longer tenure

- Better cultural fit

- Less recruitment time and effort

However, to turn employee referral practices into a competitive advantage is not easy at all. If you are wondering about its real effectiveness, remember that successful people tend to associate with other successful people.

Here are some best practices I recommend to guarantee a successful employee referral program:

1. Build a strong employer brand

2. Be transparent in recruitment process and for all participants

3. Set attractive reward policy for referrers

4. Integrate employee referral program with social media

For those interested in further detail: 4 Best Practices to Generate a Successful Employee Referrals