Policy for Employee referral scheme
* Under an employee referral scheme, existing staff are offered a cash incentive to recommend friends or former colleagues for vacancies within the company - the bonus payments are only made if the recommended candidate is successful in his or her application.
* The payments are also typically dependent on a number of other conditions being met. There is usually a probation period which new recruits must complete satisfactorily (e.g. 3 months) before the employees who recommended them are paid a bonus.
* There may also be eligibility criteria governing who can make a referral (HR department employees are usually excluded), as well as restrictions on the types of vacancies covered.
* It is advisable to advertise within company which positions are under referral scheme and what will be referral bonus
* Here are some typical bonus ideas:
- Cash Reward (more money depending on level / type of position)
- Non Cash rewards (Holiday in Goa, Camera, Mobile Ph)
- Reward more for referring more
Regards