Employee Referral Scheme Ideas: Can You Share a Sample to Help Us Out?

We are currently in the process of formulating an Employee referral scheme in our company. If anybody could help me with a sample scheme, it would be of great help and would definitely be appreciated.

Regards,
Naveen

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 the company which positions are under the referral scheme and what the referral bonus will be.

Here are some typical bonus ideas:

- Cash Reward (more money depending on the level/type of position)
- Non-Cash rewards (Holiday in Goa, Camera, Mobile Phone)
- Reward more for referring more

Regards

Hi there,

I just want to know if it is feasible to provide monetary as well as non-monetary rewards. Also, I am in the process of preparing an employee referral scheme to recruit around 300 part-time telemarketing executives who are paid around $7 - $10 per hour. How much monetary benefits can I provide my employees for their referrals? Please do suggest something.

Tracy