How Can I Make Our Referral Incentives More Enticing to Fill 50 Medical Rep Positions Fast?

Hi! I am working with one of the pharma companies. We have a huge number of openings for the Medical Reps position. We have an employee referral scheme, wherein we reward employees if their referral is selected, e.g., Rs. 5000 for every selected Medical rep. But I need to close around 50 positions in the next 45 days. I am definitely circulating these openings through our referral scheme. However, I need your suggestions on how I can make the reward factor more attractive, which will help me in getting the maximum quality and quick responses.

Hoping for quick responses from all of you.

Thanks,
Sandy

Hi Sandy,

You can raise the referral benefit to a much higher amount. That would not be a loss to the company because if we are recruiting a candidate through HR Consultancies, we need to pay at least 8.33% of their annual CTC. That would be a much higher amount than what we currently pay to our staff for referrals.

Otherwise, you can design it in another way. For example, you can offer a referral benefit of 5000 rupees as soon as the selected person joins the company and another 5000 after the person's completion of 6 months in the company. This approach can help ensure the consistency of the staff. In any case, the person who referred the candidate would likely encourage the newly joined individual to stay with the company for a significant period.

Alternatively, you can introduce different benefits. Since it is a marketing job, you may consider providing monetary benefits such as giving a share of the newly recruited person's earnings to the referrer for a period of six months. However, this should not demotivate the new employee.

There is a good chance that individuals recruited through referrals will stay in the company for a long time, especially if the referrer remains with the company.

All the best, Sandy. Devise your plans.

Regards,

Afsal Abdulkhani
HR Manager
+91-9995559004