Effective Employee Referrals? Really?!

They say the way to get places these days is by knowing people. They also say that conversation is better by the water cooler than through emails. This could very well prove to be true, especially in the business world. So who exactly are they and how do they know so much?
Employee referrals are possibly more effective than we are led to believe. CareerXroads now brings forth evidence that hires from employee referrals are under-counted. Over the years we have all accepted that the average number of hires from employee referrals was somewhere in the ballpark of SHRM's 24% (for non-exempt positions) to about a third.

“Referrals permeate the recruiting process more than we think,” says recruiting consultant Gerry Crispin, a CareerXroads, principal.

Big or small, two-thirds of the respondents offer a bonus for every referral hire. Most common (44%) is $500 for a non-exempt hire. One-in-five will pay $1,000 and a few more (28%) will pay that for difficult to fill non-exempt positions.

Interesting concept that's widely happening at many companies. Hmmm, do you know anyone that you would like to refer to your current company? Their just might be a bonus in it for you.


via: http://www.ere.net/2012/01/31/employee-referrals-may-be-even-more-effective-than-we-think/