Useful Tips on Creating Employee Referral Programs
Employee Referral programs can do wonders for a business as long as the company has a great employer brand.
Dropbox was founded in 2008. It now boasts over 300 million users. This growth is backed up by a $10 billion valuation because it uses a clever referral and social sharing reward marketing strategy.
Instead of advertising their product, Dropbox rewards users with extra storage when they refer friends.
Referrals are a huge benefit to any business, just ask the luminary marketer, John Jantsch.
Here are a few tips for creating a successful referral program for your pipeline.
Allow More of the Right People to Make Referrals
Be creative with who can provide referral leads
Allow referrers – whether internal, non-employee or recruiters – to refer outside of their own areas of expertise.
Enlist clients, retired employees, and other stakeholders to refer leads.
Have different processes for Referred Candidates
Rather than have all candidates handled by the same system, put referred leads in the fast lane for processing and evaluation.
Make sure you let the referrer know you and what the status of their referral is – whether positive or negative.
Provide the referrer with feedback on what made a good or otherwise lead so learning and refinement can take place.
Vary Reward Structures
Dan Pink, author of Drive wrote: Humans respond to benefits as well as monetary again.
Relate how good referrals strengthen a company’s prospects, underpinning job security company performance.
Acknowledge and recognise a good referral via internal and external social sites, thank you notes, a special meal at a restaurant or via the company site.
Set goals for team referrals. Create targets for the volume of referrals from given teams.
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About the author:
Greg Weiss is the Founder of CareerSupport365. He has almost 30 years success in HR and in career coaching people.
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Greg Weiss
Greg Weiss
Greg Weiss is the founder and director of Career365 and Australia’s leading career coach. Greg has coached well over a thousand people from recent graduates to CEOs as they pivot, re-launch and accelerate their careers. He is the author of three practical books and the creator of three online courses: “Career Clarity. How to find career fulfillment”; “Career Networking. How to unlock the hidden job market”; and “Career Success. How to succeed in your new job”.
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