Recruitment is vital: every second after the creation of a new job ad can be useful to find the best candidate: time is money, and your business loses productivity when no one covers a vacancy
After selecting your target, there are plenty of job posting websites and recruitment channels you can choose from: word of mouth, referrals, LinkedIn, head hunting, job boards…everything counts! In this various context, by referrals we mean having workers who voluntarily recommend a candidate from their own networks that means that indirectly they are sponsoring your company to people within their circle of trust and friendship.
As in the graphic from Top Sources, we can see that referrals are an effective internal channel (great % of hiring), while job search engine strategy is better for employer branding and marketing (big % of interviews).
Again, in the hiring process the internal source is more used than the external one.
The power of word of mouth is now clear: think about how effective is the experience of a friend rather than a simple advertisement. Concrete examples surely attract more, because they succeed in communicating the company as an entity true and transparent.
In Neomobile the People Team created a referral program who rewards colleagues with compensation if their referral candidate is hired and also if he succeeds the probation period. Definitely an incentive for being proactive! Anyway, rewards are helpful but not essential: they certainly help to get the attention of employees, but it’s not common that employees make referrals because of the earning.
In general, which are the main benefits of such a strategy? We highlight the most important ones below:
- It reduces recruitment costs by focusing on colleagues who are so satisfied with the company they work in that they attract friends or former colleagues;
- It proves and foster employee engagement and company awareness;
- It attracts high value professionals, with a higher chance of being trustworthy;
- It expands the recruitment pool;
- It turns employees into ambassadors of the company
Finally, according to our experts the best job search strategy is to appropriately diversify the recruiting methods, but the facts are written in stone: referrals are one of the best ways to hire. So, what are you waiting for? Plan your program!