The power of employee referrals

Credit to Author: Murali Murthy| Date: Wed, 14 Feb 2024 00:31:11 +0000

Employee referrals can be valuable but still remain one of the most undervalued assets in the job search process. Simply put, an employee referral is an endorsement of you and your talents. They can boost your odds of getting an interview call and eventually getting hired. Ultimately, an employee referral is a testament to your network, work ethic, and ability to work with like-minded individuals.

Employee referrals are a win-win for both you and the recruiter. For the hiring manager, they save significant sourcing time and money. This is why a lot of businesses incentivize their staff to refer other talented candidates by offering perks, gifts and even cash rewards. You cannot afford to overlook them as they are an essential component of internal recruitment. Referrals can come in two ways, formal or informal. A formal referral is one that comes through someone you know personally. An informal referral as the name suggests happens when a connection simply passes your name to the hiring manager or recruiter.

Employers put more focus on a referral program because they generally get better hires from that program. All of those positive factors can result in a faster hire and save them money in the long run.

What can a referral do for you?

Most jobs attract hundreds of job applications. Naturally, recruiters have a hard time scanning and shortlisting candidates. If you’re referred, you’re generally going at the top of the list. It may not guarantee a job, but it definitely increases the chance of getting an interview. An employee referral communicates that you can do the job and, also be a likable, cultural fit.

How does the organization benefit?

Hiring managers always approve employee referrals as they offer immediate access to quality talent, often sourced through the connection of their staff. It also helps them save valuable time which they would otherwise be spending on sourcing, screening, negotiation and more.

At a time when many businesses struggle to fill their positions with the right candidates, it makes a lot of sense to go through existing employees and people who know your company culture. Higher retention and productivity, lower cost and time to hire, and eventually a higher quality candidate pool are some of the befits of employee referrals.

Why should you always be networking?

The referral system shows why it is important for you to be networking professionally throughout your careers — whether you’re looking for work or not. In many organizations, staff reach out to their networks to find people for open positions at their companies. If you’re regularly networking, the person could connect with you. In addition, connecting with recruiters can ensure that they keep you in mind.

How else can you get a referral?

Start by identifying and shortlisting where you want to work. As a next step, find out who you know at the organization. When you are proactive, you can also use LinkedIn and other platforms to help you connect some of the dots. You can also focus on other possible connections in places like alumni networks and professional organizations.

How can referrals impact an interview?

Referrals have a positive impact on interviews. Any hiring manager will tell you from experience, that employee referrals are viewed in a positive light for many reasons. Of course, it saves useful time for the recruiter. And also offers credible social proof. Anyone who refers you definitely feels that you are qualified for a job.

The post The power of employee referrals first appeared on Canadian Immigrant.
http://canadianimmigrant.ca/feed