Most hiring managers seek out new employees primarily by posting job openings online. Using these resources is not a bad method, but it’s not the only strategy a company should use to find new people. Employee referral programs are an excellent way to gain reliable new staff members.
Data indicates that not only do employee referrals lead to more hires than online job boards and career sites; these new employees stay with their companies longer. According to Jobvite, less than 7% of the average business’s applicants apply through employee referrals, compared to 42.
9% applying through job boards and 32.1% applying through career sites. However, applicants recruited by means of employee referrals make up nearly 40% of all hires. Applicants hired through employee referrals are also much faster to get on board since there’s no need for companies to spend time or effort actively recruiting them.
The most effective way to find dedicated new team members who will stay with your company for the long term is to encourage employee referrals in addition to using online resources. This way, you’ll attract a wide pool of applicants and have plenty of good workers to choose from.