What are employee referral programs?

What are employee referral programs?

Employee referral programs are initiatives where current employees recommend candidates for job openings, often incentivized with rewards.

How do these programs benefit companies?

They can lead to faster hiring, better cultural fit, and reduced recruitment costs, as referred candidates often perform better.

What incentives are typically offered to employees for referrals?

Incentives can include cash bonuses, gift cards, extra vacation days, or recognition within the company.

Are there any downsides to employee referral programs?

Yes, potential downsides include a lack of diversity in hiring and the risk of favoritism, which can affect team dynamics.