Whether your company is seeking to implement a program, or looking at boosting existing rewards to sweeten the incentive, keep this in mind: if there are underlying problems within the company that need to be resolved, an employee referral program won’t fix them. Instead, a closer look at what’s really happening is in order.
Start by assessing the company culture. It’s vital to understand and promote what employees like about the company – from benefits and perks to collaboration and flexibility – while also addressing the areas that are perceived as negative. When those steps are taken, and a positive, supportive culture is developed, employees become engaged and happy with their workplace. Even better, they become brand ambassadors, willing to encourage others to join them, either with or without an incentive.
Throughout this process, it’s critical for management to be on the same page as employees. Keep in mind, if the staff doesn’t feel good about the company, no amount of money will inspire them to refer others to work there – and worse, they are also in danger of leaving.
Once culture has been addressed, it’s essential to communicate about the employee referral program on a consistent basis. Too often, employers discuss it at the time a new employee is hired, but don’t continue to remind them. Keep it top of mind so employees can take advantage of what should be a win-win recruiting tool.
Lastly, put some thought into the structure of your employee referral program. Is money the best motivator? Are there other creative – and motivating – rewards, such as time off, a trip, or a year’s worth of gas, groceries and/or sports, concert or theater tickets? The right incentives could also offer an added benefit of helping to build a more diverse and inclusive culture.
It seems counterintuitive, but a successful employee referral program is typically not about the money. It’s about creating a positive employment culture – one that empowers satisfied employees to promote your company to others as a great place to work. In the end, that’s something money just can’t buy.
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