How do you incentivise colleagues to introduce new talent to your organisation? What type and value of incentive do you offer? For mid rage and senior hires?
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Senior Enterprise Sales Executive in Software5 months ago
Most ERPs - all the incentive is tied to an outcome that is very much outside of the control of the referrer (hired and stays on for X period of time). What if you incentivised people to fill your talent pipeline and rewarded them with smaller, more frequent amounts as that talent moves through the pipeline (ex. $W for lead, $X for first interview, $Y for final interview, and $Z for hire). CHRO in Services (non-Government)5 months ago
We follow a traditional employee referral policy that is dependent on hire. We pay varying amounts based on role ($750 - $10,000) and in one of two increments (either 100% in 6 months employment or 50% at each of 6 and 12 months of employment). As a professional services firm, we do have a culture of individuals introducing talent to the organization so have not had to incentivize the introduction to us.
VP of HR in Healthcare and Biotech5 months ago
Great question! Many times when thinking of incentivizing colleagues to introduce new talent to the organzation, our minds go to a version of an employee referral program. Those programs can be very effective and often produce great pools of candidates. Another way to think about it is to consider the company culture and the experience that employees are having. If employees are having great experiences with the organization they are much more likely to introduce new talent. If not, then not only will they not introduce new talent, but they may leave as well possibly even discouraging others from exploring positions with the organization. The best recruitment strategy is retention.
So the next question is may be, "What does a great experience look like for employees"? In research that I have done with has included, but is not limited to, consulting internal data points, such as engagement surveys, exit surveys, conducting listening sessions, and conducting external industry scans, I have found that employees want to feel like the belong and matter. Creating opportunities to connect with employees and getting to know them as people and not just employees is critical. In addition, employees want the opportunity to grow and develop as part of a great experience.
If employees are having a great experience, they will certainly share that experience and that will begin to draw potential candidates to the company.
HR Strategic Partner, People + Culture Leader5 months ago
We have an employee referral program that includes cash bonuses to incentivize employees to refer new talent. The process is super straightforward (we use google forms for submission), and while the bonus amount varies depending on role/seniority, the typical range is between $1,000-$5,000 per successful hire.