Referral Continue to Dominate
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Employee referral schemes encourage existing employees to recruit candidates from their social networks. Intel Corp. uses both monetary and non-monetary incentives in their employee referral program, such as cash rewards and raffle prizes. Employee referrals provide benefits to employers like reduced costs, improved candidate quality, and retention of existing employees. They also provide faster hiring with a higher rate of job offers being accepted from referred candidates.
Referral Continue to Dominate
- 2. Employee referral scheme encourages a company's existing employees to select and recruit the suitable candidates from their social networks. REFERRALSCONTINUETO DOMINATE..
- 3. Intel Corp. -ERP Intel Corp. uses a combination of monetary and non-monetary incentives In addition to a cash reward for referrals, the company also offers a raffle for those employees who've made referrals. Ex : a $1,000 travel voucher or a home entertainment system. 50 percent of the company's new hires
- 4. WHY-ERP? Reduced recruitment work Improved Candidate Quality Retention Offer incentives and reward to employees Reduction in cost of Recruitment Benefits
- 6. Conclusion Employee referrals provide a win-win-win situation to all the parties involved Employer , Employee and the Candidate More and more firms are resorting to employee referrals and are reaping the benefits