10 Key Facts About Employee Referrals

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A countdown of the hard data on Employee Referral Programs.

Transcript of 10 Key Facts About Employee Referrals

  • 1.EMPLOYEE Countdown the hard data on Employee Referrals 10 KEYFACTS ABOUT REFERRALS

2. HireVolume Employee Referrals are the #1 source in hiring volume 10 3. HireQuality9 Employee Referrals are the #1 source in hiring quality 4. Speed8 Employee Referrals are the fastest recruiting method Application-to-hire time in days 29 days 39 days 45 days REFERRALS JOB BOARDS CAREER SITES#1 5. Retentionafter1year7 Referrals 46% Career Sites 33% Job Boards 22% 6. Retentionafter2years6 Referrals 45% Job Boards 20% 7. Percentageofapplicants Employee Referrals are only 6.9% of applicants 5 8. PercentageofHires 46%of all hires at top performing firms are employee referrals 4 9. Applicant-to-hireRatio Referrals are #1 Applicants are hired at a rate of 1 out of 3 for top-performing firms 3 10. Costper hire Only $635 more 2 Job Boards Referrals $1,671 $2,306 11. Diversity Impact Employee Referrals are the most productive source for diversity hires 1 #1