Your business needs an employee referral system that rewards and encourages employee referrals properly. The feature story for Inc. Magazine Database May 2013 issue, discusses how social media is replacing job boards as the primary outlet for sourcing candidates. . According to the Aberdeen Group, 50% of companies with high retention rates decreased their investment in job boards last year. The most popular site use by recruiters is LinkedIn. The most popular tool used by job seekers to find work is Facebook.Interestingly, JobVite stated that employee retention rates skyrocket when they’re referred by other employees. After three years, 47% of referrals were still around, compared to only 14% of job board applicants, (not sure what happened here).
Interestingly, JobVite stated that employee retention rates skyrocket when they’re referred by other employees. After three years, 47% of referrals were still around, compared to only 14% of job board applicants were. As mentioned on this previously, have an employee referral system that properly rewards and encourages employee referrals.
