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Innovations	
  in	
  Employee	
  Referral	
  
Programs	
  
Kara	
  Yarnot,	
  Founder	
  &	
  President	
  
recruitDC	
  
Imagine………	
  
2	
  
MERITAGE TALENT SOLUTIONS’
EMPLOYEE REFERRAL
TRENDS REPORT
2014
3	
  
BENCHMARKING
PROGRAM STRUCTURE
Who Has Formal Employee Referral
Programs?
of companies report
having a formal
employee referral
program
71%
4	
  
86%
plan to launch a
program in the next 18
months.
36%
Referrals Continue to be a Primary Source of
Hire for Employers with Referral Programs
5	
  
% of External Hires that are Referrals
27%
0 - 25%
26 – 50%
51 – 75%
76 – 100%
Don’t know
47% 	
  
38% 	
  
4% 	
  
4% 	
  
7% 	
  
of companies with referral programs
report that more than half of their
external hires come from their
referral program.
8% 	
  
of companies report meeting or
exceeding their referral program
hiring goals.
25% 	
  
of companies don’t actually have
hiring goals for their program25% 	
  
6	
  
Increasing the Quality of the Candidate pool is
the top goal for companies.
GOALS OF REFERRAL PROGRAMS
10%
0%
30%
20%
50%
40%
70%
60%
90%
80%
100%
Increase Quality Increase Quantity Decrease Time
to Hire
Increase Retention Increase
Diversity
Other Don’t Know
Currently have program
Planning to launch program
93%
67% 61%
36%
58%
27% 27%
49%
32%
18% 9%
2% 2%
Referral Program Structure
REFERRALPROGRAM MANAGEMENT
Centralized
program
management is the
most common
management
structure.
76%
64%
Centralized
70%
60%
50%
40%
30%
20%
10%
0%
80%
9% 0%
16%
9%
27%
Decentralized Hybrid Not yet
decided
Currently have program
Planning to launch program
7	
  
8	
  
Tools Used to Manage Program
Currently have
program
Planning to launch
program
64%
55%
50%
18%
14%
27%
3%
0% 18%
Spreadsheets ATS 3rd Party Other Not
Decided
9	
  
Referral Program Incentives – Cash is King
of companies offer
or plan to offer cash
incentives for
referral hires.
59% 	
  
Cash awards to
employees for referral
hires are the most
common incentives
employed.
Average Cash Incentive Paid for Referral Hires
Less than $1000
26%
73%
69%
2% 0%
18%
4%9%
$
$
Currently have program
Planning to launch program
Between $1000 and
$4999
$5000 or greater Don’t know
18%
10	
  
Thinking Beyond Cash
of companies offer or plan
to offer non-cash
incentives for referral
hires.
25%
54%
Prize
Drawings
35% Others
27%
Company
Logo Items
15%
Vacation
Days
11	
  
Referral Program Enhancements
Social Referrals
Mobile
Accessibility
Improved
Marketing
Non-Employees
Improved
metrics
Complete Overhaul
12	
  
PRIMARY REFERRAL PROGRAM
TRENDS IDENTIFIED
13	
  
Social Referrals - Driven by the
implementation of 3rd party
Referral Technology
TREND # 1
Types of Social Referral Tools
Broadcast	
  
Broadcast	
  &	
  Discovery	
  
14	
  
15	
  
 All of the 3rd party referral
tools are based on social
referral functionality.
Companies
planning to launch
referral programs
are more likely to
use 3rd Party
Referral Tools.
Currently
have
program
14%
Planning to
launch
program
27%
27%
3rd Party Referral Tools
How Satisfied Are You With Your Current
Referral Tools?
SATISFACTION WITH CURRENT REFERRAL TOOLS
16	
  
of respondents who are Very
Satisfied use a 3rd party
solution.
Very
Satisfied
Partially
Satisfied
Neither Satisfied or Dissatisfied
Partially Dissatisfied
Very
Dissatisfied
of respondents who are Partially
Satisfied use ATS Solution,
63%
83%
17	
  
Moving Beyond the “Employee”
Referral Program
TREND # 2
18	
  
Individuals Beyond Employees Included
in Program
Customer
48%
100%
Social Media
Connections
48%
60%
Other
26%
20%
Alumni
70%
80%
Planning
to launch program
Currently have
program
Vendor
35%
40%
of respondents with programs already
include non-employees in their programs.  
22
%
An additional 17%
plan to expand their
programs to include
non-employees.
17%
of respondents planning to launch
programs with include non-employees in
their programs.
45
%
Keys	
  to	
  an	
  Effective	
  Program	
  
•  Make	
  it	
  easy	
  for	
  employees	
  to	
  refer	
  
•  Educate	
  your	
  employees	
  one	
  what	
  makes	
  a	
  good	
  hire	
  
•  Get	
  execuOves	
  involved	
  
•  Thank	
  everyone	
  who	
  parOcipates	
  
•  Avoid	
  the	
  “black	
  hole”	
  	
  -­‐	
  provide	
  updates	
  
•  Recognize	
  individuals	
  with	
  referral	
  hires	
  
•  Pay	
  bonuses	
  when	
  the	
  new	
  hire	
  starts	
  
•  Track	
  and	
  report	
  referral	
  metrics	
  
19	
  
2015	
  REFERRAL	
  
SURVEY	
  IS	
  NOW	
  OPEN	
  
Hand	
  me	
  your	
  business	
  card	
  and	
  I’ll	
  
send	
  you	
  the	
  link	
  
20	
  
THANK	
  YOU	
  
Kara	
  Yarnot	
  
President,	
  Meritage	
  Talent	
  SoluOons	
  
@klyarnot	
  
LinkedIn.com/in/karayarnot	
  
21	
  

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Innovations in Employee Referral Programs_recruitDC May 2015

  • 1. Innovations  in  Employee  Referral   Programs   Kara  Yarnot,  Founder  &  President   recruitDC  
  • 2. Imagine………   2   MERITAGE TALENT SOLUTIONS’ EMPLOYEE REFERRAL TRENDS REPORT 2014
  • 4. Who Has Formal Employee Referral Programs? of companies report having a formal employee referral program 71% 4   86% plan to launch a program in the next 18 months. 36%
  • 5. Referrals Continue to be a Primary Source of Hire for Employers with Referral Programs 5   % of External Hires that are Referrals 27% 0 - 25% 26 – 50% 51 – 75% 76 – 100% Don’t know 47%   38%   4%   4%   7%   of companies with referral programs report that more than half of their external hires come from their referral program. 8%   of companies report meeting or exceeding their referral program hiring goals. 25%   of companies don’t actually have hiring goals for their program25%  
  • 6. 6   Increasing the Quality of the Candidate pool is the top goal for companies. GOALS OF REFERRAL PROGRAMS 10% 0% 30% 20% 50% 40% 70% 60% 90% 80% 100% Increase Quality Increase Quantity Decrease Time to Hire Increase Retention Increase Diversity Other Don’t Know Currently have program Planning to launch program 93% 67% 61% 36% 58% 27% 27% 49% 32% 18% 9% 2% 2%
  • 7. Referral Program Structure REFERRALPROGRAM MANAGEMENT Centralized program management is the most common management structure. 76% 64% Centralized 70% 60% 50% 40% 30% 20% 10% 0% 80% 9% 0% 16% 9% 27% Decentralized Hybrid Not yet decided Currently have program Planning to launch program 7  
  • 8. 8   Tools Used to Manage Program Currently have program Planning to launch program 64% 55% 50% 18% 14% 27% 3% 0% 18% Spreadsheets ATS 3rd Party Other Not Decided
  • 9. 9   Referral Program Incentives – Cash is King of companies offer or plan to offer cash incentives for referral hires. 59%   Cash awards to employees for referral hires are the most common incentives employed. Average Cash Incentive Paid for Referral Hires Less than $1000 26% 73% 69% 2% 0% 18% 4%9% $ $ Currently have program Planning to launch program Between $1000 and $4999 $5000 or greater Don’t know 18%
  • 10. 10   Thinking Beyond Cash of companies offer or plan to offer non-cash incentives for referral hires. 25% 54% Prize Drawings 35% Others 27% Company Logo Items 15% Vacation Days
  • 11. 11   Referral Program Enhancements Social Referrals Mobile Accessibility Improved Marketing Non-Employees Improved metrics Complete Overhaul
  • 12. 12   PRIMARY REFERRAL PROGRAM TRENDS IDENTIFIED
  • 13. 13   Social Referrals - Driven by the implementation of 3rd party Referral Technology TREND # 1
  • 14. Types of Social Referral Tools Broadcast   Broadcast  &  Discovery   14  
  • 15. 15    All of the 3rd party referral tools are based on social referral functionality. Companies planning to launch referral programs are more likely to use 3rd Party Referral Tools. Currently have program 14% Planning to launch program 27% 27% 3rd Party Referral Tools
  • 16. How Satisfied Are You With Your Current Referral Tools? SATISFACTION WITH CURRENT REFERRAL TOOLS 16   of respondents who are Very Satisfied use a 3rd party solution. Very Satisfied Partially Satisfied Neither Satisfied or Dissatisfied Partially Dissatisfied Very Dissatisfied of respondents who are Partially Satisfied use ATS Solution, 63% 83%
  • 17. 17   Moving Beyond the “Employee” Referral Program TREND # 2
  • 18. 18   Individuals Beyond Employees Included in Program Customer 48% 100% Social Media Connections 48% 60% Other 26% 20% Alumni 70% 80% Planning to launch program Currently have program Vendor 35% 40% of respondents with programs already include non-employees in their programs.   22 % An additional 17% plan to expand their programs to include non-employees. 17% of respondents planning to launch programs with include non-employees in their programs. 45 %
  • 19. Keys  to  an  Effective  Program   •  Make  it  easy  for  employees  to  refer   •  Educate  your  employees  one  what  makes  a  good  hire   •  Get  execuOves  involved   •  Thank  everyone  who  parOcipates   •  Avoid  the  “black  hole”    -­‐  provide  updates   •  Recognize  individuals  with  referral  hires   •  Pay  bonuses  when  the  new  hire  starts   •  Track  and  report  referral  metrics   19  
  • 20. 2015  REFERRAL   SURVEY  IS  NOW  OPEN   Hand  me  your  business  card  and  I’ll   send  you  the  link   20  
  • 21. THANK  YOU   Kara  Yarnot   President,  Meritage  Talent  SoluOons   @klyarnot   LinkedIn.com/in/karayarnot   21