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5 Economical Ways To Reward Your Staff For Successful Referrals
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Posted On :
Jan-28-2015
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Article Word Count :
503
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Many organizations make the mistake of assuming that money is the only way to reward employees for successful referrals. But it has been conclusively and repeatedly proven that not everyone is motivated by monetary rewards.
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Many organizations make the mistake of assuming that money is the only way to reward employees for successful referrals. But it has been conclusively and repeatedly proven that not everyone is motivated by monetary rewards. Even among employees who are motivated by monetary rewards, cash bonuses fail to generate the same motivation over a period of time. Also, in organizations with increased hiring needs, cash bonuses become unsustainable over a period of time. The biggest challenge in running a successful employee referral program is to have a rewards scheme that is able to generate referrals while keeping costs down. Reward schemes have in fact become the hot bed of innovation as recruiters put on their creative hats to come up with different rewards that able to generate excitement without costing a bomb.
Rewarding your staff for successful referrals that don’t require much money needs an ability to think more in terms of recognition. Below are 5 ways to reward employees for referrals that do not require much money investment.
Gift them an experience that is generally coveted or of value to them:
• Tickets to a sporting event, theatre or a play can be a great way to reward employees for successful referrals that do not cost a great deal but help to create great experiences that employees would love to share with colleagues and friends in office and on social media. They help to not only motivate the employee but also popularize the program among the peer group.
• Gifting Exclusive rights to a coveted thing like a favored parking spot or opportunity to participate in company sponsored events and conferences are also fabulous rewarding ideas that don’t cost much but go a long way in generating excitement and motivation for the employee referral program.
• Gamification has emerged as one of the best ways to recognize and reward employees through the use of game mechanics in the referral program. By creating leaderboards and getting employees to compete against one another to earn points, gamification allows employees to redeem points against a gift of their choice based on contribution to the referral program.
• Gifting employees an opportunity to interact on a one-on-one basis with top leadership is another great referral reward idea that acts as a great motivator while costing very little. An opportunity to have Dinner with the CEO / MD for the employee with the successful referral is sure to fire up your referral program like nothing else.
• Lastly, associating the referral program with a social cause helps to both motivate employees as well as generate goodwill for the company. Giving employees with successful referrals the opportunity to choose the organizations charity cause for the year is a great way to motivate them to contribute to the referral program to serve a bigger and more meaningful purpose that might be close to their heart.
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Article Source :
http://www.articleseen.com/Article_5 Economical Ways To Reward Your Staff For Successful Referrals_311330.aspx
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Author Resource :
Savio Vadakkan is a Marketing Professional for ZALP, a unique employee referral software. ZALP guides organizations about how to create a successful employee referral program by means of social media integrated recruiting techniques.
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Keywords :
employee referrals solution, employee referral program, social media recruiting, employee referral,
Category :
Computers
:
Software
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