7 Questions Which Can Be Used To Evaluate Your Current Referral Program

Re-Publish this Article

<h1>7 Questions Which Can Be Used To Evaluate Your Current Referral Program</h1><strong> Author: <a href='http://www.articleseen.com/profile_saviovadakkan.aspx'>saviovadakkan</a></strong><br /><p>A very important, yet often ignored aspect of a successful employee referral program is assessing the referral program for its effectiveness. Evaluating the referral program along specific criterion helps the organization to understand which aspects of the program are working well and which need to be looked into for better performance. It also helps to realign the referral program along organizational priorities so that the employee referral program is able to achieve the objectives it was originally designed for. But most importantly, periodic evaluation of the referral program helps the organization to keep evolving and modifying the referral program according to the needs of the times and prevents it from falling into obsolescence. However good a referral program might be, it will need to keep pace with newer technologies and newer employee expectations, else other organizations will steal the march leaving you far behind in the race for talent. Organizations have often struggled on ways to measure the effectiveness and success of an employee referral program. Given below are some key questions that can help them better understand their employee referral program #1 What is your Cost per hire? Ideally this should be your first question to the referral program This means asking yourself •Money spent on hiring through employee referral program? •Comparative cost per-hire from other resources? •Rate of return on investment? #2 What is the efficiency and ease of use of the program then becomes your next key parameter to assess the referral program This includes questions like •How easy is it for employees to refer? •How fast do they receive feedback and referral bonus? •What is the speed of the referral process from the point of getting a referral to the point of making an offer? #3 How effective is the referral reward program in getting employees to participate and refer is another critical aspect to measure Questions for measuring this include: •How many employees have received referral bonus to date? •Has the participation gone up or down significantly since changing the referral rewards? •How many participating employees have never received referral reward? #4 Social recruiting being a very important aspect of employee referral program, it is important to measure whether the organization has been making optimal use of social recruiting applications. This involves exploring areas such as: •Which social media platform is generating the most referrals? •Which social recruiting application is mostly being used by the industry for referring? •What are some of the newer social media platforms and technologies that are useful from recruiting perspective? #5 Newer trends and technologies are also important to constantly assess. This can include questions like : •Which new technologies will enhance effectiveness of current employee referral program? #6 Assessing Referral Hires also helps assess which hiring produces best results? Questions include •Percentage of hiring from referrals? •Rate of turnover of referred hires? •How does a referral hire’s on-the-job performance compare to hires from other recruiting sources? #7 Lastly, it is important to measure whether employee education and training on referral program is really needed. This involves introspecting on: How many employees participated in referral program training? Which employees scored the highest in referring candidates? What kind of training did they undergo? Which training program received the highest rating A close look at all the above factors will ensure that the referral program is both relevant & effective.</p><strong>About the Author:</strong><br />Savio Vadakkan is a Marketing Professional for ZALP, a unique employee referral software. ZALP guides organizations about <a rel="nofollow" href="http://www.zalp.com/theemployeereferralblog/blog/how-to-create-a-successful-employee-referral-program">how to create a successful employee referral program</a> by means of <a rel="nofollow" href="http://www.zalp.com/social-media-recruiting">social media integrated recruiting techniques</a>.<p> Article Source: <a href='http://www.articleseen.com/Article_7-Questions-Which-Can-Be-Used-To-Evaluate-Your-Current-Referral-Program_305236.aspx'> http://www.articleseen.com/Article_7 Questions Which Can Be Used To Evaluate Your Current Referral Program_305236.aspx</a></p>

Article Source : http://www.articleseen.com/Article_7 Questions Which Can Be Used To Evaluate Your Current Referral Program_305236.aspx

Keywords : employee referrals solution, employee referral program, social media recruiting, employee referral,

Category : Computers : Software