What is the purpose of employee referral program policy?
Employee referral programs have proven to be the best source of new hires. Your current employees know best who your ideal candidates or candidate personas are.
However, in order for an employee referral program to be successful and productive, it needs to be clear consistent, transparent and fair.
Having an employee referral program policy can help you guide employees and follow the rules.
Example of employee referral program policy template
The main purpose of this employee referral program policy is for our employees and all the HR professionals to use when they need detail and information about how [company name]'s referral programs work.
This Employee Referral Program Policy applies to all our employees who refer candidate to our company.
If you are looking for some ideas for employee referral bonuses, here is the list of 10 employee referral reward ideas.
Our company will give incentives and bonuses to employees who refer qualified candidates for [company name]'s job openings.
This is how our employee referral reward program works:
- [$x] to [$x] check for every candidate who gets interviewed
- [$x] to [$x] check for every new hire
- [$x] to [$x] check after 6 months of new hire
- [$x] for every qualified candidate
- [Days off] for every [name action]
- [Event Tickets]
- [Family trip]
What is an employee referral reward?
In order to encourage our employees to refer talented people, successful referrals will always be rewarded.
For example, if an employee refers a candidate who:
- Is qualified, reward will be: [$x]
- Gets an interview, reward will be: [$x]
- Gets hired, reward will be: [$x]
- Stays with [company name] for more than [x] months, reward will be: [$x]
Bonuses will vary depending on position and how hard to fill they are.
Employees who continually put effort and refer good candidates will be entitled for special bonuses.
Additional rules for rewards:
- Employees will receive awards within [period of time] of each stage
- Employees can refer as many time as they wish
- If the same candidate is referred by multiple employees, the first employee gets a reward
Who is eligible to take part?
All our employees are eligible to take part in this program.
Who can be referred?
Not all the candidates can be referred. The only two groups of people who cannot be referred include:
- Candidates that haven't applied in the past [x months]
- Candidates who were previously laid off because of breaching rules and regulations
- Are on [company name]'s "Do not hire" list
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