In today’s business world, time is money. Developing more efficient ways to get the job done will ensure that your firm stays competitive and you rise to the top of your field.
However, getting the job done efficiently is not just important when dealing with clients. Saving time on internal processes can really impact your bottom line.
One of the areas where you might be able to shave hours off your work week is with an Employee Referral Program (ERP). An efficient ERP can help save time in a number of areas within your day-to-day operations. Here’s how.
Decreased Hiring Time
Employees sell your company to the people they refer, so you can focus your interviews on getting a candidate’s background and skill-level evaluated for the position at hand.
Employees also tend to refer people they know are ready to make a job change, which only further speeds up the hiring process.
If your ERP offers an incentive to employees who make referrals, chances are that they are going to be sending you high-quality, qualified candidates. You’ll waste less time interviewing unqualified applicants and have a stronger pool to pull from.
Fewer Burdens on Management
When an employee makes a referral, chances are they are already familiar with the job they will be applying for. They probably have a good handle on your corporate culture, and they are probably going to have a positive attitude about your company.
Management deals with a number of things on a daily basis, however working with positive employees who want to be there saves time in dealing with morale or behavioral issues.
Referred employees may also have greater background knowledge about the position and/or your company as a whole. This could save valuable training time needed by management if the applicant already has a frame of reference coming in.
The Need For Speed
Candidates coming in from a job board or even your company’s career site still have several hoops to jump through before they are even considered for an interview. If you have a large firm, with numerous openings, you could be flooded with candidates. Still, the quality could be sorely lacking.
Instead of wasting time sifting through resume after resume brought in by an automated career engine, employee referrals give a more personal touch. Employees refer candidates that they feel have a real shot at getting hired. This means these referred candidates are typically better suited for any given open position.
It takes, on average around 25 days to fill a position with a referred candidate, compared to 36 days by a regular candidate. Save yourself the hassle and let your employees do the searching for you.
Are You Wasting Time on Hiring?
By letting your employees seek out rock star applicants on your behalf you save time on the front end. By hiring referred candidates that are already qualified for the position and familiar with their duties and your company culture you save time on the back end. Referred employees assimilate faster into the workforce, increase employee satisfaction, and increase productivity which all add to the overall efficiency of your organization.