Value of Referral Hiring: Why it's all about who you know?
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Value of Referral Hiring
Why it’s all about who you know?
Companies and Recruiters use a variety of sources like job portals to find appropriate candidates for
their coveted positions
Today, recruiters and companies are utilizing employee referrals
to find the best qualified applicants
Your employees have immense number of possible candidates within their respective social
Why hire through referrals?
New research says career sites and job boards have highest number of applications, but their
conversion-to-hire rates fall far behind referrals.
Only 7% of APPLICANTS come from REFERRALS and
this small number ACCOUNTS FOR NEARLY HALF of hires (40%)
TIMING IS EVERYTHINGREFERRALS ARE HIRED FASTER
By Number of Days
Employees hired through referral are 55 PERCENT FASTER than those who come through career site
Referral hires have greater job satisfaction and stay at companies
much longer than their counterparts
47 PERCENT of referrals and 39 PERCENT of those hired through CAREER SITES stay for THREE YEARS OR MORE, while only 14 percent of
those hired from job boards stayed.
By utilizing social networks and tapping into current employees networks, recruiters can
increase referral rates and thereby, the number of highly qualified applicants within
their talent pools.
Use GrowOut to fasten and optimize you Referral Hiring Process
For more details, visit our website
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