What Percentage of Your Hires are Internal Referrals?
We all know that internal referrals are THE best way to get quality staff, and there are many reasons why…
- If someone is working in your business, they already know the culture, role, management etc, better than anyone. Often meaning they will put someone forward who they feel fits well
- You need to be massively over confident on the introduction, given that you are going to be working in the same business as them. Let’s be honest, you would not put your friend forward if you did not rate them very highly, especially if you had any doubts on the match – as both parties trust you and you must see them daily.
There are loads more reasons why internal referrals are the best way to gain quality employees, but my question is, what percentage of hires should come from internal referrals?
I was lucky enough to sneak into a conference a month back for In-House Recruiters – which was brilliant by the way, with just one speaker bashing agency, and he was ex agency himself!
One lady sat on my table said her company had targeted 75% of next years hire as internal referrals!! 75%!! That got me thinking…
This would be amazing, giving the earlier reasons mentioned and also cost per hire, however…
What do you see as a good target?
What % of hires do you currently have coming from internal referrals?
Do you track this?
Do you even do it?!
If not, why? Do it now!
Despite this technically competing against us as agency recruiters, it’s a no brainer to have this in place and to really push internally. If nothing else, it also shows that if people are happy to make referrals, then they are clearly massively engaged in the business, which is brilliant to have.
Please comment below if you have any targets in place for this, what you feel is good/realistic target and if you wish to share any great examples of this working in your business.
Given our unique Retainment model here at Bespoke, we have plenty of experience setting these up for clients and incentivising staff to get involved. So, if you want an informal chat further about implementing this, then give me a call on 07789221034, or drop me a message at [email protected]