10 key facts about employee referrals
DESCRIPTION
A countdown of the hard data on Employee Referral Programs.TRANSCRIPT
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EMPLOYEE
Countdown the hard data on Employee Referrals
10
KEY FACTS ABOUT
REFERRALS
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Hire Volume
Employee Referrals are the
#1 source in hiring volume
10
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Hire Quality 9
Employee Referrals are the
#1 source in hiring quality
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Speed 8
Employee Referrals
are the
fastest recruiting method
Application-to-hire time in days
29 days
39 days
45 days
REFERRALS
JOB BOARDS
CAREER SITES #1
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Retention after 1 year 7
Referrals
46%
Career Sites
33%
Job Boards
22%
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Retention after 2 years 6
Referrals
45%
Job Boards
20%
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Percentage of applicants
Employee Referrals are only
6.9% of applicants
5
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Percentage of Hires
46% of all hires
at top performing firms
are employee referrals
4
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Applicant-to-hire Ratio
Referrals are #1
Applicants are hired at a rate of
1 out of 3 for top-performing firms
3
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Cost per hire
Only $635 more
2
Job Boards
Referrals
$1,671 $2,306
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Diversity Impact
Employee Referrals are the
“most productive” source for diversity hires
1
#1
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