external referral program

Many employers know and use an ’employee referral program,’ often shorted to ERP. Employees can refer someone they know to the company. If the hire is successful, the employee gets a bonus, such as paid vacation or cash reward. ERP’s in this sense are strictly in-house, and operate only within the company. But there’s another, more versatile kind of ‘ERP’ – the External Referral Program. In HR circles, it’s been called a lot of different things: Community referral program Non-employee referral program, or NERP Bounty hiring program Open referral program … and so on. NERP, ORP, CRP – whatever you like to call it, external referral programs are an in-and-out-of-house program that engage the community to find top talent. Now, let’s go[…]

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If you limit yourself to an in-house referral program, you’re neglecting the majority of talent in your network As we’ve written about before, employee referrals are a valuable, powerful tool for building teams. There are several types of employee referrals, and companies with referral programs have higher retention rates and are overall more effective than other sources of hiring. But many companies just incentivize their employees to make referrals – and stop there. In doing so, they’re ignoring a much bigger network of potential talent from which they could be getting introductions to candidates. Even without an external community referral program,  41% of referrals come from outside of your company already. A robust, community-sourced referral program should extend to clients,[…]