Employee referral technology is quickly becoming a core capability in a modern TA tech stack.
According to Aptitude Research, 84% of companies believe employee referrals are the most cost-effective way to find talent. They can improve quality of hire, reduce time to fill, and impact employee productivity and retention. Most importantly, employee referrals bridge the gap between recruitment and retention by engaging both new hires and existing employees in the hiring process, and raising awareness for employer branding efforts.
Despite these benefits, many companies struggle with low participation rates, lack of support, and poor communication – and the programs ultimately fail. Technology and automation can help companies create more consistent and meaningful relationships, expand talent pools, and track and measure employee referral program effectiveness.
This report, based on data collected in 2022, will look at sourcing approaches and the inclusion of employee referral programs, including:
- The challenges with sourcing talent today
- What is driving the investment in employee referrals
- The benefits of employee referrals
- Why most employee referral programs fail
- The strategies and technology options should companies consider