Finding ideal candidates is always difficult for recruiters, especially when the sheer volume of candidates in the job market makes it tough to filter the quality candidates from the rest. Remote work has made it harder to justify the time, effort, and resources that go into hiring great candidates.
Employee referrals are the most reliable, available, and underutilized source of candidates for recruiters. HR teams can leverage their connections with current employees and get them to suggest worthy candidates. Your employees can help you reach the most relevant candidates in a fraction of the time and at a fraction of the cost of other candidate-sourcing channels.
During the early stages of a company’s life — and even at later stages — employee referrals offer the best channel for getting the talent you need to grow your company. Employees can refer candidates with ease by simply logging in to the employee portal on an ATS like Freshteam. Employee referrals are considered such a lucrative sourcing channel because they come with a number of advantages:
1. Referrals Reduce Time to Hire
According to HR Technologist, referrals are 55 percent faster to hire.
Employee referrals provide immediate access to talent since they are sourced through the personal connections of your employees. This cuts from the hiring process a lot of time that would otherwise be spent on the sourcing and screening cycles, coordination, negotiation, etc.
2. Referrals Improve Quality of Hire
A large part of the global workforce is made of passive candidates. Even with the recent shift in the job market that has increased the volume of candidates looking for a job, the top talent in most industries is often already employed in great and secure jobs. This means they might not be actively looking. . .