Employee referrals can work well, but don’t miss out on the best candidates

According to research from employment review website Glassdoor, sourcing candidates through employee referrals can lead to a successful job match, but this method will not always lead to the best talent

The research found that employee referrals boost the odds of this by between 2.6% and 6.6%. However, this method of recruitment was only encountered by 10% of the 116,000 people surveyed.

Employers in the technology, consulting and finance sectors rely most heavily on employee referrals. Government, retail and food service, and energy and transportation employers use employee referrals the least often.

Collette Huckle, UK brand manager for recruitment consultant Reed, said that employers should think creatively about sourcing referrals, through social media for example. “Referrals come in a much wider network now,” she said. “It’s not just immediate friends and former colleagues; it’s shared through Twitter, through Facebook or LinkedIn. There’s plenty of diversity in networks that large.

“Referrals are more effective in some industries than others. For example, they are particularly good in social care and education. In a candidate driven marketplace you see referrals being used more often.”

Lee Biggins, founder and managing director of CV-Library, told HR magazine that there are both benefits and drawbacks to using referrals. “A personal recommendation from a colleague can be very valuable when identifying new talent, not to mention the elimination of the usual recruitment costs,” he said. “However, it’s important to remember that while referrals can be an effective hiring tool they should not be your only hiring tool, and should instead form part of your broader recruitment plan.

Don't miss out on the best candidates

Using referral schemes as your only means of recruitment could hugely limit the talent you attract to your company. Even employee's with the larges networks will not have access to the new and emerging talent in their sector.

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See more at: http://www.hrmagazine.co.uk/hro/news/1153198/employee-referrals-more-likely-to-result-in-successful-hires#sthash.cMv7DlDu.dpuf