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Referral-Trac*
- A Lower Cost-Per-Hire and
Improved Employee Retention!
Companies
today are looking for ways to hire the best people
at the lowest possible cost. They are also looking
for ways to retain their human capital. Most HR
professionals agree that the best source of qualified
talent is to effectively leverage their own employees.
However, most organizations are not able to achieve
the results they would like due to the time and
resources required to keep a referral program
dynamic and "top of mind" with employees.
Organizations simply do not have the framework
or personnel for extending a program beyond a
small employee base.
The
market is ready for recruiting solutions that extend
brand and culture by leveraging the corporate talent
supply chain. Referral-Trac*can help you:
-
Lower
your cost per hire > If you can efficiently
administer and manage your ERP, the costs are
significantly less than traditional recruiting
methods such as contingent recruiters, newspaper
advertising, Internet job boards, campus recruiting
and job fairs. Look at the numbers from a recent
SHRM study.
*SHRM
- Average cost-per-hire
Contingent
Recruiter $37,830
*Source: SHRM/Employment Management Association
(EMA) recent cost-per- hire study. EMA devised
a factor for each category to approximate the
additional costs, such as salaries, overhead,
applicant travel, etc…equal to an additional 50%
of the reported data.
-
Recruit
>
ERM's referral software offers the technology
to increase the number of referral-hires to
50% or greater, significantly lowering your
recruiting costs.
-
Refer
> ERM efficiently drives the referral
process. The ultimate success of an ERP
is directly linked the efforts to increase
employee awareness and drive participation
in the program.
-
Recognize
> ERM handles it all automatically. ERM
will recognize when a referral is made, communicate
the rules and the associated awards employees
can win, reinforce the corporate mission,
highlight past referral award winners etc.,
-
Reward
> What is in it for the employee? You
can include any size cash awards, or assign
unique gifts to each job. Awards are easily
emphasized, changed or updated for your organization.
-
Retain
> An ERP and the associated awards are
a distinguishing employee benefit that your
competitors may not offer. Investments (awards)
establish real ownership with employees. These
investments go towards reinforcing loyalty,
company brand and culture!
- Bottom
Line: Companies who implement Referral-Trac* technology
will have a significant recruiting advantage over
their competitors.
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