Home > Human Resources > Best way of recruiting? Hefty Referral Bonuses

Best way of recruiting? Hefty Referral Bonuses

I have seen this strategy used with many companies I recruit for. As we all know, referrals are the best source of finding that ‘needle in a haystack’ candidate. What better way of seeing if a potential candidate is a fit by using an existing employee working for the company. Recruiters use referrals all the time to find the high performers. Normally, the high performers aren’t actively looking for work but are passively looking for next great opportunity. Some recruiters even give financial compensation to gather company lists or organizational development charts at companies.

The question lies to: how much should companies pay for this information. A few hundred dollars, a few thousand? How can we quantify the quality of this information. This article breaks the referral compensation model down and gives a good idea on how one should be compensated if given a qualified lead. Maybe recruiters should follow the same referral model.

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Categories: Human Resources
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