How To Get Your Employees Hooked On Your Referral Program Josh Willows, Broadbean EMEA

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About Broadbean

© 2017 Broadbean

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Why change now?

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Why should you focus on social media?

• One average, 1 employee share generates approximately 20 clicks on Facebook and Twitter

• An average employee advocate is 2x more trusted than a company CEO

• Only 33% of candidates trust brands, whilst 90% of candidates trust recommendations from people they know.

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Employee Referrals – The facts

• #1 Source in Hiring Volume• #1 Source for New Hire Quality• Highest retention rate of all hires• Strongest application to hire ratio• Rated top source for diversity impact• Best on the job performance of all hires.

Sources: Staffing.org 2011; Creating an Employee Referral Program: Guideline for Getting Started, Bersin by Deloitte, December 2013; Dr. John Sullivan and Associates research 2008-2011; The Shortest Path to Better Hires, Oracle 2013

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A typical company Landscape

15-20% of

employees will refer

15-20% wont refer

We want to leverage

60% that are winnable but not actively

referring

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Rewards of the hunt is the search for material resources and information

* Reward: Things, money, information

Rewards of the hunt

Rewards of the self is the search for intrinsic rewards of mastery, competence and completion

* Rewards: mastery, completion, competency or consistency

Rewards of the self

Rewards of the tribe is the search for socialrewards fueled by connectedness with other people

* Reward: Gratification from others

Rewards of the tribe

The Hooked Model - rewards

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Rewards of the hunt is the search for material resources and information

* Reward: Things, money, information

Rewards of the hunt

The Hooked Model - rewards

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What are Micro rewards?

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A case study

We’ve noticed that employees are driven by the anticipation of a potential reward. By making these rewards more obtainable it drives engagement. And with that a higher ROI.

We offer 2 ways to reward:1. Micro rewards for loyalty2. Micro reward for certain actions

Let’s start with the type of rewards you can offerYour employees!

Engage your employees with small rewards

Company gifts

Can be either vouchers or physical presents like t-shirts, lunches, lunch with the CEO

Integrated. Effortless. Simple.

Amazon & Starbucks vouchers vouchers

How nice is it to receive a cup of coffee? Simple and straight forward. A great way to say thanks!

Charity

Set a value on target to be reached for the employee and transfer the amount when target is reached.

Type of rewards

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The loyalty rewards need to have a straight forward set up:

1. Levels. Create multiple moments (or levels) where your employees can receive rewards.

2. Intervals. Keep the intervals between the rewards consistent or make them incremental.

3. Reward. Choose the vouchers and the value of each reward and set them to each level.

TIP!: In general people tend to more motivated by smaller rewards that are with in reach. Set the reward too high and people might see the challenge to be too difficult.

Loyalty rewards

REWARD ACTIVITY

250 POINTS £3 cup of coffee voucher

500 POINTS £3 cup of coffee voucher

750 POINTS £10 Amazon

HOW TO EARN POINTS

Share 10 POINTS

Click 1 POINT

High five 10 POINTS

Invite colleague to SR 25 POINTS

Referral applies 100 POINTS or REWARD

Referral is invited for 1st interview

250 POINTS or REWARD

USER CASE

10 shares 100 points

200 clicks* 200 points

2 applications 200 points

Invited colleague 25 points

Interview 250 points

TOTAL 775 POINTS

Costs £6 + hire bonus

*On average every post on Twitter-Facebook-Linkedin receives 20 clicks

REWARD RESULTS

100 POINTS

Referral is invited for 1st interview £10 Amazon

Referral is hired Hire bonus

Referral applies

Rewards

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Summary

• The candidate market place is changing

• Your employees have the potential to reach a huge range of passive candidates.

• Having a referral fee might not be enough, you need to think about how you incentivise candidates more regularly

• The more frequent the rewards, the more engagement you will get from your employees.

Josh Willows, Broadbean EMEAjoshw@broadbean.comwww.linkedin.com/in/joshwillows@JoshBroadbean+44(0)20 7855 4175