how to get your employees hooked on you referral scheme
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How To Get Your Employees Hooked On Your Referral Program Josh Willows, Broadbean Consultant – Data and Analytics
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About Broadbean
© 2017 Broadbean
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Why should you focus on social media?
• One average, 1 employee generates approximately 4 clicks on Facebook
• An average exployee 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 rentention 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 huntRewards 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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We didn’t make this up
SocialReferral offers a new way to reward your employees for their ambassadorship: micro rewards.
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 we can offerto our users!
Engage your employees with small rewards
Company gifts
You have great rewards in stock yourself? We can offer these as a micro reward. Can be either vouchers or physical presents like t-shirts, lunches, lunch with the CEO. All is possible.
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!
Amazon is the worlds biggest online shop. We offer coupons starting at 10 pounds/euro/dollars.
Charity
Set a value on target to be reached for the employee and transfer the amount when target is reached.
Type of rewards
The loyalty rewards have a pretty 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 to high and people might see the challenge to reach one as too high.
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
Micro Bonus set up
Josh Willows, Broadbean [email protected]/in/joshwillows@JoshBroadbean+44(0)20 7855 4175