On the plus side, despite the potential problems — which can be overcome if handled carefully — hiring through referrals represents a huge savingsto employers, who can dispense with the often exorbitant costs of advertising as well as the considerable time that is typically required to sift candidates and go through the interviewing process.
These savings, however, are minimal compared to the other benefits of hiring referred candidates, because the latter have been found to work harder and stay longer than candidates who are hired through other more traditional methods. Not only does the employer winin terms of increased productivity, but in retaining the individual’s services for longer, they also avoid staff replacement costs, which can, in some cases, amount to up to ten times the employee’s annual salary. Consider these facts the next time you hire.
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Boost Your BusinessMaria NovakI have over 35 years' experience in Marketing Small Businesses. Categories
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