OpenView Report Shares Best Practices for Building Successful Employee Referral Programs

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New Report Highlights the Benchmarks Expansion-stage Companies Should Be Striving to Reach With ERPs

OpenView Venture Partners, an expansion-stage venture capital firm focused on providing technology companies with deep operational support, announced today the release of a new report entitled, “How Does Your Employee Referral Program Stack Up?” The report outlines five metrics that companies should be using to evaluate the effectiveness of their employee referral programs (ERPs) and shares several best practices to help them optimize their existing programs.

Building an ERP is an essential strategy that companies need to use to uncover and hire top talent. They can yield better candidates, accelerate time-to-hire, improve candidate diversity, and mitigate employee turnover. Yet all too often, companies don’t get these results because they fail to devote the time and attention necessary to building a great program.

“For an employee referral program to be effective, employers have to be creative and proactive, and foster a culture in which all employees recognize their important role in achieving talent acquisition objectives,” explained Diana Martz, Director of Talent at OpenView. “A high-quality referral can translate into significant time and cost savings. It’s an investment that’s almost always worth making."

OpenView’s report shares research and insights into how companies can best evaluate and enhance their own ERPs. It comes on the heels of the release of the firm’s eBook “Get More Talent!” earlier this year, which is a comprehensive guide to recruiting for expansion-stage technology companies.

OpenView’s reports support its mission of building great companies by providing expansion-stage companies with the operationally oriented tools and support they need to succeed. The firms recent reports cover insights on SaaS metrics, content segmentation, compensation research, and thought leadership. To learn more, check out OpenView’s other reports.

About OpenView Venture Partners
OpenView Venture Partners (http://www.openviewpartners.com) is an expansion-stage venture capital firm based in Boston that is focused on investing in high-growth software, Internet, and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies quickly optimize their product, go-to-market, and organizational and operational functions. Founded in 2006, the firm invests globally and has approximately $445 million in total capital under management.

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Kevin Cain
Open View Labs
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