Latest research by RolePoint shows the value of employee referral programs for hiring companies

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Recent research by social recruitment software company RolePoint, clearly shows the benefits of employee referral programs in attracting quality candidates.

The latest research conducted by San Francisco-based social recruitment software company RolePoint, displays the multiple advantages for hiring companies that are considering implementing an employee referral program. Currently employee referrals account for just over 6.9% of all hires in the United States, but RolePoint expect this figure to grow significantly over the next couple of years as usage of social recruitment software platforms becomes more widespread. Among their numerous findings, they state that “referrals are the #1 fastest recruiting method with just 29 days for referrals compared to 39 days for job boards, and 45 days for career sites.”

RolePoint also found that employees hired through a referral stay at a company for longer. “The average length of employment of all initial hires after two years of employment is highest among referred candidates, with 45% remaining at a company, compared to just 33% from career websites and 22% from job boards.”

Their research also indicates that top-rated companies have already adopted employee referral programs as their main source of hiring, according to RolePoint who said, “Currently 46% of all hires at top performing firms are referrals, while for all other firms, referrals range between 28% to 39.9% of all hires.” They went on to add that “at the top performing companies, referrals are hired at a rate of one out of three applications, and one out of 10 at average firms. This compares to an average applicant to hire ratio of one out of 18 for from all sources of recruitment.”

Surprisingly, RolePoint have also countered the conventional myth that employee referrals have a negative impact on staff diversity. Their research claims that “despite the old myth that referrals have a negative diversity impact, they were #1 as the most productive source for diversity hires, well ahead of major job boards, company affinity groups, and diversity career fairs.”

Those interested in finding out more interesting advice and statistics about the modern recruitment industry and social hiring should head to rolepoint.com.

About RolePoint

Recently launched social recruiting platform RolePoint is set to revolutionize the way companies organize their staffing solutions. It has been developed as a powerful tool designed to help find talented candidates within existing employees’ social networks. For more information on their products and services, visit http://www.rolepoint.com or give them a call on +1 888 571 2851 for more information on the company.

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Azar
Calm Lane Ltd
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