vera simms
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Employee Referral Schemes

Employee Referral Schemes

I am interested to hear from companies in the private sector (financial services in particular) who actively encourage employees to 'refer a friend'.

Q: What form or reward/level of reward is made is the person is subsequently successfully employed by the company?

Q: Do you pay a standard amount to the employee or differentiate in some way depending on the role the person has filled?

Q: Do you pay to all levels of employee?

Many thanks
Vera Simms

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10th Aug 2007 14:21

Hi Vera,
I am implemented a few of these that have been quiet successful, leave me know if you would like a copy of this.

regards
Stephen

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21st Aug 2007 12:09

Suggest you also exclude HR from entitlement to an employee referral scheme.

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By LColton
19th Aug 2007 13:36

I am just about to implement a scheme at my workplace, most of our employees are customer service representatives with language skills and we will pay £200 (subject to tax/NI) for a referral following successful completion of 6 months probation. I had considered a voucher based scheme but I know that cash would go down much better! Does anyone have any experience of someone who has failed their probation - how has this then been handled with the referror?

Many Thanks
Laura Colton

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14th Aug 2007 12:34

We have a really successful referral scheme that fills 30% of our positions. We offer a total bonus of Euro4,000; half is paid on start date and the other half on successful completion of the 6 month trial period.

We offer this at all levels except Senior Management and where the person recruited would report to the person refering. HR are also excluded.

E-mail me if you have other questions.

Regards
Wendy

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14th Aug 2007 12:38

Vera,

One word of caution - if this scheme is a significant or major element of your recruitment activity you need to check that the recommendations bring in a balanced (race / sex[***] / age / disability etc) range of candidates. Recommendation schemes are a powerful recruitment tool but can lead to unintentional discrimination and careful monitoring is essential to avoid this pitfall.

Hope this helps.

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By Anonymous
13th Aug 2007 15:25

We pay £1,000 flat fee to all employees once the new employee passes their probationary period. This is available to all employees.

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9th Aug 2007 16:13

Hi Vera

I've worked in a number of FS organisations who run this sort of scheme. Although there were differences in general they:

- Only paid to employees under a certain level (not Senior Management or Directors)

- Paid upon completion of probation period (usually 6 months)

- Paid different amounts dependent upon job type - i.e. £500 for an admin role - £1-2,000 for a consultancy/senior management role.

- One company I worked for up to £5!

Hope this helps


Sean

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