Refer a friend to the company and get rewarded with a car, an iPad, a motor cycle or cash. Every software company has recognised the importance of employee referral and encourages their employees to bring on board more of their friends. Through this, the recruitment cycle time is cut by 15-20 per cent. Companies also need not do the mundane cross-checking of an individual’s credentials in the first round. Retention of the referred candidates was better than those coming from other recruitment means, including job portals. And, it is quite rewarding for employees who refer potential candidates.
Source: The Hindu