EMPLOYEE Countdown the hard data on Employee Referrals 10 KEY FACTS ABOUT REFERRALS
May 10, 2015
EMPLOYEE
Countdown the hard data on Employee Referrals
10
KEY FACTS ABOUT
REFERRALS
Hire Volume
Employee Referrals are the
#1 source in hiring volume
10
Hire Quality 9
Employee Referrals are the
#1 source in hiring quality
Speed 8
Employee Referrals
are the
fastest recruiting method
Application-to-hire time in days
29 days
39 days
45 days
REFERRALS
JOB BOARDS
CAREER SITES #1
Retention after 1 year 7
Referrals
46%
Career Sites
33%
Job Boards
22%
Retention after 2 years 6
Referrals
45%
Job Boards
20%
Percentage of applicants
Employee Referrals are only
6.9% of applicants
5
Percentage of Hires
46% of all hires
at top performing firms
are employee referrals
4
Applicant-to-hire Ratio
Referrals are #1
Applicants are hired at a rate of
1 out of 3 for top-performing firms
3
Cost per hire
Only $635 more
2
Job Boards
Referrals
$1,671 $2,306
Diversity Impact
Employee Referrals are the
“most productive” source for diversity hires
1
#1