Reward programs signal to prospective workers that firms are progressive and provide insight into how staff members are treated.
As the economy continues to slowly improve, many companies are looking for more effective ways to recruit top talent. One trend that is proving to be especially valuable is the use of employee referrals.
Referrals often end up providing highly qualified personnel since employees act as the initial filter for the professional candidates. However, it can be difficult to encourage workers to act as recruiters, which is why some firms have taken to including rewards for referrals in their employee incentive programs. Recognizing the contributions workers make in the hiring process has allowed organizations to continually receive resumes of candidates who are not only qualified for jobs, but would fit well into the company culture.
HR consultant BLR also notes that employee reward programs can benefit the recruitment process. These initiatives signal to prospective workers that firms are progressive and provide insight into how staff members are treated.
"The brand of the company is very important," Chuck Csizmar, founder of CMC Compensation Group, explained in a BLR webinar. "A positive, well-respected brand makes it easier to draw in quality candidates … The more items or inducements that you're able to put on the table, the stronger the case you make for selling your organization."