Employee Referrals - How much does your company offer?
Hi All,
I'm working with my team to hopefully re-vamp our employee referral process and wanted to gain some insight, if possible, from other companies. If you would be willing to share what your company offers as an employee referral bonus, I would greatly appreciate it.
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We offer our employees .25 for every hour and .37 for every overtime hour the new hire works in their first 90 days. If the new hire terms before the 90 days then the bonus is forfeited. It is a lot of tracking and calendar reminders, especially during our peak hiring season but finds this is more effective for retention than just an upfront referral bonus. The industry I am in is Theme parks.
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Thank you for sharing, Judy!
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We give a total of $2000. $1000 at time of hire, and $1000 at the 6mo mark.
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We've had two programs. First program was $500. $250 upon hire and another $250 at their 3 month mark.
Now our program is $1000 but only after the new hire has completed one year of employment. Personally, I think that is too long of a time before the employee gets any payout.
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Typically we offer 2,500 upon 3 months completion of employment by the new employee. However, since we have had such a difficult time attracting people, instead of paying 3rd party recruiters, we started offering 10k for 3 months hoping that it will help us in this crazy market!
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We offer $1000 total, $500 after 90 days and the remaining $500 at 6 months.
