Recruiting Thru Employee Referral

Everything matters when it comes to recruiting the best Financial Services Professionals. Recruiting advisors, agents or planners? Everything Matters!  Every interaction your organization has with your customers and the marketplace, every interaction your managers have with your employees, every operational process and employee policy matters. If your managers are not creating a “happy” environment…then nothing matters. You can have the best recruiting resources and seminars and your hire and retention will still be anemic. Happiness counts.

Recent research shows that the best source of quality applicants comes from our employees – or more accurately, from happy employees. If you don’t have happy employees who are proud of their employer, don’t expect a stampede of employee referrals. If you do have happy employees…50% of your recruiting is done. The goal is to get one or two employee referrals from each employee at least once a year.

Employee Referrals are truly low cost high hires. Referral programs may cost $200 to $2,000 versus expensive print advertising, and even more for agencies and executive recruiting firms. Employee Referrals are high-quality hires. Employees are unlikely to recommend people who they think are unqualified or unreliable.  Employee Referrals usually result in decreased time in hiring. Employees are selling the company to the people they refer. Interviewers, including people in HR, can spend their time evaluating a candidate's background and qualifications. Employees also tend to recommend people who they know are ready to make a job change, which also speeds the hiring process

I will not get into an academic discussion of how to create a happy workplace. It is very simple:

• Be very familiar with your company or firm recruiting policies. Follow your HR policies.
• Be there for the employees. Help them succeed. Don’t just tell them. Help them.
• Be sensitive to their individual needs. Be a great listener and coach.
• Be fair…this does not mean be equal. People are different. Needs are different.
• Be accountable for the people that are entrusted to you.
• Create a work culture of teamwork and family…Everything Matters!

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Jim Robinson posted on Thursday, September 01, 2011

Posted in: Recruiting

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