Referral Policy Pro’s and Con’s – How to Get the Best Out of Your in House Resources
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Finding the most suitable employee is an arduous task for any business enterprise. The entire process calls for time as well as attention. As a result, the HRD always remains on its toes whenever there is a vacant position in the organisation.
Sometimes, the requirement may be so urgent that the HR executives end up calling several candidates for interviews without much success. In present times, however, the recruitment procedure has been simplified to a large extent.
A number of firms are seen turning to HR consultants and independent HR firms that have a database of potential candidates.
These firms however, charge a hefty fee which prevents several smaller firms from approaching them. This in turn has led to the immense popularity of the referral scheme which has gained considerable momentum in recent times.
The referral policy refers to a scheme which encourages the employees of the organisation to suggest candidates for a particular position. If the suggested candidate is found eligible for the work and the job offer is accepted by him, the person who referred him is given an incentive.
Most firms in the country provide this incentive in the form of cash rewards while some also extend special discount coupons and gifts.
The idea is that the company saves a lot of money through this procedure which does not require the HR executives to call up umpteen number of candidates for interviews. Furthermore, the company is not required to consult any HR firm for getting the right candidate.
However, the referral policy is not devoid of glitches either. On some occasions, the prospective candidates provide false information about their education background and experience. It therefore becomes essential for the organisation to ensure that the procedure is properly followed and the background of the candidate is checked adequately before extending the offer letter.
Roland Poitevin is a dedicated writer with a passion for business and environmental issues. You can check out his new website at Memory Foam Mattress which helps people find the best memory foam mattresses and the Visco Elastic Foam Mattress and information they are looking for relating to this subject.
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