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Employee Referrals
Recruiting & Staffing
Employee Referrals
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Would anyone share with me how they handle financial compensation for Employee Referrals? Do you assign different monetary values based on the level of position? What is the going rate for non-exempt
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Forums » Topic Forums » Recruiting & Staffing » Employee Referrals
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Employee Referrals
posted at 6/2/2008 5:36 AM EDT
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Posts: 27
First: 7/22/2004 Last: 1/19/2009 |
Would anyone share with me how they handle financial compensation for Employee Referrals? Do you assign different monetary values based on the level of position? What is the going rate for non-exempt vs exempt level positions? Warehouse entry level versus IT or Accounting professional? |
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Employee Referrals
posted at 6/3/2008 9:32 AM EDT
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Posts: 237
First: 7/10/2007 Last: 8/31/2011 |
Have implemented these programs in several companies. I used the emp referral bonus primarily to get applicants for hard-to-fill positions. Back in the late 90s, the bonus ranged from $250 for a customer service position to several thousand for scarce IT professionals. Some companies pay less than a $100 referral bonus for clerical and CSR jobs, but I doubt that would be much of an incentive these days. Look at what filling a particular class of job cost you
You need a process for tagging an applicant as referred by a specific emp. We paid out the bonus in 2 or 3 installments. A) half when the referred applicant starts and the rest in 90 days; B) for larger bonuses that comp. paid 1/3 at start, a 1/3 at 90 days, 1/3 at 6 months. I known of some companies that pay the whole bonus at one time, usually after 90 days. |
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