Refer, Track, Earn

Employee referrals refer to an internal recruitment method employed by organisations to identify potential candidates from the existing employees’ social network. It gives an opportunity to existing employees to recommend their friends, family members, peers for the vacancy existing in organisation.

The employee referral scheme is a preferred method of recruitment today, because it involves less cost and there are monetary as well as non-monetary benefits for an employee.

The Process

At Motilal Oswal Financial Services Limited, all employees can access the referral program webpage on company intranet, through which the data is collected and made available to the recruiters. The benefits of program extend to organisation, employees and the referred candidates.

The Organisation

The data of prospective candidates is sourced from popular job sites and through recruitment consultants. The task is tedious and involves the cost of recruiters. Also, organisation incurs cost in undertaking a contract with consultancy to source candidates.

Both the activities are costly. The manager’s job is to adopt the most cost-effective strategy to obtain the organisational goals. The most feasible and economical method then is through referrals. The only expenditure incurred here is in marketing and communicating the requirement. Click here to read more....

Read More IIPM Related Articles
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri's Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face