My company has doubled the referral bonus to anyone who refers a candidate with a specific skill set, which happens to be a system called QNXT that I specialize in.
Most referral programs offer anywhere from $1,000 - $2,500 to employees who refer a candidate who is hired and remains with the company for at least 90 days. The new referral bonus is $5,000, which is nothing to sneeze at.
The company's referral program is called "Refer Another You." That's all well and good if you're a top performer. We can always use more A-list people. But what if you're a C player or even worse, someone who is on a performance improvement plan? Then we absolutely don't want you to refer another you.
I often wonder how many people will refer other people regardless of their credentials or work performance just to get the bonus. I would never do this. My reputation is worth far more than a bonus, which is going to get sliced by 45% with taxes and retirement deductions anyway.
A couple of months ago, I referred someone who previously worked for my company. I thought they might refuse the referral bonus on a technicality, but they confirmed I would get the previous bonus payout.
Most referral programs offer anywhere from $1,000 - $2,500 to employees who refer a candidate who is hired and remains with the company for at least 90 days. The new referral bonus is $5,000, which is nothing to sneeze at.
The company's referral program is called "Refer Another You." That's all well and good if you're a top performer. We can always use more A-list people. But what if you're a C player or even worse, someone who is on a performance improvement plan? Then we absolutely don't want you to refer another you.
I often wonder how many people will refer other people regardless of their credentials or work performance just to get the bonus. I would never do this. My reputation is worth far more than a bonus, which is going to get sliced by 45% with taxes and retirement deductions anyway.
A couple of months ago, I referred someone who previously worked for my company. I thought they might refuse the referral bonus on a technicality, but they confirmed I would get the previous bonus payout.