April 17, 2018

Another Winning Hiring Tip!

By Paul Bieber

I used this idea at our glass fabricator and it was certainly the most effective tool to hire folks in a tough hiring environment, like we are in now. Not only did this plan bring in more and higher-quality candidates, more folks lasted more than a year. Are you listening to the trumpets? Do you see the skyrockets going off? Here it is … pay a bonus to your current employees who bring in an employee who stays with the company for more than 120 days.

You spend money placing ads in the paper or on the web; you pay headhunters; and you spend an inordinate amount of time interviewing, and still only get a 50-percent retention beyond 120 days, when you then start over again.

Here are the benefits of this program:

  • Your present employees know the company and would only recommend folks who would probably fit well with your organization.
  • Your current employees would only want to bring on people that will succeed as this positive light will shine on both the new hire and the current employee.
  • It shows that your current employees are proud of your company, that they would want to bring in their friends and family.
  • It is by far better to pay your current folks a bonus than to pay for job listings in various mediums.
  • It works. It brings in better people who will last longer with you.  
  • How much? I suggest the payment be between $500 and $1,000. This is a fraction of what your other costs are when interviewing. It is a big thanks to your current folks who are the ones working towards your company’s success.

Why wouldn’t you do this? There is no good reason not to do this unless you are in a union environment where only the union can sponsor new employees. Even so, have your current employees sponsor their friends to the union, and if they are hired, you still pay the bonus to the current employee.

This worked for me and I know it has worked for many of my clients. Feel free to call me, 603-242-3521, if you have any questions.