Here Are 3 Compelling Reasons Why You Should Refer Someone For a Job
January 16th, 2019
What works better?
- Applying for a job through an ad with your two-page resume and a cover letter and competing with hundreds of other applicants.
- Connecting with a referrer at the company you’d like to work for and showing them why you are the perfect fit for the job.
The data is pretty clear. While referrals make up just 7% of candidates, they make up 40% of all hires. And they don’t just convert at higher rates. Referral hires tend to be happier at work, stay at the job for longer and perform better.
Yet making the decision to refer someone for an open job at your company isn’t easy even though you want to help people find a great position. How do you know they’ll be a good fit? What if you refer the wrong person and it hurts your reputation?
Look. There will always be solid-sounding reasons not to do something. But there are also a lot of great reasons to refer. Let’s take a quick peek at just three of them.
1. It helps the whole company
We spend about 1/3rd of our working lives at work and the people we spend that time with matter. Your wider social network affects your life and your performance. Because when people around us raise the bar, it makes us want to do better too.
By referring candidates who’ll strengthen the entire company, you are helping everyone around you grow and improve.
2. It helps you build a strong network
The statistical probability that at some point, you’ll be looking for a new opportunity is quite high. Just one look at the Bureau of Labor statistics data is enough to show that.
Did you know that out of the 126 million people in the US in full-time employment, 1.7 million were laid off or discharged in September? That’s 1.35% of the entire full-time workforce. And the numbers weren’t unique to September-- they are relatively consistent month over month.
Having a strong network - including a network of people you’ve helped - puts you in a better position for landing great future opportunities.
3. It helps you hone your leadership skills
Do you want to land a leadership role at some point in the future? Becoming a referrer can help you. A leader needs to be able to identify the strengths and potential of the people around them and help them use their skills to succeed. As a referrer, that’s exactly what you’ll be doing.
Prepare for the future
Referring the right candidates for open positions at your company builds up your skills while helping others. It’s a great way to expand your network and show that you’re committed to making your team better. And it doesn’t hurt that many companies offer referral bonuses and incentives.