Top 6 Employee Referral Statistics You Should Know

Employee referrals are a critical tool for finding new hires. In a 2015 SilkRoad study, employee referrals produced more hires than any other source studied. The best part is that you don’t need to invest in an expensive employee referral program to get more referrals. By strengthening the employee brand, your employees will encourage others to apply without even being paid to do so. In this infographic, we present you with 6 employee statistics that you should know.

Recruitment takes quite a toll on the company’s finance as there are costs involved to recruit a new hire. In Employee Referral Programs the company agrees to pay 4% to 5% as the referral bonus. Thus, a successful employee referral program can save most of the cost. It reduces the cost per hire. The recruiting team does not spend much of its money in the marketing of job postings, posting ads on job boards, the cost involved in the traveling of recruiters, and other miscellaneous costs are saved. A high performer employee will focus on bringing a high performer employee to the tea. According to a study by achievers, the chances of a referred candidate getting fired decrease by an average of 350%. So employee referrals improve the quality of hire. It also reduces time to hire and increases employee retention. 

To know more, download our infographic. If you want to know how you can use ATS for employee referrals, go check our blog on Medium and our website.

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Hanan Ashraf
A strong believer in the power that words have over people, Hanan works on producing content that is creative but at the same time graspable for readers. A content writer and digital marketing intern, she loves to write about automation, HR, performance management, and employee wellbeing.