When it comes to source of hire, there’s no doubt that employee referrals remain king. Our 2016 benchmark research showed that one in 16 referrals are hired – compared to one in 152 candidates who apply through your website or job boards.
In our latest benchmarks volume, we’ve gone deeper into the funnel to understand how the recruiting process breaks down by stage for SMBs and startups – and the news isn’t quite what we expected. Sure, employers pass referrals on to the next stage of the recruiting process at sky-high – far above average – rates. But when it comes time for referrals to accept or decline a company's final offer to tie the knot, referrals' acceptance rates are...average.
Take a look for yourself.
A recruiting funnel that’s rich in referrals translates into greater efficiency all around. Are you maximizing the opportunity? Download our full benchmarks report to see how you compare.
Subscribe to our blog above to catch tomorrow’s post from Vinayak Ranade, CEO of the referral network Drafted, with tips on creating a thriving employee referral program.