Want to make extra money at your job? If your employer has an employee referral bonus program you can make extra money by referring your friends to open positions. One workplace benefit not talked about frequently is the employee referral bonus program. Employee referrals make up between 30-50% of hiring in the US. These programs help companies hire great talent quicker and they usually offer their employees a referral bonus if they hire that candidate. Make extra money referring jobs with these simple steps below.
Make Money Referring Jobs To Someone You Know
Do you already know who you want to refer to your company? Help them narrow which job they should apply to. If the job candidate only knows they are interested in the company, it’s hard to refer them and help them. Share information about different departments, certain roles you’d recommend and give them the link to search all open jobs at the company. Check in with them a couple days later and ask what jobs they are interested in. Then, submit their resume for that specific job opening.
If you know of an open position, but an immediate candidate doesn’t come to mind use social media to promote the job.
Leverage Social Media To Promote Open Jobs At Your Company
Use social media to promote open positions at your company. LinkedIn is a great platform to post job opportunities. Sometimes companies have example social posts to promote jobs to make it easy to share an open role. When a potential candidate reaches out, set up a meeting with them. Be available to answer their questions. Provide the potential job candidate background about the company and the job. If they’re still interested, refer them to the open job.
Refer A Candidate Following The Employee Referral Program Instructions
How do you make money referring jobs? First, confirm that your company offers an employee referral bonus. Next, know the terms of this program. Do you need to submit a referral following a specific process? Does the candidate need to stay with the company for a certain amount of time? In all cases, the person you refer needs to get the job. You must ensure that your company knows you referred that candidate.
Large companies likely have a portal for you to refer a candidate. If your company doesn’t have a portal, ask your manager or HR how to refer a candidate. Submit their resume through this portal and also reached out to the hiring manager or recruiter.
Employee Referral Bonus Amounts
How much money should you make referring jobs? Many companies tie incentives to employee referrals. Average employee referral bonuses amounts are typically in the $1,000-3,000 range. Of those companies that offer employee referral bonuses Meritage Talent Solutions found that 69% offered between $1,000 and $5,000. At one point the tech industry was offering up to $20,000.
Companies That Offer Employee Referral Bonuses
Many companies offer employee referral bonuses. Below are a few examples of companies that pay an employee referral bonus:
Glassdoor shares that the Apple employee referral bonus program pays $500 to $3,000 depending on the position and rumored to pay more in some cases.
Dell has a global employee referral program and shares the exact payout amount by level of position and location in a central location.
In 2015 Intel announced the employee referral bonus would be double for women, veteran and minority candidates that are hired. Employees were able to get $4,000 per hired referral, up from the standard $2,000.
At eBay, employees may receive up to $1,000 if their referral is hired.
Digital Ocean launched an employee referral bonus program in 2017. Digital Ocean offered $3,500 and a $1,500 charitable contribution paid on the employees behalf.
Employee Referral Programs Summary
Many companies ask their employees to help recruit new talent and offer an employee referral bonus if they get hired. Minimal effort is required to make money referring jobs. If you’re looking for a quick way to make cash and your company is hiring see if this is a benefit your company offers. Employee referral bonus amounts vary company to company so check with your company first to confirm what bonus amount they offer.
Have you ever taken advantage of the employee referral program offered by your employer?