Money is not working as an incentive for getting more referrals. Laszlo Bock, Google’s hiring chief wrote in his book that Google tried to increase referrals and therefore doubled its referral bonus from $2,000 to $4,000. But it didn’t help. Doubling the employee referral bonus resulted only in higher costs, with no improvement whatsoever regarding the quality and the quantity of referrals.
It is time that companies create better, more interesting incentives to promote their own referral program as a recruiting channel. There are certainly more creative and efficient ways for HR-Managers and Recruiters to get employees involved in referral programs. As an inspiration, we will present you 10 epic employee referral reward boosters. However, you need to keep in mind that every company culture is different, so you might be the best source when it comes to decide what would make your employees happy:
1. Is there a specific music genre which is especially popular among your employees? If so, why don’t you just hand out tickets for music festival in that genre as rewards – This could also be a great opportunity for your team to grow together.
2. Does one of your top referrers always wanted to visit Silicon Valley? You could fulfill that wish and simultaneously profit from new impressions he gathers and brings back to your company.
3. One of your employees always complains about the standard TV program? Just offer him salvation by endowing him with a 1-year Netflix subscription.
4. Is one of your employees extraordinary stressed? You could make her/him a present with a voucher for a spa weekend. If that would be too much, a voucher for a simple massage might also do the trick.
5. If you just want to acknowledge an achievement of a particular employee, send him a handwritten thank you note! He will surely appreciate it.
6. Is one of your employees in love with the apple watch? Maybe she deserves it…
7. Do your employees like wine (I mean who doesn’t)? Then organize a wine tasting session for your top referrers!
8. Also, a highly motivational reward would be to give away an additional day of vacation to the best performing referrer of the year.
9. Are your employees interested in making a positive contribution to the world? Why don’t you donate a certain amount to a NGO they pick as an appreciation for their efforts.
10. One of your employees is not very happy with the way her office looks? Give her a voucher for a nearby furniture store. They will undoubtedly be more pleased with that than a couple of bucks.
The lesson of today is: Do not underestimate the power of symbolism! Do not be afraid to show your employees that their work is valued with presents that are a bit more thoughtful than a financial bonus.
COO & Co-Founder