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In this post, we will share information about employee referral programs. Employee referrals are a popular and effective way to hire top talent for your organization.
In fact, research shows that employee referrals are the most effective source of new hires, resulting in higher retention rates, faster time-to-hire, and lower recruitment costs. For example, did you know that 45% of referral hires stay longer than four years, compared to only 25% of job board hires?
Employee referral programs (also known as ERPs among some professionals) are a popular way for companies to recruit new employees by leveraging their existing workforce.
