Always interesting to hear how effective employee referral is, especially in such important regions as India. Shamik Paul at India's Business Line talks about the growing success of referral schemes in India for big IT outsourcers
Referral Stats:
TCS: 32% of hiring last year was through ‘Bring Your Buddy’
Infosys: 45% of lateral hiring is via referrals.
Satyam: Hiring costs are significantly down.
Wipro: Big gain is better quality of new hires
http://www.thehindubusinessline.com/2008/08/15/stories/2008081552030400.htm
Friday 15 August 2008
Wednesday 13 August 2008
Another referral article from Business Line. Good to hear corporate HR professionals confirming what we all assume to be the benefits of referral schemes:
* Adobe India, says employees have contacts in the target population and therefore, the probability of a referral candidate getting selected is higher.
I'm not sure I agree with Mr Gautam Sinha, CEO, Bangalore-based IT recruitment firm, feels that [referral] works best for small and medium enterprise companies. Sounds like a slightly biased remark in an effort to protect his revenues from placements in larger companies...
* Adobe India, says employees have contacts in the target population and therefore, the probability of a referral candidate getting selected is higher.
I'm not sure I agree with Mr Gautam Sinha, CEO, Bangalore-based IT recruitment firm, feels that [referral] works best for small and medium enterprise companies. Sounds like a slightly biased remark in an effort to protect his revenues from placements in larger companies...
Thursday 7 August 2008
Employee referrals preferred by India Inc
Some good stats from India's Business Line: http://www.thehindubusinessline.com/2008/07/17/stories/2008071752330400.htm
As India Inc takes a prudent view of the economics of running a corporation, the axe is increasingly falling on rising recruitment costs.
Referral Stats Roundup
Perot Systems: - (As of July 2008)48 per cent of hires in last three months have come from employee referral programmes. 28 per cent prior to that
- Agency usage reduced from 32 per cent to 13 per cent of our needs
Dr Pallab Bandhyopadhyay, Vice-President and Head of HR for Asia Pacific, at Perot
India employee referral bonus generally Rs 25,000- 50,000
Agency fee would be around 10-12 per cent of the hired person’s CTC = company ends up paying almost three times more to a recruitment firm than they would to the referring employee.
EMC India Centre of Excellence: 35-40 per cent of the workforce comes through employee referral programmes.
Intuit Technology Services Pvt Ltd: hiring through employee referrals is around 25 per cent of its total annual recruitment, while about 10 per cent comes through direct sourcing (company portal), 20 per cent through campuses and the rest through recruitment firms.
As India Inc takes a prudent view of the economics of running a corporation, the axe is increasingly falling on rising recruitment costs.
Referral Stats Roundup
Perot Systems: - (As of July 2008)48 per cent of hires in last three months have come from employee referral programmes. 28 per cent prior to that
- Agency usage reduced from 32 per cent to 13 per cent of our needs
Dr Pallab Bandhyopadhyay, Vice-President and Head of HR for Asia Pacific, at Perot
India employee referral bonus generally Rs 25,000- 50,000
Agency fee would be around 10-12 per cent of the hired person’s CTC = company ends up paying almost three times more to a recruitment firm than they would to the referring employee.
EMC India Centre of Excellence: 35-40 per cent of the workforce comes through employee referral programmes.
Intuit Technology Services Pvt Ltd: hiring through employee referrals is around 25 per cent of its total annual recruitment, while about 10 per cent comes through direct sourcing (company portal), 20 per cent through campuses and the rest through recruitment firms.
Employees acting as brand evangelist for your most important customers - your new hires
Good article on LiveMint.com about the value of enrolling your employees as brand evangelists for trialing new products and more importantly brand evangelists as part of your employee referral scheme.
http://www.livemint.com/2008/08/06231422/Employees-becoming-central-to.html?pg=2
“At Pinstorm, itself, one of the 26 parameters for performance assessment is how active the employee has been in publishing blogs and being a part of social communities,”
...This is great idea - I wonder how long it will be before other less technology focused companies consider this?
Referral scheme facts:
HDFC Standard Life's new referral scheme ‘Parichay’ (introduction) contributes 30% of recruits by creating internal brand ambassadors
http://www.livemint.com/2008/08/06231422/Employees-becoming-central-to.html?pg=2
“At Pinstorm, itself, one of the 26 parameters for performance assessment is how active the employee has been in publishing blogs and being a part of social communities,”
...This is great idea - I wonder how long it will be before other less technology focused companies consider this?
Referral scheme facts:
HDFC Standard Life's new referral scheme ‘Parichay’ (introduction) contributes 30% of recruits by creating internal brand ambassadors
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