2020 Employee Referral Programs Benchmark Report

2020 Employee Referral Programs Benchmark Report

Analyzing referral programs of 200+ companies

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Table of Contents

2. Table of Contents 3. Why this Report Matters 4. About the Report 5. Key Takeaways

Respondents 6. Respondents by Sector 7. Respondents by Company Size 8. Respondents by Years in Business

Rewards and Referrals Overview 16. Rewards 17. Rewards and Extra Perks 18. "Hot Jobs" Bonus 19. Reward Restrictions 20. Referral Rewards and Hires

External Referral Programs 21. External Referral Programs

Applicant Tracking Systems 9. Applicant Tracking Systems (ATS) Breakdown 10. ATS Small Companies 11. ATS Growth Stage Companies 12. ATS Midsize Enterprise 13 ATS Large Enterprise 14. ATS and Referrals

Hires from Referrals 15. Hires from Referrals

Demographics and Referrals 22. Company Size and Referrals 23. Company Age and Referrals

Summary 24. Recap of Key Takeaways 25. Recommendations from Drafted 26. Additional Resources 27. About Drafted 28. Join the 2021 Report

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Why This Report Matters

Referrals have been a way to expand your network and recruit great people since the dawn of time. Seriously. If we look back all the way to 55 B.C. the first ever `referral program' was created by Julius Caesar who signed a decree offering 300 sestertii to any soldier that recruited someone to join the Roman Army*.

88% of employers say that referrals is the most effective way to hire, while 70% of employers agree that referrals also make a great culture fit. 45% of referred hires stay more than 2 years, which is more than any other source of hire.

*Source Link:

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About The Referral Programs Benchmark Report

This is the second Employee Referral Programs Benchmark Report from Drafted. We published the first one in 2017, which you can get here.

Our mission was to establish a baseline for employee referral programs, and share what we learn from our community of recruiting and talent teams.

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? Copyright Drafted, Inc 2021 Drafted.us

Key Takeaways

The choice of an Applicant Tracking System has minimal impact on referral hiring success.

The average percentage of hires from referrals is 27%, with 44% being one standard deviation above. In other words, if you're at 44% hires through referrals, you're doing an A+ job.

Most companies opt for a simple cash reward with a median referral reward $2,000.

50% of the companies offering a referral reward also offer a "hot job" bonus for hard-to-fill or urgent roles.

Referrals are the most popular hiring source for companies independent of company size and age.

Emerging trends include external referral programs and experiential non-cash rewards.

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Respondents by Sector

We collected data 200+ organizations, just over half were technology companies

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Respondents by Company Size

Most of the companies were privately held, and we split them into small ( ................
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In order to avoid copyright disputes, this page is only a partial summary.

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