employers are failing to make the most of employee referral schemes and as a
result are missing out on one of the most valuable recruitment tools, according
poll of investment banks by consultants Penna shows that although 80 per cent have
a scheme in place, only 12 per cent make hires through them.
research estimates that hiring directly from a referral can save between £5,000
and £6,000 per hire.
banks in the city are currently operating schemes that offer bounties of between
£5,000 and £15,000, but are reluctant to publicise them because of the current
spate of job cuts.
Moran a director at Penna argues that talent attracts talent and the most
effective resourcing strategies are built on referral and mobility programmes.