Employee Referral Program Policy Example

employee referral program policy

Program Overview

As (name of company) grows in business size and over countries, we require new sets of talented individuals to join us, constantly. As an example of what an ideal employee looks like, look around you and at yourself. Our current set of employees possess the highest standards and qualifications that match and mostly supersede industry standards. To further the mission and vision of the company through you, we have created this policy.

Policy Brief And Purpose

This policy is in place to ensure an active pipeline of candidates to the company for open positions. The employee referral policy is created to incentivize current employees to bring in friends and family to the organisation.

We are looking for the best quality candidates via regular hiring methods and the referral policy.

Scope

This policy is only valid for full-time employees that are not within the HR department. HR referrals will be handled differently.

Who Can Be Referred?

An employee who refers, must not do so for a candidate-

  1. Who has been laid off from a company due to fraudulent activities
  2. Who’s currently at a company who’s on our “do not hire” list

How To Refer A Candidate

  1. Visit the referral portal and see open roles
  2. Log in using your official credentials
  3. Look for the open position
  4. Fill in the form, with accurate and valid details
  5. If deemed fit for the role by HR, they will be sent an email with a direct-apply link

Referral Bonus Payment

The referring employee benefit is structured depending on the level of employment of referee. The first ⅓ of the amount due is cleared 30 days after referrals’ employment. After the referral has been employed for three months, the referring party will receive the balance due.

All claims and progress will be managed by the HR department and Team Lead of the department. Finally, in order to be eligible for the second payout, both referrer and referral must remain employed. Only one reward will be paid per candidate referral.

Structure

For E-Suite and above: 40% of one month’s salary

For Managerial level: 20% of one month’s salary

For anything below managerial: 15% of one month’s salary

Guidelines

  1. Rewards will be paid out within 30 days of new hire completion and post probationary period.
  2. There is no limit on the number of referrals a single employee can make in the fiscal year.
  3. Only the first referrer of the person will be paid amount dues, in the instance, there is more than one, we will track the first and rewards will be given to that person.
  4. This policy can change under the discretion of the HR department, at their will.
  5. Contract and part-time workers are not eligible for this scheme and should therefore refrain from asking for dues.