Statistics show that employee referrals typically provide the best source of candidates for a particular job opening. Some companies like banks and technology companies rely heavily on referrals as a high-value source for new employees and offer incentive rewards of up to thousands of dollars for a successful referral. These programs are highly successful and can generate up to 30% of a company’s new hires.

Here are some suggestions on how you can improve the quality of your referrals. To make good referrals, we encourage referrers to ask the following questions about the position and the candidate:

1) Who do I know who had shown interest in the industry/function in the past and may be looking to upgrade or move jobs?

2) Do I understand the key requirements of the position and do my referrals have the right qualifications?

3) Do my referrals have the right industry experience?

4) More importantly, do my referrals have the right functional experience?

5) Given what I know about the firm (if you have worked there before, or if you are familiar with the company’s culture), will my referrals enjoy the work environment there?

Former classmates, former colleagues, your friends and family and other professional networks (e.g. associations, groups, clubs etc.) can be a good source of referrals. People are usually quite flattered when they are referred to a job.

In addition, to refresh your networks, you can refer to your facebook or linkedin networks to see if there are people in your network who may be perfect for a particular position.

If you enjoy looking out for jobs for people in your network, you can also earn extra income by utilizing job referral sites such as Vawch.com in Singapore and Zubka in the UK. Who knows … the next referral you make can earn you that free trip to Bali you have been dreaming about.

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