While many expansion-stage software companies have an employee referral program (ERP) in place, not all deliver the value, results, and impact that they should.

Successful referral programs can often yield better candidates, accelerate time-to-hire, improve candidate diversity, and mitigate employee turnover. According to Jobvite data, for example, referred employees are 20 percent less likely to leave a company after three years. Similarly, another study found that referred workers perform substantially better on high-impact productivity metrics than non-referred workers.

This report explores the fundamental benchmarks that an ERP should achieve, shows you how to evaluate the performance of your ERP, and shares best practices for utilizing what should be one of your company’s most effective strategies for uncovering and hiring top talent.

“A high-quality referral can translate into significant time and cost savings, so make sure you reward referrers for contributing to that ROI. Doing so will improve employee participation and morale, and increase your chances of extracting full value from your ERP.”

— Sarah Duffy, Talent Manager, OpenView

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