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Started by : Darshana Sawant, HR Manager, Leading IT services company   12 18 2010 07:43:55 +0000
Industry : Human Resources (HR) ConsultingFunctional Area : Talent Management(People Management)
Activity:  97 views;  last activity : 07 19 2013 06:07:13 +0000

Today organizations are on a hiring spree in India at the moment and getting quality employees is the most difficult thing.  So, What sort of employee referral prizes motivate employees to refer their friends/tap into their networks?

 
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1 2 3 4 5
1 Money incentives
2 Elevation/Promotion is the incentive
3 Cash rewards
4 Appreciation Certificate & Money Prizes
5 Reasonably expensive goodies
6 not money.. let it be beyond..
7 "Inclusive" appraisals - a key motivation to get your employees refer more candidates
8 Set redemption points. Then, let them choose!
9 my idea

Money incentives

idea posted by Darshana Sawant HR Manager, Leading IT services company

I think this does the job for them....many organizations today give cash incentives if the referral gets placed in the organization, and money is one thing to which nobody would say no. This has been the best employee referral prize to motivate employees to refer their friends or tap into their networks.

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by Rathin Deb, Advisor and retail consultant, currently as Branch Manager, Tower Infotech Ltd  | 07 19 2013 06:07:13 +0000

I fully agree with cash prize but to my mind a paid foreign trip for the family will , probably, do wonders. Today visiting any of the places mentioned here like Singapore, Bangkok, Hong kong the travel & hotel charges has gone down considerably, hence instead of cash prize this may work better depending the budget of the Cash prize.

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by Business Management Consultant, You Can Ask Me Your Questions About Business Management, Professional Development & Personal Development  | 07 17 2013 10:53:13 +0000

Giving out some type of cash prizes is always good in addition to some time off from work like a few days or an extra week of vacation time or a reduced workload. Also to give training and promotion for a new position.

~You can ask me your questions about business management, professional development and personal development. Ask Here:

www.CEOBusinessManagementSolutions.com

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by jai2150 , QA/QC Manager, autometers alliance ltd  | 12 20 2010 08:41:04 +0000

yes you all are right this is true fact "money "is important but in view and it is also observed that in most organizations people are not assigned for correct role & responsibilities that also needs to be review this really good incentive for those who want to do something other than money .if you pay them and not rationally assigned they will never motivate by money and this will refelct on organization level.

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Elevation/Promotion is the incentive

idea posted by kanukurthy sudershanrao Operations Manager, Andhra Bank
Depending on the number of referrals accepted the employee should be given an elevation or promotion which in turn will give him the money in terms of higher salary and perks and also recognition in the organisation and outside that he is a good judge of the people/employees
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by Kaisar Ahmad Mir, Program Manager, Jan Shikshan Sansthan (ANHAD)  | 12 18 2010 14:21:00 +0000

To be honest promotion is the best incentive because it includes two aspects, one respect and another is money. Beside, money each and every person is thirsty for respect. And without respect money has no value.

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Cash rewards

idea posted by Jaygopal Raghavan Marketing Manager, Landmark Group
These are sure fire way of motivating the employee to get their friends to join. In fact like they say "money speaks many languages", so too would employees be able to convince even the most die-hard opponent to join their company.
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Appreciation Certificate & Money Prizes

idea posted by Kashif Billal Training & Induction Manager, H&M Hennes & Mauritz
I think if Companies provides the Employee with a Letter of Appreciation with another appreciation listen at the Company Notice Board/Activity Board/Main Frame and followed by a Money Prize would really make the Employee feel Appreciated deeply.
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Reasonably expensive goodies

idea posted by Saibal Ray SQA, confidential
A few goodies like a company T-shirt/ bags/ mobiles ranging from 3000 - 10K or an iPOD or some popular gadgets depending on the the level of the new recruit and the urgency of the requirements would be a step ahead to just cash incentives....A DOCOMO idea indeed!
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not money.. let it be beyond..

idea posted by Subhrangshu Banerjee Safety Officer/Manager, cipla

money may lead to hidden informations about the prospective employee... 'create your own work space' by means of refering potential people you know ... giving the referee additional say in recruitmrnt processed may be other kind of incentive.

anyway a person who is happy in his present organisation would refer and and a person who is unhappy would not. so rather than rewarding a person who has referred by money --one should consider relooking at the person who has not referred in recent past..as he might be unhappy and might be looking for a job.

but this should definately be a criteria that needs to be considered during appraisals - for salary hike or for promotion and how many candidates he has refered - needs to be an integral part of his career record.

 

thanks

 

Subhrangshu Banerjee

subhrangshu.banerjee@gmail.com

 

 

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"Inclusive" appraisals - a key motivation to get your employees refer more candidates

idea posted by Krishna Chidambaresh Director, Fetcher Human Capital

We have something called "Revgen" awards in our company. Ideas / referrals or just about anything done to contibute to improve the business are converted into Revgen points which are added in his appraisals apart from the cash awards. How valuable an employee is dependent on his contribution to critical areas of the business irrespective of where he is contributing."Cash" is a big motivation but not for all. Make each contribution count to an employee's career growth and they will be happy to give their best in all the areas they can. For example, I remember an employee who helped a huge ITES company strike technology deal when he was into customer service. Not his job, that did boost his scores at his appraisal. When the appraisals get "inclusive" of such contribution, they can make so much difference in the motivation of employees. My 2 cents..

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Set redemption points. Then, let them choose!

idea posted by Isaac Madhavan R & D Manager, Test prep company

There are very good ideas here. And most of them seem to be nice! Definitely, each idea is going to appeal to a different set of people.

So why not let the employees choose? Depending on the kind of person they are - technical, managerial, production, admin, etc. - they might like to choose between electronic goodies, mobile phones, software, cash, stock options, training programs, holidays, etc.

Each reward item could have a value in "redemption" points. These points would be earned for each successful referral and could then be redeemed for the desired reward item. This would entail some extra work - initially; the result, however, would be very satisfied internal customers - and perhaps their spouses too!. :D

There are very good ideas here. And most of them seem to be nice!  
Definitely, each idea is going to appeal to different sets of people. So why not let the employees choose? Depending on the kind of person they are - technical, managerial, production, admin, etc. - they might like to choose between electronic goodies, mobile phones, software, cash, stock options, training programs, holidays, etc. 
Each reward item could have a value in "redemption" points. These points would be earned for each successful referral and then redeemed for the desired reward item.
I agree with Sunil Thacker, a promotion should only be in response to the employee's performance. Referrals are surely NOT a part of an employee's performance, are they?
Though, I don't feel comfortable with Subhrangshu Banerjee's idea of letting the referrer take part in the recruitment process. In India , that is surely asking for trouble. Given the opportunity, I'd like to hire my cousins, my friends, my neighbours, etc. :D :D

 

I agree with Sunil Thacker, a promotion should only be in response to the employee's performance. Referrals are surely NOT a part of an employee's performance, are they? Though, I don't feel comfortable with Subhrangshu Banerjee's idea of letting the referrer take part in the recruitment process. In India , that is surely asking for trouble. Given the opportunity, I'd like to hire my cousins, my friends, my neighbours, etc. :D :D

And thanks heaps, Darshana, for a good topic to ideate on!

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my idea

idea posted by Sridhar Chari P PG Diploma student, Inistute of forigen trade services,hydrabad
yes company searching for good attitude employs thats way company offers more incentives to the employs.Ex;we are good attitude persons work with each other your friend is also good attitude he is suffered for another company process.do you introduce the good employ to this organisation its is also a one of the business logic thats it.
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