The current recruitment landscape is volatile and punctuated by uncertainty. Tech giants have stopped hiring, there are layoffs globally, and more people are quitting than ever before.
Indeed, McKinsey research reveals that 40% of workers plan to quit their jobs as recession fears grow.
Hiring the right set of candidates is a real challenge for many organizations.
Organizations often blame the market conditions for shortcomings in their hiring process. For example, they might think their recruitment process has degraded due to market conditions.
Using an employee referral program in their hiring strategy helps companies/recruiters find new talent with assistance from the existing workforce. By offering rewards, incentives, or monetary benefits, the company encourages its employees to refer a qualified candidate for the business.