One of the most effective ways that companies use to recruit new employees is simply using the connections of their existing employees through employee referral. With employee referral software, it’s a triple-win system. Employees get paid for a referral bonus, candidates get a new job and companies expand their employees! Here are some of the best employee referral software available right now.
21+ Employee Referral Software
4. Phenom TXM Platform
12. Cornerstone Recruiting
17. The Muse for Employers
21. Lingo Careers
22. Staffing Referrals
What Is Employee Referral Software?
Employee referral software is recruitment software where employees can refer their close associates such as family and friends to join the company when they are hiring new employees for open company positions. Human relations, employers, and recruiters use this software to see if recruitment candidates have close associates with one of their employees so they can reward the employee for referring the candidate to the company.
Employee referral software increases employee engagement as employees get rewarded with bonus compensation for referring their friends and other close associates to join the company and be an employee in one of their open positions. Employee referral also helps lessen the work and time needed to find new employees, opting to rely on upon through connections of their existing employees to expand their employee network. Through this arrangement, employees act as de facto brand ambassadors for the company. Through this endorsement, friends and close associates of the employee will have higher chances of being accepted to the company.
Employee referral software should be able to contain management tools where all employee referrals are being stored. This is to help employers and human relations know which candidates are being referred by their employees. By knowing this information, employees can be compensated as a bonus for their referrals. For companies to compensate their employees, the software should connect to HR payroll software where their referral bonuses are being transmitted to their bank accounts. The software should also be able to connect and integrate with social networks software apps as employees reach out to their friends and close associates through the apps’ instant messaging features. Work and educational credentials are usually shown in social media profiles, making it easy for employers and recruiters to know the type of employees they are being referred to. The most important feature of the software is that it should integrate with the company’s pre-existing recruitment software as the most process of recruitment takes place through that software.
- Referral management tools
- Integration with payroll software
- Integration with social media services
- Connect with other recruitment software
Top 10 Employee Referral Software
EmployUs provide employers with simple employee referral software that encourages employee engagement with tools such as email workflow campaigns and campaign data analytics. EmployUs has 6 employees and earns annual revenue of $900,000.
HireUp allows employers to hire special persons as employees for their companies through its disability support workers platform. HireUp has 759 employees and earns annual revenue of $110.1 million.
Workable’s talent acquisition software allows employers to find the best-qualified candidates with its applicant tracking system and employee referral tools. Workable has 268 employees and earns annual revenue of $38.9 million.
4. The Muse for Employers
The Muse for Employers provides sophisticated talent hiring software that allows them to establish smooth communications with their candidates. The Muse has 216 employees and earns annual revenue of $31.3 million.
Hireology provides human relations with their all-in-one hiring and employee management software that allows them to perform every employee management and HR task including rewarding employees for referring new talent. Hireology has 186 employees and earns annual revenue of $27 million.
Comeet provides a collaborative recruiting software for recruiters to find the best candidates with its automated tools that increase their employee networking. Comeet has 84 employees and earns annual revenue of $12.2 million.
Manatal provides advanced recruitment software to human relations to hire the best and the most qualified candidates in their respective industries. Manatal has 35 employees and earns annual revenue of $5.1 million.
Zip2Hire provides recruiters with hiring software that gives them the tools they need to find suitable candidates easily which includes an employee referral feature. Zap2Hire has around 25 employees and earns a revenue of around $5 million.
ERIN provides companies with powerful employee referral software that makes it easy for employees to refer new talent and companies to grow their employee networks. ERIN has 27 employees and earns a revenue of $5 million.
10. Staffing Referrals
Staffing Referrals encourages recruiters to trust their employees to help them find new employees fast with their automated referral management software. Staffing Referrals has 4 employees and earns annual revenue of $600,000.
Is employee referral software a standalone product or a feature under other software?
Employee referral software is usually standalone, although it’s common to have employee referral as a feature in other software. It’s more cost-effective for recruiters to use software that has employee referral as a feature, rather than as a standalone product as it’s wiser to use software such as recruitment and employment software that has this feature integrated.
Do employees get paid for their referrals through employee referral software even if their friend or close associate who applied didn’t get in?
No. Employees will only get a bonus compensation from their referrals if their friend or close associate is accepted into the company. Rest assured, the employee’s performance or reputation is not affected by the rejection of their friends’ or close associate’s application to the company.
How much does employee referral software cost?
Pricing for employee referral software can range from free to $99 per month or more, with custom pricing available for some software. Pricing for employee referral software varies depending on the features available and the intended target companies. Small companies may benefit more from free or low-cost employee referral software, while big companies may benefit more from high-cost software.
Using this software can really expand the companies’ hiring pool as its added benefits that include employee engagement will surely help recruiters find the best, qualified candidates that they are looking for.
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