Each Friday The Recruiter’s Lounge is going to bring you Infographic Fridays. We’ll be finding really interesting and different infographics to share. Hope you enjoy!

How to Implement an Employee Referral Program [INFOGRAPHIC]

Employee referrals are one of the most lucrative ways to hire employees. According to ERE,  46% of all hires at top performing firms are referrals. This inforgraphic dives further into the importance of referrals and why you should be investing in an employee referral program.

Top Takeaways:

• Referrals are #1 in employee retention rate after 1 year at 46% vs. 33% careers sites.
• Referrals are a better cultural fit fit because they are pre-vetted by people familiar with how you work
• Cash rewards for referrals are the #1 incentive for getting employees to participate