Struggling to measure the ROI of your employee referral program?

Here’s a simple guide on how to do it:

Focus on these key KPIs:

1. Ratio of referred vs. hired
   Compare this to the ratio of applied vs. hired from other sources.
2. Average retention
   Measure retention of referred candidates vs. non-referred.
3. Performance comparison
   % of top performers vs. low performers from referred vs. non-referred.
4. Promotions
   % promoted within a designated time frame (e.g., 2 years) from referred vs. non-referred candidates.
5. Revenue generation
   For roles with objective performance data (like sales), quantify the average revenue referred candidates generate vs. non-referred.

How are you tracking your referral program’s success?

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