The Modern Recruiter #30: How to build an employee referral program, with Nasser Oudjidane, CEO @ Intrro.

I get questions about employee referral programs all the time:
 
 -What’s a good target for our referral program? 15% of hires? 25%? 35%? 55%?
 -What should be the reward? If it’s money, how much?
 -How can I communicate with my team efficiently?
 
 So here's a podcast to finally answer those questions!
 
 Mostly people understand the value of hires coming from referral (they close faster, perform better and stay longer on average), but don’t know how to drive more referrals.
 
 I went on the hunt to find the best expert on the topic - found Nasser (who founded Intrro, a company focused on referral) and invited him to talk.
 
 Together we addressed:
 
 1/ The 5 pillars of improving referrals: Building the culture, Setting the right incentives, Build the right process, Optimize and Track, Improve the candidate experience.
 
 2/ A few market average numbers
 
 3/ The concept of ELTV (Employee Lifetime Value)
 
 4/ The “Recruiter Shakedown”, a recruiting technique used by Facebook and Google when new employees are onboarded, and when to execute it (after ~60 days)
 
 5/ That most employee referral programs follow a Pareto rule: 20% of employees will make 80% of referrals. And how to empower “power-referrers”
 
 And sooo much more.
 
 Here’s the article on the memory palace Nasser mention in the episode : https://articles.sequoiacap.com/3x-referral-rates

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