Referrals make better hires.
It's been objectively proven time and time again that referrals are the #1 source of high quality, high performing, happy, long lasting candidates.
Studies have shown the following benefits to leaning on a referral-based hiring model:
- The #1 source in hiring volume
- The fastest time to hire (29 days for referrals, 39 days for job boards, and 45 days for career sites)
- Up to a 31% higher retention rate than alternative hiring methods
- 46% of hires at top tier companies are referrals
- #1 applicant:hire ratio - 1/3 for referrals versus 1/18 for all other sources
- Despite common misconceptions, referrals are rated as the #1 "most productive source" for diversity hiring