Hello Everybody :D ,
Need your suggestions and help on a few issues.
We are a newly started IT company with about 80 employees, I need to start Referral Bonus scheme now as we are in the process of expansion. So can some one suggest me how to go with it, I mean the best practises in the industry.
Also , It would be a great help if some one can suggest some good " HR Software", which takes care of different aspects in HR like recruiting,pay rolls ..
I would appreciate if some can help on these.
From India, Hyderabad
1Need your suggestions and help on a few issues.
We are a newly started IT company with about 80 employees, I need to start Referral Bonus scheme now as we are in the process of expansion. So can some one suggest me how to go with it, I mean the best practises in the industry.
Also , It would be a great help if some one can suggest some good " HR Software", which takes care of different aspects in HR like recruiting,pay rolls ..
I would appreciate if some can help on these.
From India, Hyderabad
Hi Rajendra,
By referral scheme Iam assuming you are referring to the Employee Referral scheme
Here are a few pointers which you can make use of while designing a good scheme
1. All employees except the direct supervisor of the recruiting team can participate
2. All referral resumes to come as mail attachements to the HR Dept, just telephone numbers or mail ids will not be entertained. In case of 2 employees sending in the same resume. the one that send the resume to the HR first prevails
3. Fix the percentage of CTC you will pay as incentive in case of a reference turns an employee
4. Fix the time line by when the incentive would be paid to the employee
Hope this helps
Sherine
From India, Bangalore
By referral scheme Iam assuming you are referring to the Employee Referral scheme
Here are a few pointers which you can make use of while designing a good scheme
1. All employees except the direct supervisor of the recruiting team can participate
2. All referral resumes to come as mail attachements to the HR Dept, just telephone numbers or mail ids will not be entertained. In case of 2 employees sending in the same resume. the one that send the resume to the HR first prevails
3. Fix the percentage of CTC you will pay as incentive in case of a reference turns an employee
4. Fix the time line by when the incentive would be paid to the employee
Hope this helps
Sherine
From India, Bangalore
Hi Sherine, Thanks for the help. Could you please provide some more specific information on Points 3 and 4 , i.e. what are the normal standards that are followed.
From India, Hyderabad
From India, Hyderabad
Hi Rajendra,
I will not be able to comment on the normal percentanges but I think the least you offer should be one months basic. Here again you should take into consideration the salary level of employees and make it motivating for employees
As regards the time for payment of bonus, one month after the employee joins is good enough with a condition that if the person so recruited quits before three months, the employee needs to return the incentive.
I would request other members also to put in their experiences and suggestions
Sherine
From India, Bangalore
I will not be able to comment on the normal percentanges but I think the least you offer should be one months basic. Here again you should take into consideration the salary level of employees and make it motivating for employees
As regards the time for payment of bonus, one month after the employee joins is good enough with a condition that if the person so recruited quits before three months, the employee needs to return the incentive.
I would request other members also to put in their experiences and suggestions
Sherine
From India, Bangalore
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Employee referral scheme new.doc