Zalp Releases First-Ever Global Employee Referral Index

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ERi-logo We all know the value of employee referrals. In fact, according to the Career XRoads 2013 Source of Hire report, a job candidate who has acquired a referral is 3-4 times more likely to be hired. Utilizing employees and their networks can drastically reduce cost-to-hire, which is just one of the reasons many companies are investing in these types of programs. And to help with this, Zalp, the unique SaaS (software-as-a-service) based employee referral software company, recently launched an initiative called ER-i – The Employee Referral Index.

According to Zalp, the ER-i is “the first and largest ever global initiative on employee referrals that aims to set the benchmarks of a successful employee referral program.”

The new Index will allow organizations to evaluate their referral process by benchmarking it against that of industry leaders and other high performing referral programs of successful organizations. It covers important variables and key performance indicators crucial for the evaluation and assessment of any referral program.

Zalp has launched a global survey with over 1000+ participating organizations from different industries on certain key performance indicators of an employee referral program. The results will be produced in an Index for 2013, set to be released in Oct – Nov.

Each participating organization will also receive its own personalized indexing report designed to help the company measure its program against other companies’ to then understand and analyze improvement areas.

“At ZALP, our prime focus has always been to help organizations unleash the true potential of their employee referral program,” Priyanka Prabhu, marketing manager at ZALP, said. “We thought giving organizations a chance to benchmark their current referral program with that of others in their industry would be a great step towards that goal.”
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By Shala Marks