How to Track Employee Referrals in iCIMS

Employee referral programs are a valuable source of high-quality candidates, but without proper tracking, they can be challenging to manage effectively.

When using iCIMS to track referrals, there are two essential components to consider:

Two Components for a Successful Employee Referral Tracking Process

1. Referral Capturing – this includes the ability to easily identify and record the employee making the referral.
2. Payout and Eligibility Tracking – this includes verifying employee eligibility for a bonus, tracking payments, and canceling payouts if necessary when either the referrer or the new hire leaves the company before the payout is due.

While iCIMS provides tools for Referral Capturing, it does not currently support Payout and Eligibility Tracking. Let’s explore both components and discuss potential solutions to improve your referral program management in iCIMS.

Component 1: Referral Capturing in iCIMS

iCIMS offers three primary ways to capture referrals:
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1. Source on Application Field

With iCIMS, companies can capture referral information on the application form, allowing candidates to list the employee who referred them.

Pros:

• Easy for Employees: Employees can simply tell their referral to add their name to the application, making it a straightforward process.

Cons:

• Only Captures Referrals Who Apply: This method only tracks candidates who actually apply, missing out on potential referrals who may visit the job listing but decide not to apply or not complete their application, a common issue with legacy ATS platforms.
• Manual Verification & Mis-matches: Matching the name on the application to an employee requires manual work, and most candidates use a shortened name like Bob or even "my friend" for Robert. This is magnified if you have common names in your workforce or if the candidate omits the last name of the employee.

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2. Employee Login Approach

Another option is for employees to log in to iCIMS, search for the job, and click "Refer" to submit a referral.

Pros:

• Accurate Tracking: This method accurately records the referral source, reducing the risk of data entry errors or manual matching.

Cons:

• Will Lead to Low Engagement, Especially for Frontline Staff: Many frontline employees rarely use systems that require a corporate login, especially if they don’t have a company email. This can discourage participation, as logging in to make referrals is not practical for their daily workflow.
  
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3. Refer-a-Friend Button on the Job Post

Some companies place a “Refer a Friend” button on their job posts, redirecting to a simple form where employees can enter the referral’s name and email address.

Pros:

• No Login Required: Employees can refer candidates without needing to log in, which is more accessible for frontline employees.

Cons:

• Referral will Likely Ignore Invitation: The referral email will be sent to the candidate from a generic email address, which many frontline employees may ignore or dismiss as spam. Most frontline employees rarely check their emails, so the likelihood of them seeing these messages is low. Those who do may not recognize the sender, which further increases the chances of the email being marked as spam or overlooked entirely.
• Over-Reliance on Employee: This approach relies heavily on employees knowing their friends’ emails and sometimes even having their resumes on hand. This extra effort can discourage referrals, especially if employees feel uncertain or unprepared to gather this information.

Component 2: Payout and Eligibility Tracking

Once a referral leads to a successful hire, managing payout and eligibility tracking becomes the next focus. This includes verifying employee eligibility for a bonus, tracking payments, and canceling payouts if necessary when either the referrer or the new hire leaves the company before the payout is due.

Unfortunately, iCIMS does not provide built-in support for payout and eligibility tracking, which can lead to several issues:

• Manual Tracking: To manage payout schedules and eligibility, companies often have to use spreadsheets and other manual methods, leading to a time-consuming and error-prone process.
  
• Employee Frustration Due to Lack of Visibility: Without automated tracking, employees may feel in the dark about the status of their referral payouts, leading to repeated inquiries and a poor overall experience with the referral program.

A Solution

Eqo, an iCIMS Preferred Partner, offers a fully integrated referral platform that covers both components of referral tracking:

• Frictionless Referral Capturing: Eqo automates referral capture across different touchpoints, making it easy for employees to participate through text in 15 seconds without needing to log in. This maximizes referral program engagement.
  
• Automated Payout and Eligibility Tracking: Eqo simplifies payout management, tracking eligibility automatically, and providing employees with real-time updates on their referral status. This reduces the need for manual spreadsheets, efficiency and transparency, and gives a great experience to employees.

Using an employee referral solution like Eqo with iCIMS helps you create a smooth, scalable referral program that is easy for employees to use and that minimizes administrative work. By optimizing the referral process end-to-end, Eqo can help you unlock the full potential of your employee referral program.

Customer Story: Fairview Health Services

In just four months of using Eqo alongside iCIMS, Fairview Health Services achieved remarkable results with their employee referral program:

• 248 Total Hires: This included 73 nursing hires, among them 33 Registered Nurses (RNs), 9 Certified Registered Nurse Anesthetists (CRNAs), and 4 Nurse Practitioners.
• 37% Application-to-Hire Rate: Fairview’s application-to-hire rate for employee referrals reached an impressive 37%, far exceeding the industry average of 5%.
• Reduced Turnover: Referral hires contributed to workforce stability, with a 120-day turnover rate of just 3.1%.
• Saved 600 Hours: Fairview saved over hundreds of hours in manual tracking efforts, allowing their team to focus on strategic hiring needs.

This case demonstrates the impact of using Eqo’s dedicated referral solution with iCIMS, showing how a streamlined and automated approach can drive exceptional outcomes.