It's a typical Saturday evening. You're sitting down to dinner with a couple of your best friends from high school. You order your drinks and prepare to dig into your favorite appetizer when the conversation turns to a friend you all know and love, that is coming home after working abroad for a year with a mission group.
With her imminent return, she has started worrying about what she should do during her You love your job and the company you work for. So, you shoot her a text message and suggest she joins the team at your company! You tell her about one of the positions that you think would be a great fit for her and send the link to the job description. Excited, she promises to apply as soon as returns to the states.
You may not know it, but you just referred your friend to a job! If your company offers a referral program, this effort can be a win-win for both you and your friend. Here is everything you need to know about referral programs and how both you and your friends can benefit from them.
What Is a Referral Program? How Does It Work?
SaaSquacth, a company dedicated to helping businesses build relationships between consumers and their brands, defines a referral program as,
While every company's referral program is different, many have a similar general process. You provide your contact information and your referral's contact information to the company. The company will then review their information and help them follow through their process to purchase or use their service or product. Once your friend has followed up and purchased or utilized a product from the company, you typically will receive some kind of bonus or incentive for your referral.
What Do I Get Out of It?
I know what you're thinking, "This sounds great for the company I'm giving the referral to, but how does it benefit me?"
Every referral program is unique. So each reward is just as unique.
Some companies offer limited edition products or discount codes, while others reward referrals with monetary bonuses. This can be a great way to earn additional cash and many companies have no cap for how many referrals you can submit!
If you're referring a friend for a job within the company that you work at it can also help you solidify your own position within the company. When you refer someone to work with you, you're acting as your company's champion and investing in the business. When those referrals work hard and do well, this reflects positively on you, which can lead to more opportunities, more money, or a possible promotion!
Outside of the monetary or physical reward, you also get the emotional reward of knowing that you've just helped to make your friend's life better! who doesn't love that feeling?
What Does my Friend or Loved One Get Out of It?
Well, it depends on what you're referring your friend to. If you're referring them to try a new product or service, it should be making their life easier or better based on what that product or service does.
If you refer them to take a job, you're helping them so much more than with one pain point in their life that a different service or product can provide. You can help them find:
- A new career
- A purpose
- A way for them to make their life and their family's life better
Curious to see how a referral program works? Find out by referring a friend to MAU Workforce Solutions!