The Economic Times: Cognizant’s Vice-President of Human Resources Talks About the Success of the Company’s Employee Referral Program
“Cognizant's referral program, called 'Bring Another You', contributes 40% of the total pool of employees, and offers cash prizes, paid vacation, cars and even double referral money for niche, hard-to-find skills,” writes The Economic Times. “At Cognizant, recruitment through referrals has increased by 10% to 15% in the past three years.”
Sriram Rajagopal says, “Referrals help shorten the due diligence process as compared to other modes; retain the organizational culture as most referred candidates have a fair amount of background knowledge about the company, and get people with the right skills and experience in a relatively shorter time.”
He adds, “Referrals provide higher joining rates, better performance ratings and higher interview-to-offer conversions as compared to other channels of recruitment. The conversion rate for offers made through our employee referral program is 10% to 15% more than those made through recruitment firms. Besides a more focused use of recruiter and management time, candidates, especially at senior levels stay on longer than those who join through other recruitment modes.”
Click here to read more.