How much weight do you put on referrals? Anecdotally speaking, do you see more success working with candidates introduced to you through a referral?

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They’re gold, especially if the referee is a great coworker

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Depends on the industry and role. One company I’m aware of almost exclusively sources their employees through referrals because it’s a small company and much of the work is collaborative so it’s important that team members work well together. That particular industry is close-knit, so everyone has an established reputation. My larger company does do referrals, but for every role, there are about 10-25 of them, so a referral doesn’t mean as much because many of the roles put more weight on pedigree (competitive university, high GPA, and significant consulting experience from a big 4 company).

Because my account is hospitality in sports and entertainment I actually do place a lot of weight on referrals. Even though I have over 1k pt and ft employees just at my nba account it is a small community. If you are good I’ll know your name. If you got fired from a competitor I’ll know your name.

checking references is busy-work. no two job duties & goals are the same. you're also assuming the person will report into the same kind of manager.

Dang people still do ref checks?

Usually the more senior referrals are best. Most of all junior referrals are from junior employees looking for the referral bonus. I’ll talk to all of the referred candidates but not all move forward. Maybe 25% are a fit for the job
Also if the referral is for someone on the same team as the referee they are usually better qualified.

not particularly, a lot of referrals come through for the bonus incentive or to help out a friend.

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