Top 6 Best Employee Referral Software - March 2021
A complete guide to the best employee referral systems
Employee referrals are typically the best source of hire for companies. Referral candidates quickly move through the interview process, stay longer, and get ramped up faster.
While employee referrals can happen organically, or through the built in module in the ATS, it usually makes sense for companies to also partner with a dedicated employee referral tool in order to boost the number of referrals they are getting, as well as manage tracking, rewards, etc.
Pro tip: simple rewards through a platform like Caroo can be a great way to supercharge your referral program.
In this guide we’ll give you the insights you need to understand the employee referral landscape, a few vendors we think you should look at, and advice on implementing a successful program. Enjoy!
In this guide you’ll find: Best Employee Referral Vendors, Benefits of Employee Referral Software, ROI Calculator, Common Pitfalls, Pricing Information
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15
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Featured in
Top Employee Referral Software
We track thousands of HRTech solutions, these are the best Referral Technology per our research and expert council as of March 2021
Why we love it
:
ERIN is a newer entry to the referral software world, but already has over thousands of employees using their system across companies big and small.
ERIN
Review
ERIN allows your company to streamline the employee referral process through an intuitive mobile first tool. Employees can sync their network to the platform to get referral recommendations which is a key hallmark of any modern referral technology. Because their solution is mobile first, it's great for all types of referrals, including blue collar roles that are traditionally overlooked by most referral tech.
ERIN
Customers
Allied Universal, Gannet Fleming, Firefly
ERIN
Stats
- 650,000 employees worldwide
- Referrals in under 30 seconds
- Up to 5X employee referral hires in some cases
ERIN
Pricing:
ERIN has a Free Forever plan with one admin account only. After that, their Growth plan starts at $499 per month (billed annually) and is for up to 500 employees. If that's not enough, but you're under 1,000 employees, they offer a plan called Scale at $875 per month. If you have more than 1,000 employees, then their Enterprise plan is for you, which would require a request for a quote.
Best For
Companies of all sizes could make use of ERIN's technology.
Worth Checking Out:
Although in many ways ERIN is made to integrate with an ATS, you don't need one to use their referral platform. You can create jobs and manage referrals within ERIN as well, and it only takes a few clicks.
Why we love it
:
employeereferrals.com will work with you on a consulting basis to get everything up and running and make sure your referral hires increase significantly.
employeereferrals.com
Review
As the domain name implies, these guys have been in the referrals game for quite some time. That means they hook into all the various ATS’s and rewards programs out there. They’ve found their customers referral hires increase 15% on average (so if your hires are 25% referrals now, you can expect 40% after implementation).
employeereferrals.com
Customers
Notable customers include Crocs, ZipRecruiter, and DeVry University.
employeereferrals.com
Stats
- Millions of users worldwide
employeereferrals.com
Pricing:
Pricing with this vendor is not disclosed upfront, so you'd have to book a demo to move forward.
Best For
EmployeeReferrals is best-suited for companies with more than 500 employees.
Worth Checking Out:
Some of their proven templates for referral campaigns have been made with diversity hiring in mind.
Why we love it
:
RolePoint’s professional services team ensures you have a successful implementation, and continuously engage your employees.
RolePoint has historically been a leader in this market. They’ve recently merged with JobVite and a few other tools and so it’ll be interesting to see how the solution evolves with that HCM suite. However, it’s worth noting they integrate with the majority of ATS/HRIS vendors currently. Their customer base includes McKinsey, UPS, and LinkedIn.
RolePoint
Customers
RolePoint
Stats
- At UPS, they helped increase the number of referrals four times
- Acquired by Jobvite for $40M according to Crunchbase
RolePoint
Pricing
RolePoint's pricing is not disclosed within Jobvite's website, so the best way forward is to request a tour or take their 10 minute assessment.
Best For
In order to determine if RolePoint is for you, you can take a free 10 minute assessment in the Jobvite website.
Worth Checking Out:
Since RolePoint was acquired by Jobvite, they offer the tool within end-to-end suites for recruitment and HR, such as the "Talent Acquisition Suite" or a marketing-oriented one.
Why we love it
:
Take a look at Drafted’s network, which allows your reach to expand beyond your employees.
Drafted started as a marketplace that allowed anyone to refer people to a given company. They’ve morphed into a referral tool that allows your recruiting team to source from your employee’s networks. A key strength is their matching algorithm which has mapped over 40k jobs, translating to better referral suggestions to your employees.
Drafted
Customers
Better.com, Toast, Klaviyo, Apeel Sciences, Juniper Square
Drafted
Stats
- At Better.com, Drafted was used to get over 2,000 referrals and 300 hires in the first four months.
With other clients, the tool was used for wins like:
- 5X more referrals per open role
- 6X more referrals per employee
- 3X more hires from interviewed referrals
Drafted
Pricing
Drafted has a free 7 day trial for their first two packages. What are packages? They offer 3 main referral program packages that are priced per recruiter per month and per employee usage. For example, the External Referrals package starts at $10 per month, includes a branded referral page, source tracking, and unlimited team usage. The Internal Referrals package is for up to 25 users and is $100 per month. Each package can be purchased individually or you can get a bundle.
Best For
Drafted can be of much use to all organization sizes, but is specifically great for those that already use Slack intensively.
Worth Checking Out:
Drafted also uses AI and machine learning in order to match employee networks with open jobs, which is where their smart suggestions come from.
Why we love it
:
Boon’s solution is designed to increase referrals through ease of use, as well as a gamification layer.
Boon’s founders ran a recruiting agency that realized referrals were by far their number one source of hire. They built their own tech to boost referrals, and thought that others would get value out of the system they’ve built. What’s unique here is that this isn’t a solution designed just for fast growing tech companies as their customers are recruiting everyone from engineers to truck drivers.
Boon
Customers
Boon is used by Intel, Citrix, and SpaceX.
Boon
Stats
Among their customers, Boon has helped achieve milestones like:
- 45% increase in referral hires
- 5X more referrals per job
- 52% reduction in time-to-hire
- 40% cost savings per hire
Boon
Pricing
Although their exact pricing isn't revealed upfront, Boon has three available plans: Startup, Growth, and Enterprise.
Best For
Boon is a neat tool for startups, fast-growing companies, and established enterprises alike.
Worth Checking Out:
Boon's rewards system includes real-time payment tracking.
Why we love it
:
Teamable leverages your existing networks to make referrals that result in hires at better rates. They're also a long-standing vendor in this space, with a know-how worthy of consideration.
Teamable pioneered using your employee/alumni/advisor networks to boost referrals, and allow your recruiting team a new avenue to source talent already connected to your company. Their longevity means they have lots of data on potential referrals, as well as a great handle on how to implement this solution across your organization.
Teamable
Customers
Teamable has an incredible customer list that keeps growing: Spotify, Allstate, Lyft and many others.
Teamable
Stats
Among their customer base, Teamable has been instrumental in achieving wins like:
- 55% faster time-to-hire
- 75% reduction in cost-per-hire
- 40% better chances of getting hired for interviewees
Best For
Teamable is a good bet for businesses of all sizes.
Worth Checking Out:
Teamable acquired another company in this space, Simppler, in 2017.
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