This Week's Herman Trend Alert Purpose Emerging as Important Driver of Engagement

The Herman Trend Alert October 14, 1998 Companies Handsomely Reward Employee Referrals In the face of shrinking labor pools, some employers are resorting to unusual forms of compensation for employee referrals. Rewards range from days off with pay to a brand new Jeep Wrangler that sells for $20,000. Some employers have been so disappointed with traditional recruiting that they no longer run advertisements in the local newspapers. They use employee referrals—exclusively! Many firms from trucking companies to high tech give cash rewards for referrals. Most often, an initial sum of money is given when the new employee starts work, with more given at three months, six months and one year. But as it was reported in the Wall Street Journal October 6th, iCube, a small information technology consulting company, offers the most generous of these referral bonuses: Workers receive a television set for each referral that results in a hire. If they’re desperate, like they were in August, iCube adds a VCR to "grease the skids." Three new hires within a year earns the employee two fully-equipped top-of-the-line bicycles or free housecleaning and laundry services for one year (We know what we’d pick!); five successful referrals earn the happy employee a $5,000 vacation for two—anywhere! After eight hires, the employee recruiter receives a 1998 Jeep Wrangler, with unlimited options. The bottom line is that employers save a lot of money with these employee referrals. When you consider the costs of running newspaper ads and paying headhunters, most of these employers believe they’re way ahead. According to Cathy Fyock, a fellow of The Workforce Stability Institute and author of Get the Best, the only caveat is that since "like attracts like," you will be replicating your current workforce. If you’re happy with the values, educational levels, and diversity of your current employee roster, that’s great. If not, keep in mind you’ll need to employ other recruiting measures as well. © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." WHO SENDS OUT YOUR NEWSLETTERS? We are convinced there is no better choice than ours! We have happily used DataBack Systems to deliver The Herman Trend Alert for over 10 years and. Visit their website (http://www.databack.com) or call Byron directly at 503.941.0427. You'll be glad you did. IS YOUR EMPLOYER AN EMPLOYER OF CHOICE®? Our effective, onsite seminars, workshops, and consulting can help you get there. We offer 1-, 2-, 3-hour, and full-day programs to help you communicate what it takes to become an Employer of Choice® and inspire your folks to get it done. In the future, being an Employer of Choice® will not be optional. Call Carol at 336-210-3547 to arrange a no-obligation conference call. Or order the electronic version of the Employer of Choice book on your desktop for only $17.80 @ http://hermangroup.com/store/books_all.html#2. STRUGGLING TO FIND THE PEOPLE YOU NEED? VETJOBS CAN HELP! Recently, hundreds of thousands of jobs remain unfilled due to a lack of capable people. If you are looking for qualified candidates, you need to hire a veteran using VFW-sponsored VetJobs, the largest military employment site on the Internet. Thousands of returning veterans are looking for good jobs now. Mention this ad in The Herman Trend Alert and receive a 10% discount on job postings. Call Ted Daywalt at 877-838-5627 or inquire at info@VetJobs.com. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is received by over 30,000 subscribers in 78 countries, in addition to other websites and printed magazines. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Trend Alert service. Click here to sign up for the Herman Trend Alert. Subscribe or Unsubscribe to weekly Herman Trend Alert View this week's Herman Trend Alert Archived Weekly Herman Trend Alerts

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