This Week's Herman Trend Alert

Leadership in Normal 2.0
 

  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 Joyce Gioia, Strategic Business Futurist. 336-210-3548 or https://hermangroup.com. To sign up, visit https://HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."

HOW DOES SHE DO IT?
Our author Joyce gets quoted in TIME Magazine and other national media on a regular basis. You can, too! Sign up for ExpertClick.com. You will be found by the news media and in Google search: 1. Through your personal search-engine-optimized press room by 39 topics you choose; 2. By news releases pushed out 10 ways including Google News; 3. Be found in the 2020 printed Yearbook of Experts, Authorities & Spokespersons. Save 15% when you register by October 31st @ http://www.ExpertClick.com/Discount.

APF'S FUTURES FESTIVAL IN 3 DAYS: ONLINE OCTOBER 24TH: FULL SPECTRUM FUTURES
The Association of Professional Futurists proudly presents its annual online learning experiences on Full Spectrum Futures. Network with leading futurists from all over the world. And best of all, it's free to attend, though contributions are encouraged to help defray costs. For more information, visit here.

OUR VERSATILE TRANSLATOR ROCKS!
Excellent translation services from English, French, or German into Spanish. Especially well-versed in medicine/pharma and automobile industries. 5-year Bachelor Degree in Translation. Also editing and proofreading of all kinds of Spanish language documents. Flexible rates, depending on number of words, degree of difficulty/technicality, and turnaround. For an instant quote email Mariana Campora Lesti at marianalesti515@gmail.com or contact her on SKYPE at marianacampora.

To read this Herman Trend Alert on the web: https://hermangroup.com/alert/archive_10-21-2020.html.


Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers.

New subscribers are always welcome. There is no charge for this public service. The Herman Trend Alert is read by over 30,000 people in 90 countries, including other websites and printed periodicals. Click here to sign up for the Herman Trend Alert.

Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Herman Trend Alert service.


Subscribe or Unsubscribe to weekly Herman Trend Alert
View this week's Herman Trend Alert
Archived Weekly Herman Trend Alerts

                                                                                                                                                                                                                                                                                                                                                                         


[ Home · About · Products · Resources · Media ]

 

7112 Viridian Lane
Austin, TX 78739
Voice: 336-210-3548
Toll Free in US & Canada: 800-227-3566
E-mail: info@hermangroup.com


  © The Herman Group. All rights reserved.

Web site design by WebEditor Design Services, Inc.