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Best Practice by Business Week

Best Practice by Business Week

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Published by Maximo Ginez III
Best Practice by Business Week
Best Practice by Business Week

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Published by: Maximo Ginez III on Aug 14, 2009
Copyright:Attribution Non-commercial

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04/29/2014

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The 10 BestCorporatePractices
Employee-referralbonuses, town hallmeetings, and matchingcontributions are some ofthe tactics that makepeople feel good abouttheir employers
By Liz Ryan 
 I don't remember when I first heard aboutemployee-referral bonuses, but I remember how jazzed I was once I understood the concept. The company needsemployees — the current employees have friends — it's a match made in heaven. Done right, an employee referral bonusprogram can lower the cost of hiring, improve morale, and lower turnover, and what company wouldn't kill for thosethings?I've been a fan of employee-referral bonuses for at least 20 years, and that's why they've made our list of the 10 BestCorporate Practices. This list — 10 ideas that make great sense for employees and for the organizations that employthem -- is the sister list to our 10 Worst Corporate Practices roster.
BEST PRACTICE Page 1
 
 
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BEST PRACTICE Page 2
Employee-ReferralBonuses
The company gets a new employee with no recruitingfee, your friend gets a new job, and you get a check andthe gratitude of both your friend and employer. What'snot to like?
 
 
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Employee-DrivenTransfer Policies
I'm all in favor of policies that let youapply for jobs posted internally withoutyour manager's approval. After all,different folks do better or worse workfor different managers. And smartcompanies would rather have peoplestay in the organization than move toanother employer because a self-interested manager blocked a requestedtransfer.
BEST PRACTICE Page 3

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