TORONTO, Feb. 7 /CNW/ - More and more Canadian employers are feeling the
"talent crunch" - and they need to uncover new ways to find and keep great
people. Employee referral programs may be the solution - one that benefits
employer and new employee alike.
Fact: For the first time since the technology boom, Canadian
universities can't meet employer demand for co-op engineering
Fact: Canada's hospitality industry - which today employs over
1.7 million people-needs to fill an estimated 300,000 more jobs by
Fact: Over 90% of recently polled large chartered accounting firms cite
hiring and retaining qualified staff as one of their top three
Falling birth rates and a growing number of baby boomers hitting
retirement age only compound the problem. Ernst & Young and other
organizations are responding to the situation by making employee referral
rewards a central part of their recruitment strategy. In fact, 33% of our
client-serving experienced hires came from referrals in 2007. We find the
approach offers many benefits:
- We take pride in our talented people - and our referral program
helps us hire new staff who are personally endorsed by
excellent current employees.
- Referred employees have a built-in mentoring system when they
arrive. It's a great way to welcome them to the organization
and help them get off to a great start.
- Inclusiveness matters to us - and we find that asking our
people to refer those they know helps us connect to great
people from a wide range of background and experiences and
bring them into our firm.
- Alumni referrals also help us tap into a far-reaching network
of talented people.
- Referral rewards can be very cost effective - especially
compared to other options, such as head hunters. Still, EY
employees can earn up to $7,000 by referring a great candidate.
Who: Ernst & Young's People team can offer great insight on how our
referral system helps us deal with the talent crunch and how other
companies can achieve similarly positive results.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and
advisory services. Worldwide, our 130,000 people are united by our shared
values and an unwavering commitment to quality. We make a difference by
helping our people, our clients and our wider communities achieve potential.
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