3 Reasons for an Employee Referral Program

Quality employees are the backbone of a successful business. Sometimes, companies may find it difficult and expensive to recruit employees. An employee referral program is something almost all companies should implement and here are 3 reasons why:

 

  • Reduced Costs: The costs of implementing an employee referral program are typically lower than standard recruiting costs. Having current employees talking up your company to their friends and finding people who could be a good fit is worth the cost of the program.

 

  •  Improved Quality of Hire: Although it might not always work out this way, typically a current employee will only refer someone that they think will be a quality employee and a good cultural fit at the company. If a referred candidate is hired, they will likely already know people at the company and be able to fit right into the workplace culture.

 

  • Builds Engagement: Employees that are talking about their workplace to their friends, are building an attachment to their company. Having an employee referral program can make employees feel like they have a bigger role in the future of the company.

Department of Labor will not Defend Overtime Rule

On November 22, 2016 a federal court temporarily blocked the proposed overtime rule that would have raised the salary threshold for exempt employees. Under these new rules, the overtime exemption for salary would have risen significantly from $23,660 to potentially as high as $50,440. Click here to read our previous blog about the proposed rule.

Now the Department of Labor (DOL) has decided it will not defend the overtime law that many claimed was too drastic for many employers to cope with.

Instead, the DOL has submitted a Request for Information. An RFI is an optional step that government agencies can take to gain public input as to whether a new law or a change in a law is necessary.  The DOL will likely begin a new lawmaking process and draft a new overtime law with a lower salary threshold.