Employee referrals have the highest applicant to hire conversion rate – only 7% apply but this accounts for 40% of all hires.

Referral hires have greater job satisfaction and stay longer at companies – 46% stay over 1 year, 45% over 2 years and 47% over 3 years.

67% of employers and recruiters said the recruiting process was shorter, and 51% said it was less to expensive to recruit via referrals.