Employee Referral Bonus Program
The purpose of the Employee Referral Bonus Program is to provide an incentive award to a current employee in a full-time equivalent position who brings new talent to the company by referring applicants who are subsequently selected and successfully employed in a full time position.
2. Eligibility and Participation
Applicant – Applicants are persons not currently employed with the company.
Referring Employee – All employees in full time positions are eligible to receive a referral bonus with the exception of at least the following:
– Directors and officers of company
– Employees whose regular, recurring, jobs include the recruitment of employees
– Selecting manager/supervisor or other persons associated with the selection of the candidate
– All HR Department employees
Positions – Positions eligible for this program are advertised through the company website
3. Referral Bonus Amount
Under these guidelines, an employee may receive multiple bonuses, the total of which may not exceed $2,000 in any fiscal year.
Referral bonus payments will be paid in periodic payments until the new employee has completed one year with us. Payments cannot be made until the referred candidate has been employed for a minimum of six month. A $1,000 referral bonus will be structured as follows:
- $250 referral bonus awarded after three months from the hire date,
- $250 referral bonus awarded after six months from the hire date,
- $500 referral bonus awarded on completion of one year from the hire date.