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Employee Referral Bonus Policy Template

Use this template to build a employee bonus policy for referring successful new hires.

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Employee Referral Bonus Policy Template

Use this template to build a employee bonus policy for referring successful new hires.

About the Employee Referral Bonus Policy

What’s an Employee Referral Bonus?

A referral bonus is a financial incentive offered by a company to an employee who refers a job candidate who is subsequently hired by the company.

Referral bonuses are often used by companies as a way to attract top talent. Employees who are already familiar with the company and its culture are often in a good position to identify and refer qualified candidates who will be a good fit for the organization.

Why We Do Employee Referral Bonuses

At [Company Name], we believe that our employees are our greatest asset, and we are committed to supporting them and recognizing their contributions. As part of this commitment, we offer referral bonuses for new employee hires.

Our referral bonus policy provides a cash bonus to employees who refer successful candidates for open positions at our company.

Our Employee Referral Bonus Policy

Specific details of the policy are as follows:

  1. Employees who refer successful candidates for open positions at our company are eligible for a referral bonus.
  2. If the employee you refer is a direct report to you, you are ineligible to receive a referral bonus.
  3. The referral bonus amount will be determined by the position and level of the successful candidate. The exact amount will be provided to the referring employee at the time of the referral.
  4. The referral bonus will be paid to the referring employee after the successful candidate has been employed with our company for a period of 90 days.
  5. The referral bonus is subject to all applicable taxes and withholdings.
  6. Employees are limited to referring a maximum of three candidates per calendar year.

We believe that our referral bonus policy is a valuable way to recognize and reward our employees for their contributions and to support the growth and success of our company.

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