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    Employees Referral Policy

    Uploaded by

    Lakshmi Mallika
    This document outlines Virinchi's Employee Referral Policy. The policy aims to motivate employees to refer friends and acquaintances for open positions at Virinchi. The policy applies to all employees except those in human resources. It provides incentives for referrals that result in hires. Referring employees will receive 50% of the incentive after the referred candidate's first month and the remaining 50% after 6 months of employment. Incentive amounts are ₹10,000 for Level I-II roles and ₹20,000 for Level III and above. HR will track referrals and process incentive payments according to the guidelines outlined.

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    © All Rights Reserved
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    Employees Referral Policy

    Uploaded by

    Lakshmi Mallika
    167 views3 pages
    This document outlines Virinchi's Employee Referral Policy. The policy aims to motivate employees to refer friends and acquaintances for open positions at Virinchi. The policy applies to all employees except those in human resources. It provides incentives for referrals that result in hires. Referring employees will receive 50% of the incentive after the referred candidate's first month and the remaining 50% after 6 months of employment. Incentive amounts are ₹10,000 for Level I-II roles and ₹20,000 for Level III and above. HR will track referrals and process incentive payments according to the guidelines outlined.

    Original Description:

    Referral Policy-Internal

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    This document outlines Virinchi's Employee Referral Policy. The policy aims to motivate employees to refer friends and acquaintances for open positions at Virinchi. The policy applies to all employees except those in human resources. It provides incentives for referrals that result in hires. Referring employees will receive 50% of the incentive after the referred candidate's first month and the remaining 50% after 6 months of employment. Incentive amounts are ₹10,000 for Level I-II roles and ₹20,000 for Level III and above. HR will track referrals and process incentive payments according to the guidelines outlined.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    167 views3 pages

    Employees Referral Policy

    Uploaded by

    Lakshmi Mallika
    This document outlines Virinchi's Employee Referral Policy. The policy aims to motivate employees to refer friends and acquaintances for open positions at Virinchi. The policy applies to all employees except those in human resources. It provides incentives for referrals that result in hires. Referring employees will receive 50% of the incentive after the referred candidate's first month and the remaining 50% after 6 months of employment. Incentive amounts are ₹10,000 for Level I-II roles and ₹20,000 for Level III and above. HR will track referrals and process incentive payments according to the guidelines outlined.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Employee Referral Policy

    The objective of the policy is to motivate employees to refer their friends or


    persons known to them for employment in Virinchi, thus getting the
    prospective candidates for various openings with Virinchi.
    Scope: This policy is applicable for all employees across the organization
    except the employees from the Human Resources Department.
    The Policy:
    1. This policy is known as The Employee Referral Policy
    2. All employees of the company can refer their friends or the persons
    known to them for an employment in Virinchi.
    3. The employee who will be referring their friends or persons known to
    them will be known as Referrer.
    4. HR department will conduct the interview / interviews as per the
    existing Recruitment Policy
    5. If the candidate refereed by the referrer is selected for an employment
    in Virinchi, upon completion of 1st month pay cycle by the referred
    candidate / employee, the referrer will get 50% of the referral incentive
    and the remaining 50% will be realised after completion of 6 months
    pay cycle of service with the company. The referrer will be eligible to
    get Referral Incentive as per the below grid.

    S.NO

    Career Level

    Referral
    Incentive

    1.

    Level I & II

    INR. 10,000/-

    2.

    LEVEL III & ABOVE

    INR 20,000/-

    Example: If an employee A refers his friend B for the any position, & if B is
    gets selected for this position, employee A who has referred his friend B will
    be getting a referral incentive of INR 10,000. This amount will be paid to
    employee A, however 50% of the referral incentive will be paid after
    completion of 1st month pay cycle and the remaining 50% after B completes
    06 months of service with the company.
    Mode of Payment of Referral Incentive
    1. HR department will have a record of the candidates / employees being
    referred by the employees which will be recorded in the Interview
    Assessment Sheet at the time of interview.
    2. The details of the referred employee will further be recorded in the
    monthly recruitment tracker.
    3. Once the referred employee / candidate completes the above
    stipulated duration with the company, the HR department will put a
    note to the accounts department for the payment of Referral Incentive
    to the employee ( referrer ) who has referred the candidate / employee.
    4. HR Department will forward the note for the payment along with the
    supporting documents like the Interview Assessment Sheet capturing
    the date of interview, reference details duly signed by the Head
    Human Resources.
    5. The payment of the Referral Incentive will be made to the employee
    through a Cheque or Salary Component (subject to statutory
    deductions)

    6. All expenses towards this policy will be treated as a part of the


    recruitment Cost & will be booked under the Recruitment Expense
    Head.
    7. In case of dispute the decision of the Head Human Resources would
    be final and binding.

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