Yahoo, India:  Rs. 125,000 bonus for hiring friends
By Catherine

New Year is fast approaching and the IT companies are hoping to cash in on techies who are planning expensive holidays abroad with referral bonuses.  Gone are days when employees were awarded food coupons and Rs. 5,000 cash reward as referral bonus. Now, Internal Referral is the ‘in thing’ in most of the IT/ITeS and BPO sectors.

Internal referrals not only allow companies getting their local as well as global workforce to recommend, but also help them to spot potential hires.

At a time when IT and BPO companies are hit by talent crisis, thanks to employees’ frequent job changes, internal referral offers not just cost advantage but also less hiring time, assured quality and also helps companies to spot people with rare skills.

While IT czar Wipro is constantly upgrading their referral bonuses, keeping up with latest trend is Yahoo! India.

Take a look at what these two IT giants have to offer their employees as internal referral bonanza.

Wipro, as one of the respected market leaders is leading the pack.   Chennai Wiproites are being offered for referring Band B1/B2 – Rs. 20,000 or gift vouchers, Band C1/C2 – Rs. 35,000 or gift vouchers. And the icing on the cake is - for every 5 referral Joinees one could win a trip for two to Maldives. And the candidates they are looking for are Project Engineers and Architects to work in their Chennai offices.

Do we need to inform you guys that the referral can be done through WipLinks in TedWeb, Wipro’s in-house website?

When it comes to internal referrals, the new kid on the block – Yahoo! doesn’t seem to be far behind. Bring Your Own Yahoos! (BYOY) seems to be the mantra at Yahoo!

If you are a Yahoo!, you can invite your friends over at work. Tell him about BYOY, which is their referral programme. And you will receive referral bonus of upto Rs. 1.25 lakhs for bringing new Yahoos! into the organisation.

It doesn’t end with this. In addition to the cash reward, one will be rewarded with a swanky iPhone; yeah you heard it right – an iPhone, for select high priority position.

All one needs to do is refer their friends to Yahoo! by emailing their resumes to byoy@yahoo-inc.com.

By rewarding their own employees, the companies not only save some bucks from giving it to a recruitment agency, but also instill some ‘feel-good’ vibes among their employees.

Now that, it has become an open secret that most of the companies hire as high as 40-60% of their new recruits through internal referral programme, we hear the employees murmur the old adage ‘make hay while the sun shines’. And what a way to welcome 2008!