Referral Bonus Policy
1. Introduction
At [Your Company], we value the contributions of our employees and recognize that your network and recommendations play a vital role in our growth. To encourage employee referrals and reward your efforts in referring top talent to our organization, we have established the Referral Bonus Program.
2. Policy Scope
This policy applies to all regular full-time and part-time employees of [Your Company] who wish to participate in the Referral Bonus Program.
3. Referral Eligibility
3.1 Eligible Referrals
An eligible referral is defined as a candidate who meets the following criteria:
Is not an existing employee of [Your Company].
Is not a previous employee of [Your Company] within the last 12 months.
Has not been referred previously by another employee.
3.2 Ineligible Referrals
The following candidates are not eligible for the referral bonus:
Temporary or contract hires.
Candidates who do not meet the minimum qualifications for the position they applied for.
Relatives of the referring employee.
4. Referral Bonus Amounts
The referral bonus amounts are subject to change and will be communicated by the HR department for each eligible position. Bonus amounts may vary depending on the position, department, or location. Please refer to the current Referral Bonus Program guidelines for specific bonus amounts.
5. Referral Process
5.1 Referral Submission
To refer a candidate, follow these steps:
Complete the Referral Form available on the [Company Website].
Provide all necessary information about the candidate, including their resume and contact details.
Submit the referral form.
5.2 Candidate Selection
All referred candidates will go through the standard recruitment and selection process. The referral will be recognized if the candidate is hired and successfully completes a probationary period of 90 days.
5.3 Bonus Payment
Referral bonuses will be processed and paid in accordance with [Your Company Name]’s regular payroll schedule. Taxes and deductions will apply as per applicable laws.
6. Taxation
Please be aware that referral bonuses are considered taxable income. The tax implications of receiving a referral bonus are the responsibility of the referring employee.
7. Confidentiality
All referrals and candidate information must be treated as confidential. Sharing or disclosing candidate information outside the recruitment process is strictly prohibited.
8. Program Changes
[Your Company Name] reserves the right to modify or terminate the Referral Bonus Program at any time. Any changes will be communicated to employees through email and HR announcements.
9. Compliance
This policy is subject to all applicable laws and regulations, and employees participating in the Referral Bonus Program are expected to comply with both the policy and relevant laws.
10. Contact Information
For questions or clarifications regarding the Referral Bonus Program, please contact the HR department at [Company Email] or [Company Number].
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