Employee Referral Policy

  1. TITLE:

Employee Referral

  1. PURPOSE:

The Employee Referral Program enables the company to get the best talent available in the industry, through the existing employees. The best recommendation about an organization can come only from someone who is part of it.

  1. APPLICABILITY:

Employee Referral Program is applicable to vacancies as declared periodically on IWIN/ through HR fliers.

  1. FACILITATOR:

Recruitment Team/ Corporate Communications team: Internal Job Advertisement will be sent through mail, which would specify positions open and other relevant details. The same would be published on IWIN by means of a circular and also posted in the HR Section.

  1. GUIDELINES:
  2. Employee Referral Process: Steps
  3. To refer a candidate an employee needs to attach the referred CV and email it to ‘’. Any referred candidate walking into a branch directly will be considered as a Direct Walk In.
  4. Referred candidates will be reviewed against the JD/ minimum criteria and if found suitable, an interview shall be arranged with the Recruitment Team/Business Head.
  5. Selection would happen on merit only and the referral process would be considered as one of the multiple sourcing options being used by Recruitment Team to source talent for vacancies created within the organization.
  6. Rewarding Employees:
  7. Employees will receive their reward within one week of the referred candidate officially joining and completing 3 months.
  8. Reward to be paid out only on receipt of the Incentive Claim form, from the person making the referral.
  9. Value of the reward would be subject to the level at which the candidate joins us.
  10. Referral claim forms should be sent to Recruitment Team based at HO.The forms should have the approval of the Regional HR Manager.
  11. Eligibility & Exclusion:
  12. All employees are eligible to receive the Referral Reward except:
  13. All Human Resources employees
  14. Employees above the Grade of AVP’s.
  15. An employee making the referral cannot be a part of the interviewing panel.
  16. If several employees submit a referral for the same hired candidate, the employee who submitted the form first (earliest) will receive the reward.
  17. To be eligible to receive a referral reward under the Employee Referral Program, both the referring employee and the referred/ recruited candidate must be employed by the company at the time of payment.
  18. If the referred/ recruitedcandidate leaves the organization or is terminated from service within 90 days of his/her joining the organizationthen the company is not liable to pay incentive against that candidate.

  1. BENEFITS/ REWARDS STRUCTURE:

For every successful referral made subject to the candidate completing 3 months in the company:

Broking (Branch/ HNI/ PCG)*
Position / Referral Amount**
Marketing Executive / 1500
Assistant Relationship Manager / 3000
Relationship Manager/ Sr. Relationship Manager/ Team Leader / 5000
Support*
Position / Referral Amount**
Officer / 1500
Sr. Officer / 2500
Assistant Manager/ Team Leader / 3500
Manager / Sr. Manager / 5000

*Amounts are subject to change. Intimation for the same will be made on IWIN. For senior positions not mentioned in the above table, special schemes will be initiated on IWIN.

**Taxes as Applicable

  1. REFERRAL PROCEDURE (IN DETAIL): refer Annexure 1

Sr. No. / Activity / Responsibility
Refer candidate by sending the resume to ‘’ with all your personal details (including full name, dept. and employee code) / Referring Employee
All the referred candidates will be reviewed bythe Recruitment Team / Central Recruitment Team
Interviews will be organized by the recruitment team / Local Recruitment Person
If the referred candidate is selected the employee will be intimated through a mail from the recruitment team / Local Recruitment Person
A record of all such employees will be maintained by Recruitment Team / Central Recruitment Team
On completion of three months the employee will send the duly filled Incentive Claim form (refer Annexure-2) (with required approvals) to the Central Recruitment Team / Referring Employee
Central Recruitment (after necessary checks) will send the form to accounts department to release the incentive / Central Recruitment Team
Accounts department will process the incentive claim within 7 days of receiving the form from Recruitment Team. Amount will be credited to the account of the referring employee. / Accounts Department
November 15, 2018 / For Internal Use Only / Page 1 of 4

Employee Referral Policy

Annexure 1 - Process Flow Diagram


Annexure 2–Incentive Claim Form

EMPLOYEE REFERRAL - INCENTIVE CLAIM FORM

Name of Referring Employee: ______

Employee Code No. ______

Department: ______

Designation: ______

Details of Candidate Referred:

Employee
Code / Names of Referrals / Designation / Department / Dateof Joining / Days completed

Date: ______Signature of Referring Employee: ______

HR Approval:

Name of HR Representative: ______Date: ______

Amount: ______

Designation:______Signature: ______

November 15, 2018 / For Internal Use Only / Page 1 of 4