The Shyft Group Referral Bonus

The Shyft Group offers a referral bonus program designed to incentivize employees to refer qualified candidates for open positions, particularly in tech and product roles. Below is a detailed overview of the referral bonus program, including estimates and numbers based on current industry standards.

Referral Bonus Structure

Tech/Product Roles

• Software Engineers, Product Managers, Data Scientists: For high-demand roles such as software engineers, product managers, and data scientists, The Shyft Group offers a referral bonus of up to $5,000. This amount is competitive with industry standards, reflecting the specialized skills and impact these roles have on the company's success.

Other Roles

• Marketing, Sales, Operations: For other roles such as marketing specialists, sales associates, and operations managers, the referral bonus can range from $2,000 to $3,000. These roles are crucial to the company’s operations and growth, and the bonus is structured to attract top talent.

Eligibility and Payout

• Eligibility: All full-time employees are eligible to participate in the referral program. Referrals must be submitted through the company’s internal tracking system.
• Payout Schedule: The referral bonus is typically paid out in two installments:
  • 50% after the referred employee completes 90 days of employment.
  • 50% after the referred employee completes 6 months of employment.

Conditions

• The referred candidate must be hired for a full-time position and successfully complete the probationary period.
• The referring employee must be employed by The Shyft Group at the time of both bonus installments.
• Bonuses are subject to tax deductions as per federal and state regulations.

Benefits of the Referral Program

1. Encourages Employee Engagement: Employees become more engaged when they have a stake in the hiring process.
2. Enhances Company Culture: Hiring through referrals often leads to