Michael, this is fantastic insight on employee referral programs. I especially appreciate your advocacy for bonus payout on start date, which is what I’ve advised my clients to do, but rarely is it actually put into practice. My one nitpick is your framing the submission of “weak ties” as an absolute negative. The ideal of a referral program attracting the submission of known top performers with trusted, close relationships to employees need not be diluted by the careful allowance for the program to also “cast a wider net” (thus directly improving chances for a more diverse talent pool) by intelligently leveraging the aggregate of your employees’ social networks, including those weak ties. It is feasible, though not necessarily easy, to discourage spam submissions, while at the same time encouraging employees to reach out to the long tail of their many acquaintances, and then trust the interview process to ensure hiring quality. Thanks again.