Some employers call references, some don't.
Personally, I call for every single job I fill (FYI - I'm in a private company and not in HR). I usually call references for the top 3 candidates to get a better feel for their performance. The results are:
Bad References - 50%
10% - Reference does not recommend person
20% - References didn't supervise / unfamiliar with persons job (work friends - not refernces)
10% - Reference suspicious - doesn't know what projects person worked on or job title (person likely has no real references)
10% - Unable to reach any references (and candidate doesn't have any more)
Good References - 50%
50% - Reference enthusiastic, knowledgeable and trusted
This means that out of my top 3, usually 1-2 make are removed by checking references. Put otherwise, I remove half of the dud hires I would have done without checking references, therefore teams are more highly talented and better fits.
Personally, with so many jobs right now, I'd be very cautious about a company that doesn't do reference checks. It likely means you'll be working with a lot of marginal talent.
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