When it comes to hiring the most suitable candidate for a specific position, your employees can be a fruitful source for quality references or referrals to filling up the position appropriately and quickly. Recommending or referring candidates for jobs is an age-old practice that is considered as a valuable and credible way to hire for immediate opened positions. This medium is still utilized for hiring purposes where internal employees play a significant role for referring candidates and helping their companies hire without spending much time and resources.
Those who believe that recommendations would bring more reliable and suitable employees have a good news! The medium has become more effective with the dawn of the internet where SaaS (Software as a Service) based tools are taking the process of hiring to another level. It has made the process much quicker and easier.
Consider the Figures
A study shows that a huge percentage of India Inc has already prepared to the potential of referrals.
The percentage of hiring through referrals may touch 50 per cent mark in the coming years. Research reveals there is a connection between highly engaged workforces and the number of referrals they provide. The following points would help you know some more facts:
- Sales is one of the leading departments where employees are hired through referrals.
- An average employee has 150 contacts on social media networks. It means 15,000 contacts if a company has 100 employees.
- Highest applicant to hire conversion rate – 40%.
- Referral hires have greater job satisfaction – 46% stay over 1 year, 45% over 2 years and 47% over 3 years.
- 67% of employers and recruiters believe it shortens the recruitment process, and 51% feels it is less expensive.
CareerBuilder – SocialReferral
CareerBuilder India introduces “SocialReferral” – a SaaS based tool that is keeping the pulses of ‘hiring-through-recommendations’ alive which is of course a highly-reliable way as far as recruitment is concerned. The tool has made the referring smarter and is uniquely rewarding. SocialReferral allows employees to share available jobs over multiple integrated social channels through which people connected to you get aware about the same.
Importing Jobs from ATS
Whenever any job opens up, SocialReferrals imports jobs from your ATS directly or the Candidate Sourcing Platform or through Broadbean technology. It means you will always be aware about the open positions in your company.
Tracking the Record & Analytics
With this tool, both employees and employers are able to track the referrals through the embedded Job ID and Employee ID. It means it helps you knowing which candidate is referred by which employees. Comprehensive analytics provide a clear view of all the significant social referral data.
Identifying best Ambassadors
If you refer candidates for your company, you are an ambassadors for them. If your references are proving to be worthy for them, you and your company should be knowing it. The tool helps you see the best ambassador per department and location.
Sending Applications Immediately
If a candidate gets the referral link, he/she can apply through it within SocialReferrals or on career page. The simple interface allows the candidate to easily fill the requirements and send the application easily.
Take the advantage of referrals if you are looking for reliable employees and filling up the position on an immediate basis. It fetches results 30% faster than other platforms where candidates apply for the available positions. As candidates are referred by your employees, it creates a bridge of reliability among the candidates, existing employees and employers. On the other hand, it is one of the best ways to reward employees for their efforts. It motivates them for future recommendations and encourages in overall responsibilities towards their companies.