1019 HM Amsterdam
Market Segment(Online) Recruitment
Referralrecruitment is a global online social recruitment site that facilitates a job referral reward service for individuals or organizations seeking employees and offering a referral reward (recruiters), individuals or organizations seeking to help others finding employees (and employment) and receiving a referral reward (referrers), and individuals seeking employment (candidates). The site has a network of members made up of recruiters (hirers looking to hire), referrers (recommenders earning rewards), and candidates (job seekers looking for a job).
Referralrecruitment is a social recruitment tool as it connects recruiters with candidates, who are recommended by referrers (employees, family, friends, acquaintances), via online word of mouth.
Referralrecruitment is the cost-effective sourcing and recruitment tool that utilizes and monetizes the power of referral hiring and social networking that converts trusted social networks, who know best, into motivated search parties for hiring where everybody wins: recruiters find the best candidate for the job, referrers recommend the right candidate and earn rewards, candidates get a great job, and Referralrecruitment earns a small fee. The cash reward based referral hiring tool enables recruiters to tap into and leverage their personal, professional, and if desired as well public contacts, to find quality job candidates and build a talent pipeline by posting jobs and offering cash referral rewards for their participation in the candidate search. When a candidate is hired, the successful referrers, acting as engaged (part-time) headhunters, earn all of or share the referral reward.
Referralrecruitment enhances the concept of a (sourcing tool number one) private employee referral program and, if desired in combination with, a public job board through streamlining and managing the traditional and proven practise of referral hiring. Referralrecruitment holds the technology for facilitating, tracking, and managing personal referrals as it passes from person-to-person, possibly with multiple degrees of separation, via electronic messages like e-mail, social media and identifies the chain of referrers taking part in the hire so that the cash incentive offered (no cure no pay) by the recruiter can be appropriately rewarded to the referrer(s) in the successful referral path of the hired candidate. Referralrecruitment is turning the social web into a real referral engine for measurable recruiting outcomes.
Referral recruitment is the number one proven recruitment method and Referralrecruitment is the proven tool to use as: it reduces the cost of hire (low cost), it decreases the time to hire (fast), it increases the quality of hire (best) and it is easy to use (easy).
Employers cite personal referrals as the primary and preferred method of recruiting quality candidates. Although it's estimated that 45-50% of all hires are referrals, this process is entirely ad hoc. The referral hiring process in most organizations is a mess and Referralrecruitment brings order to the chaos.
Only in the US there are at least 55 million hiring situations annually of which on average 45% made through referrals. In the EU there are at least 85 million hiring situations annually of which on average 50% made through referrals.
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