How It Works For Recruiter

Recruiter like: HRM, P&O, recruitment agency, headhunter searches for the best candidates for jobs and offers a referral reward (no cure no pay) to referrers (equally shared) for each hired candidate per job. As a result Referralrecruitment reduces the cost of hire, decreases the time to hire, and increases the quality of hire, in particular latent hired candidates, possibly multiple degrees of separation across social networks.

• recruiter posts job(s) with reward(s) (no cure no pay) and finds the best candidate(s).
• referrer(s) refer(s) the hired candidate and earn(s) a referral reward (equally shared).
• candidate expresses interest and gets a great job.
• Referralrecruitment facilitates online recruitment via referrals and earns a small subscription fee and a referral success fee (only if a candidate is hired).

Summary:

• Recruiter registers on the Referralrecruitment site and receives the company subscription invoice via e-mail (within one business day):
  • subscription fee (for Referralrecruitment): EUR 250 (or equivalent) per subscription plan of 1 user for 6 months, unlimited job postings. Upon expiration of the subscription term, the subscription will be automatically renewed unless it is terminated before or on the end date of the subscription by the recruiter.
• Once registered, the recruiter is immediately active and may already posts job(s), customized in his/her own language, with a referral reward minimum of EUR 1,500 (or equivalent) per hired candidate, on the private job board and (if as well made public) on the public job board (optional) on the Referralrecruitment site.
  Upon job posting, the recruitment agency, or headhunter do not need to disclose the client's company name.
• Only after verification of: registration, job posting(s), and/or subscription (receipt payment), job posting(s) will appear open (from suspended) and displayed (within one business day) to express interest and/or refer to others.
• Once job posting(s) are open, the recruiter can create a personal referral e-mail message, customized in his/her own language including a job(s) referral track link to job posting(s), and sends/shares via his/her own personal (confidential) e-mail message application(s), by invitation only, further in his/her social network (employees, friends, acquaintances), and if as well made public, job(s) will be as well publicly displayed to the public network via the public job board on the Referralrecruitment site.
• Referralrecruitment keeps track of all referral paths of referrers which leads to candidates, possibly multiple degrees of separation across social networks, for all job postings by recruiters via a unique job(s) referral track link in the referral e-mail message once a user registers through the Referralrecruitment site in order to: post job(s), express interest in a job and/or refer job(s) to others who are candidates or who know good candidates.
• Referral path will only be shown once a user expresses interest resulting in a referral path of a candidate.
• Once the candidate (passive or active) expresses interest, only the recruiter receives also already notification. The candidate receives instructions for application from Referralrecruitment. The recruiter receives the application and resume directly from the candidate via his/her own personal (confidential) e-mail message application.
• Candidate's name and e-mail address will only be disclosed to referrer(s), in the same successful referral path, once the candidate is hired.
• Only if a referral leads to a hired candidate, the recruiter will receive the referral success invoice (no cure no pay), with invoice date that equals the start date of employment, via e-mail:
  • referral reward (for referrers): minimum EUR 1,500 (or equivalent) per hired candidate, equally shared among referrers in the first successful referral path of the hired candidate, distributed by Referralrecruitment to referrers upon payment receipt from the recruiter and 2 months after the start date of employment.
    Only a refund of the referral reward to the recruiter is applicable if the hired candidate has been employed less than 2 months and consequently rejected.
  • referral success fee (for Referralrecruitment): 25% of the referral reward, minimum EUR 750 (or equivalent), per hired candidate.
• Note: the recruiter is allowed to modify the referral reward between the date of posting and the date of hiring. This modification may only be an increase of the referral reward, all other related amounts will then also be updated accordingly.
• If the hired candidate did send a direct application to the recruiter (through Referralrecruitment) then no referral reward (for referrers) is applicable but only the referral success fee (for Referralrecruitment).
• Recruiter is obliged to keep the job posting such as the status of the job and the status of candidates up to date, in particular when the candidate status is hired.
  Other users need to indicate if statuses are not reflected up to date on the site. For example, referrer(s) need(s) to flag (being entitled to a) reward and the candidate needs to flag (being) hired if the candidate has been hired but has not been marked hired by the recruiter in the system.
• After a successful hired candidate, the recruiter may use the same job posting for additional/next hires. For each hired candidate per job posting, the referral success invoice is applicable.
• Recruiter may close the job posting at any time (e.g. because of a hire via the Referralrecruitment site, job position already filled in another way than via the site, or if no employee is needed anymore, provided there are no application procedures running anymore and consequently all existing candidates statuses have been updated/marked from interested to hired or rejected by the recruiter in the system.
• Examples of total expenses for the recruiter per successful hired candidate via Referralrecruitment:
  • If referral reward is EUR 3,200:
    referral reward (referrers) EUR 3,200 + referral success fee (Referralrecruitment) EUR 800; next to the subscription fee (Referralrecruitment) EUR 250 per 6 months.
  • If referral reward is USD 2,010:
    referral reward USD 2,010 + referral success fee USD 1,005; next to the subscription fee USD 335 per 6 months.
    (Assumption: currency exchange rate EUR/USD 1.34.)
• Note: all amounts excl. VAT.