Referral Schemes—Just Another Gimmick?

Job boards could be losing it. There are 2 surveys out there that tell us that. CareerXRoads found that referrals accounted for 28% of hires compared to just 20.1% for job boards. In another study, Jobvite report even more dismal results that said that referrals account for 40% of hires and jobs boards for just 15%.

So we know that Referral Schemes work. But how can we better leverage it? Is there any way to cast our nets wider? Perhaps expand the referral scheme outside of our organisation?

Yes. There is. We know that referrals work, so imagine this:

Think about social media, think about the potential reach that it has. From there, create a job post and share it all your connections, whether on Facebook, LinkedIn or even Twitter or any other social media platform.

Think about empowering anyone out there to refer to you (with a cash reward of course) anyone that they know that might fit your role. What you have effectively created is a referral scheme that gives you the reach of social media and you control who you want to see and the amount you pay for this “advertising” as well.

Of course, if reward is attractive enough, you will get the referrals. How then can you manage the process?

Check out the Bounty Search here.


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