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For the last decade, sourcing has worked like this:
- Start with 400 million candidates.
- Filter aggressively until that number seems manageable.
- Lob messages into the abyss.
It’s not a perfect system.
Before getting into how referral hiring programs work, let's first talk about their goals:
- To hire great people efficiently
- To engage and retain your current and new employees
Now that we have goals established, we want to design the easiest way to achieve them. We've found the following three components to be the most important elements of a successful referral program:
- Make it easy for employees
- Use simple, altrustic incentives
- Write great, short emails
This is the way great tech companies like Facebook and Google do it — they’ve cut out the unnecessary fluffy benefits, and identified the core need: an efficient way to recruit the best candidates.
43% of jobs are filled in the first 30 days, but the other 57% are likely to stay open for 3 or more months. Leaving a position vacant for 60-90 days is detrimental to your bottom line.
Tech companies take hiring very seriously, but the hiring process can usually be a long and tedious one. Facebook uses something they call the "Ninja Hunt" — a quick practice that allows recruiters to build a database of top talent.