FOR IMMEDIATE RELEASE
This week, LinkedIn releases latest diversity report, Thoughtworks wins Top Companies for Women Technologists award, PepsiCo CEO talks diversity hiring, and more.
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.
How long do you spend managing and qualifying employee referrals? The process can definitely be time-consuming and can feel rather daunting, especially when you have a huge volume of great names coming your way while trying to juggle everything else on your plate.
Managing and qualifying employee connections doesn’t have to be a painful process. Read the following tips to see how you can free up more time for yourself and bring in more high-quality leads.
What percentage of your hires come from employee referrals? 50% should be your goal, but if you are like most organizations, there's a huge chance that you're under that.
The benefits of hiring 50%+ by referrals are enormous: you’ll speed up time-to-hire, increase retention, and ultimately end up with happier and more motivated employees. After all, each employee you hire by referral saves you $8,975. Here's how you can double your employee hires.
Every recruiter knows that hiring top employee connections is valuable, but just how valuable? Check out the statistics below.
Let’s face it: identifying, engaging, and hiring great people is hard work.
What are the top things you look for when you’re sourcing candidates? If specific hard skills, certifications, degrees, or other keywords are on the list — I'd challenge you to reconsider sourcing for great people, not great keywords.