hiring starts with referals
TRANSCRIPT
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“In a candidate-driven market, your top employees are the most effective
finding, relationship-building, and selling tool that you have” Dr John Sullivan
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The Case For Referrals.
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1. More Efficient
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2. More Effective
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3. Cheaper
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4. Targets Passive Candidates
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5. Reduces Turnover
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What’s the difference?
TraditionalRecruiting
EmployeeReferrals
Recruiting cost $4285-18000 $1000 or less
Hire Rate 1 in 10 1 in 3
Time to Placement 39-45 days 29 days
Retention after 2 years
20% 45%
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How can we increase referrals?
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Step 1
Audit
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❑ Referrals vs Other
❑ Applicant to hire/interview ratio
❑ % of employees actively engaged
❑ Team or department specific?
❑ Open rate on company comms
❑ Spend
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Net Promoter Score
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Step 2
Target
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❑ Volume >50% of all hires
❑ 30% of top performers participate
❑ <10% are low quality referrals
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Step 3
Design
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Referrals were drying up.
Referrals weredrying up
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Offer More CASH!Offer MORE Cash
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Oh…Oh…
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Referential Treatment
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❑ 48 hour follow up
❑ DON’T make the referrer jump through hoops
❑ Lead with a conversation
❑ Regular feedback
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Oh…Hmm…
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AIDED RECALL
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Proactively target your top performers and ask them to identify the top 5 people that they know in their field.
• Highest biller• Team player• Problem solver• Creative• Manager
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Ask
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Stop SPAM
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Do target top performers
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• References
Recognition
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Step 4
Relaunch
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❑ Prioritise jobs ❑ Involve hiring managers ❑ Input from new hires
❑ Extend to ‘friends and family of the firm’
❑ GO BIG
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“Hire-a-thon”
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Successful case studies:
❑ Mulesoft800 referrals, 135 interviewed, 12 hires and counting.
❑ Sky betting + gaming 600 employees took part
90 hires10 CVs within first 8 minutes90 by the end of the day
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Final thoughts…
1. Create an exceptional experience, particularly for the employee/referrer.
2. Promote the program consistently and extensively across the organisation.
3. Regularly analyse results to make improvements.