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Employee Referral Wrapup.1 (May 04, 2006) One tool in a large kit, Employee referral programs get highlighted as the economy is cresting. Their visibility is a function of the acuteness of the labor shortage. With unemployment near or below 5% in many industrialized countries, it's no surprise that the referral option is coming to the forefront. Expect to hear amazing stories of the awards being given to program participants. This time round, the cars will be gas sippers, In California, we're going to see companies giving away hybrids. The dollars per hire in referral awards is going up. This is because recruiting is getting tougher. As things progress, the normal market forces will erode the meaning right out of the term "Employee Referral Program". Already, we're seeing bulk email processes only thinly disguised to earn their new "Referral Program" mantle. Somehow, someone you don't know can give a referral in these emerging processes. We're pretty sure that the basic idea is that referral programs are all about people you know and trust. We're also seeing high levels of stupidity in the jargon. Although the first letters of the words "Employee Referral Program" are in fact "ERP", only a moron would want the baggage associated with the acronym ERP. If you don't know (living in a closet in Fiji?), an ERP system is the massive Enterprise software installed by people like SAP and Oracle. Only someone with an HR background would try to brand something with a name that has connotations that negative. Underneath the hullabaloo, there is some very interesting stuff going on. While Jobster is building a black box that generates candidates, H3 is going down the laser focused R&D route. It will be useful to compare the progress of these two players over the next couple of months. For H3, the question is whether referral fees will continue past the economic peak. For Jobster, the question is how to make the expense side of their ledger come to terms with income. Two very different situations headed down a similar market path. The watching will be fun. Software backed or not, the Referral era is upon us. Here are some resources to help you sort out the network issues associated with Referrals.
Interesting note: CareerBuilder is shipping this bulk email to launch their .jobs consulting business. Stay tuned. John Sumser . - . Permalink . - . Today's Bugler As job boards multiply, so does the room for error. How will you determine the right sites for your jobs? Our free Webcast has the answers.
What: Free Webcast (earn 1.5 SHRM credits) Who: SmartPost and Bernard Hodes Group When: Thursday, May 11 / 12:00 PM - 1:30 PM ET Where: Register Online Visit smartpost.com
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