interbiznet.com
LIST OF TECHNICAL RECRUITERS interbiznet BOOKCLUB interbiznet
|
| ERN | Bugler | The Blogs | Blogroll | Advertise | Archives |
Download Authoria's complimentary white paper
- Staffing Strategies: Can You Find, Recruit, and Retain the Talent You Need?
Referrals Don't Work II Hi
John, I
assume that you meant H3.com by "various other entrants have gone
astonishingly quiet"? Fair enough, right or wrong we do not believe in one
press release per month, but such radio silence does not at all mean that we
have abandoned the referral recruitment path. On the contrary. We're
still consciously and happily focused on just referrals, and unlike Fidel
Castro, we have good reasons to stick to a model that the rest of the world
has reportedly dropped!
"Referrals don't work" = REFERRALS ARE WORK Traditionally
there are two recruitment methods that are entirely based on referrals: the
3rd party recruitment industry and Employee Referral programs. Together
they fill 30% to 40% of the 50 million+ hiring situations that occur in the
USA every year. In
view of the impending labor market deterioration, two things are obvious to
us: the 3rd party recruiting industry couldn't scale up enough
even if employers could afford to press this very effective but also very
expensive "easy button" all the time. Companies that are not good at
leveraging all networks (including employees) , i.e. have poor performing
ERP programs better get their act together or they will die on the field of
talent acquisition. "No
input from candidates" There
has always been a remarkable discrepancy between percentage share (30% to
40% of external hires) referrals as reported by employers and what employees
state as how they found their current job: 60% of people state "I found my
job through a referral of sorts". (Prof. Granovetter of Stanford Univ.) Not
even a million dollar ATS system can fix this direct marketing ROI analysis
problem. Reasons are simple: employers have no choice but to deploy multiple
recruitment methods simultaneously, and it's very likely that your
neighbor's brother-in-law you met at a BBQ told you his company is hiring,
so you went to their company website and submitted your resume. That's a
referral hire. Why
is H3.com happily continuing to focus on referrals? H3.com
is a recruiting tool that converts your social network into motivated search
parties. Our methodology is simple: offer a cash reward to be shared across
the referral path regardless if referrers are employees or not, and we'll
handle tracking and disbursement.
Sourcers and 3rd party recruiters totally get this, and are
excited by the notion of leveraging their social networks in the broadest
sense. They like the prospect of "making the request significantly more
impactful and elevating the request for referrals from a unilateral favor
into a bilateral business opportunity" (Shally Steckerl in his white paper
on Power of Referral Hiring, available at h3.com site). Sourcers from as
many as 300 organizations, including many Fortune 1,000 companies, have made
H3.com another personal sourcing tool in their (dare I say it Web 2.0) tool
box. Their
bosses, mostly HR generalists, often need more time to get their minds
around the H3.com paradigm shift which is bigger in their eyes than in the
eyes of recruiters. Comprehensive ERP programs in large companies (which in
reality are recommendation rather than referral programs in today's world of
LinkedIn, Myspace etc.) will not change overnight into open social network
based cash referral reward programs yet. But
H3.com has proven that referrals do work:
Needless to say we're happy to hear from you that others have abandoned this
path… John Sumser © TwoColorHat. All Rights Reserved.
Experience.com
Target - your ideal candidates, by school, major, location & more. Brand - your company as the place where they want to work. Learn - about the candidates you want to hire & how to reach them.
| ERN | Bugler | The Blogs | Advertise with Us | Trends | Archives | |
Electronic Recruiting News
FEATURES:
RESOURCES:
ADVERTISING:
|