The current state of play
Referrals are consistently proven to be one of the best sources of hire in terms of cost, quality and long-term performance in a role.
For this reason, nearly every organisation has some sort of referral programme designed to enable employees to help identify potential hires from their own personal networks.
But there are some obvious challenges from the typical approach taken.
A process that is built around live jobs, hence eliminating two thirds of the potential audience who may simply not be right for the job on offer – but completely right for the business.
A process that is manual and decentralised, leading to disputes and, worse, a lack of compliance with data protection legislation
A process that does not deliver results over long periods of time, mainly because of a lack of engagement and ineffective incentives.
And that is just the start!
A bit of science
Many people will have heard of “gamification” and how it can be used to motivate users to perform tasks via targeted rewards. The topic has since fallen a little out of favour, probably because it was over-hyped in the first place, but the underlying science of how game mechanics work to promote activity is still sound.
We won’t get into too much detail, there is plenty of research and information out there, but the key things which help drive activity are:
Autonomy: giving the user as much control as possible about how they perform a task
Rewards: giving the user a sense that what they are doing is valuable
Levels: giving the user a sense of progress, either against targets or in comparison to their peers.
A couple of other things to add to the mix.
Bounties aren’t ’t always the answer. Firstly, financial rewards are often not that effective, especially if they are too tied to an employee’s salary. Early feedback is vital.
Secondly, because a lot of the effects are due to short term dopamine hits to the brain things need to happen quickly or the effect is lost.
Hollaroo Refer is built on our engagement, communication and relationship building platform so there are many more touch points with users, both employees and talent. This interaction happens over a long period of time and covers the whole relationship from introduction to hire.
In addition, all activity is continuously tracked and this data can be used to drive feedback and rewards.
All of these stages could be used to trigger rewards, both financial and non-financial. The system gives immediate feedback when, for example, an invitation is successful so employees are constantly encouraged to do more. You can also combine results across teams, departments and business units in the spirit of healthy competition!
In addition, you can promote and reward non-traditional activities like two employees combining to persuade a common contact to join or the referrer helping to maintain enthusiasm throughout and encouraging offer acceptance. You have complete visibility over the entire process so can design the scheme to best work for you.
A fresh approach
Using Hollaroo Refer is proven to deliver a five-fold increase in referrals, a 75% acceptance rate into your talent community and a quality pipeline of talent where one in four applicants are hired.
By allowing referrals to the brand rather than a job, tracking and ensuring GDPR compliance and automating long-term engagement with both employees and talent. Hollaroo Refer is a platform that enables this and has been proven to deliver over many years.
You can use the advanced tracking and analytics capabilities of the Hollaroo Refer platform to design an employee referral programme that incentivises a permanently high level of referrals through the use of gamification techniques.
We then completely automate the key elements to a successful referral programme, communications and feedback, so the programme continues to deliver, year after year.
The Hollaroo Way
Hollaroo is a talent engagement platform enabling you to leverage the power of anytime referrals, create pipelines of the best future talent, on-board new hires and create communities to manage your succession planning approach.
We create seamless engagement by helping organisations to build a destination point for future candidates, referred talent, alumni networks, diverse groups, graduates and your own employee teams.
Imagine a world where you can stay connected to all the great talent your company has ever met and all the great talent you ever will meet.
At Hollaroo we help your organisation find and connect with people in order to grow relationships and deliver value. Hollaroo networks can help you make better hires, tap into sources of knowledge and grow your business.
We do away with one-way communications and transactional processes, taking you on a journey to a more ‘human’ way of interacting, whether during talent acquisition, onboarding or maintaining relationships for the future.
Better still, imagine a world where you can empower all those people as brand advocates to introduce even more great talent to your organisation.
Hollaroo puts you in control of your own candidate engagement with your brand values at its heart. Connecting you to the right talent at the right time to bridge the talent gap and transform your recruitment.