Most organizations hire 24% of employees via referrals. The ones with effective and scalable referral programs hire over 55% - thereby saving hundreds of thousands of dollars in hiring cost.
Hachi can supercharge your employee referral program, expand the reach of your recruitment drive - while making it super easy for your employees to refer - thereby, increasing the volume and velocity of employee referrals, and reducing your hiring cost significantly. Click here to find out how much you can save by improving your employee referral program.
Here's a quick explanation about why most employee referral programs don't scale, and how Hachi can help fix that.
Key reasons why employee referral programs don’t scale:
1. Employees are not aware of Job Openings
Employees are not even aware of all the current job opportunities available with their organization. Typically, they only know about few job openings in their own departments, but not the organization-wide positions. This makes it impossible for any type of referral program to work on a large scale.
2. Tedious Referral Process
Another obstacle that prevents employees from referring quality candidates is that many companies create a long and tedious referral process — one where employees must log into their employee portal, search for the job, find the job ID number, contact the friend they wish to refer and get his/her resume, and then upload the resume. While employees may be willing to do this for a family member or close friend, they are not likely to go through all this trouble for every qualified candidate they know.
3. Large Social Network
An average person has at least 1,000 connections (spread across various social and professional networks), and most people can only recall a small fraction of these contacts when asked. This means that your employee referral program is limited to just your employee’s inner circle of 15–20 friends and family members. Ultimately, this results in your company losing out on hundreds or even thousands of prospective top talent referrals just because your employees could not refer.
Your employee network is typically larger than you think. And you can potentially hire all (or most) new employees via referrals.
Hachi proactively recommends friends that your employees can refer for your job openings, making it super easy for them to refer.
- When you post a job, Hachi's candidate-matching algorithm (built on top of a deep data mining and machine learning platform) searches your employees’ network (their direct connections + their friends of friends on various social and professional networks), to find candidates best suited for the job.
- Employees receive a personalized email (see image below) with a list of potential candidates they can refer for your job openings.
- Employees can instantly make a referral by clicking “Refer” button in the “email”. They don’t need to log in to any portal, or try to remember which of their 1,000+ friends match the job requirement.
- If your team member allows team's recruiters to directly view candidate recommendations from her network, then the recruiters can view and shortlist candidates without waiting for the team member to refer.
Personalized Email Sent to Employees: