By Sunita Khatri
Studies continue to indicate one consistent message to hiring teams ? employee referrals garner the highest number of quality candidates in comparison to any other source. A referred candidate is 3 to 4 times more likely to be hired than someone who is not. And yet most companies are struggling to structure referral strategies that will sufficiently yield stronger candidate referral pipe.
Making Social as a Part of the Strategy
Good news is, this isn't a complex problem; it's a tremendous opportunity. Your employees, the ones you so carefully chose to invest in, represent a vast network of reach to other talented professionals outside of the organization. If superior talent is attracting high quality candidates, then it's critical for companies to become effective at influencing employees to refer. Older methods of employee referral programs which require far too much manual work on the part of recruiters and employees are now antiquated in today's digital world. Sourcing talent via existing talent can be effective if companies harness where employees spend most of their time ? the digital space. Digital networks have disrupted and redefined how people, whether active or passive, discover and engage in new employment opportunities. A responsive employee referral program is socially conscious and will ensure both referrers and seekers are connected. Here are top reasons why digitizing your referral programs is now a fundamental piece to your referral recruitment engine:
1. Social is a Personal and Professional Mix
Social sharing is a strong combination of personal and professional behaviors. The mainstream Social Networks, originally crafted for people to feel connected to others using personal experiences is now a major paradigm for almost everything we touch on the Web. If we enjoy an article, a funny video or learn vital information about how to be more effective in our jobs, it's now in our DNA to share that across our networks to A.) influence others and B.) build our own social profile. Every modern publication, whether an online magazine or a blog, will provide its readers the capabilities required to broadcast their learnings into their network. Conferences or events will leverage the use of hashtags as a means to gain followers and/or distribute useful information. So ultimately Twitter and/or Facebook is no longer a personal platform. This cross-pollination between personal and professional is inevitable and it's where your employees are spending their time. Their valuable networks, whether it would be Twitter or LinkedIn, are a social mix waiting to be tapped.
2. Job Seekers Find Jobs on Social Networks
In a recent study from the Aberdeen Group, 73% of job seekers in the age group of 18-34 found their last job via a Social Network. The millennial and Generation Z workforces have pioneered the social Web from influencing consumer behavior to pursuing a career move. In fact, for each time they make an influential tweet, post, comment or update across Social Networks, aggregation companies like ?Klout? will merit their participation on the web. This means the anti-social war on our employees will need to change. The idea that social is a deterrent for workforce productivity is a backwards concept. Social on the Web holds the power in finding more from the rich tapestry of personal and professional networking activity your employees are consumed in each day and has clearly demonstrated how people are finding jobs.
3. Your Employment Brand Depends On It
Digital media has become a showcase floor for brands all over the world. In fact, 63% of Marketers are slated to spend more on native advertising in 2015. Native placements are designed to integrate within the editorial content of a webpage. The relevance is even more striking as they have a 223% stronger impact on brand awareness than traditional ad units. Native advertising is a win for Marketers, but even a stronger win for HR. A track session on Social Sourcing at Oracle #HCMWorld in March shared apparent examples on how HR can be leveraging earned media as a result of the time and effort spent by Marketers. Marketing to customers is also an indirect ad campaign for establishing awareness levels of your employment brand and will become a negating factor on whether a job seeker will qualify your brand as a potential career move down the road. A candidate's appeal to your brand and/or product on Social Media as a customer will have a direct impact to your employee's referral message about a job opening.
Recruiting from within your organization boils down to one inherent factor ? trust. Your employees trust your brand, culture and organizational opportunities enough to pass along your job openings to their trusted network. The right social recruiting tool and the ease as to which they can do this within their Social Networks will be critical. Our latest whitepaper reviews the foundation you will need to eliminate current issues with your employee referral program and jumpstart an improved strategy which leverages and prioritizes Social Networking.