Welcome to Talent Tech Labs Lookback. We spend a lot of time exploring the Talent Acquisition Ecosystem and Marketplace and while every TTL Trends Report focuses on a different theme, we occasionally like to look back at some of our greatest hits.
Leveraging Technology to Harness the Power of Employee Referral Networks
While employee referrals are the best source of quality hires, finding an easy, efficient way to promote, capture, track and manage employee referrals is arguably the best source of hiring headaches.
Employee referrals account for a large part of quality hires. See how technology can help:
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That is the challenge that united RolePoint Co-Founders Kes Thygesen and Christopher Le Breton when they discovered that there was no real system or intelligence behind internal employee recommendations.
On the recruitment side, referrals were recorded on spreadsheets and a lot slipped through the cracks. On the internal marketing side, recruiters couldn’t communicate effectively with employees. Understanding the need for something better, Kes and Christopher founded RolePoint to revolutionize sourcing with an employee referral platform that allows organizations to capitalize on their best source of high-quality talent.
Talent Tech Labs asked RolePoint to share its insights on how technology enables effective employee referral systems.
Promoting transparency in communication
Employees today communicate more openly and rely on technology to do it with greater ease than ever before. With the rising use of enterprise collaboration tools and the growth of every employee’s personal and professional networks, referral platforms that can take advantage of these trends open up opportunities to strengthen the quantity and quality of employee referrals.
Adding transparency to the process by ensuring that communication is a two-way street is critical to this endeavor. One of the biggest problems with referral programs has always been the “black hole” that swallows referrals, rarely acknowledging the initial referral and even less frequently providing any type of follow up to the employee about the results. Worse yet is the potential damage that comes from an employer that ignores the referred candidate, calling into question the credibility of the referring employee. People understand the tremendous value to employers found in referrals, and a lack of transparency into the process and minimal or nonexistent communications from employers can cause negative repercussions that can spread well beyond a single employee. Leveraging technology helps companies track referrals back to employees to provide a better experience so they refer even more.
Providing ease of access to the referral platform on all devices
Innovative companies know how important it is to have mobile-accessible platforms. Employees want immediate access to information and resources, wherever they are, at any time of day or night. Providing them with the ability to initiate and track a referral on their mobile devices allows an employer to capture referrals when it is most convenient to the employee, whether the referral originates through an online or an in-person connection.
Don’t lose out on integral employee referrals. See how to leverage current technologies.
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Managing data by integrating referral technology solutions
A major problem facing many HR departments is the inability of multiple technologies and tools to interact and “speak” with each other. Logging into multiple systems, multiple times per day is inconvenient and inefficient. Integrating referral technology, plus other recruitment, engagement and hiring solutions in a single platform, such as an applicant tracking system, streamlines where candidates apply and recruiters spend their time, thereby enhancing both recruiter productivity and candidate experience. RolePoint, for example, is using critical data gathered by its integrated solutions to better understand how users interact with the system and how it can be continually improved.
As employee networks and the huge amounts of available data grow, so will the demand for a powerful referral technology solution. RolePoint is focused on interpreting that data to continue to create best-in-breed referral technology solutions.
Internal hires can provide truly integral members to your workforce. Don’t miss out on a strong employee due to a lack of facility in your internal hiring process. Leverage your employee networks with technology like RolePoint. Inspired yet? Want to discover more about investments, HR and talent acquisition? Head over to Talent Tech Labs website to get more industry insight and sign up for our blog. Want to explore more into TTL’s Think Tank and industry research? Download our latest trends reports and while you’re there jump into our series of trends reports covering topics from Real AI, Vendor Marketplace, Employer Branding and more!
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