Do you use LinkedIn to find new candidates for your company’s job openings? You’re in luck, because Careerify just joined LinkedIn to help you find the best prospective employees through social media.
Over the past 6 years, Careerify has built a powerful talent acquisition platform for managing employee referrals, internal mobility, and employer branding. But the Toronto startup is best known for pioneering “social recruiting”, which enables your existing employees to tap into their social networks and find new talent. Their tools scour online communities for individuals who would be the ideal fit for job openings at your company.
The product also directs current employees to other job openings at your firm. These two features help you achieve the important goals of onboarding and retaining your best employees.
It’s important to note that Careerify will no longer be taking on new customers. However, their tools will be integrated into LinkedIn over the next few months and eventually released to all LinkedIn users.
Why Employee Referrals Should Be Your Top Source For Job Candidates
In our hyperconnected world, employee referrals are the most efficient way to find the best candidates for a job. But why? The Undercover Recruiter created an infographic explaining why this phenomenon occurs:
- Social media enables you to build a long list of potential applicants through your employees
The average employee has 150 contacts on each of their social media networks. That means that if you have 10 employees, there’s a pool of at least 1000 connections that you can tap into to source new hires.
- Employee referrals have the highest applicant-to-hire conversion rate
- Applicants hired through a referral begin their jobs quicker than those found on a job board
- Referral hires have higher job satisfaction and stay longer at companies than those found elsewhere
- Most employers say the recruiting process was shorter for referral candidates
Careerify can improve your employee referral practices and expand your applicant pool with social media.
How Does Careerify’s Social Recruiting Tool Work?
Careerify’s software is built on the premise that the average online user has approximately 500 social media contacts across different online networks. Here’s how it works:
Careerify’s Social Employee Referrals program starts by understanding the social networks your employees use. To reach the highest number of qualified candidates, the tool analyzes your employees’ use of LinkedIn, Twitter, Facebook, and others to ensure you’re utilizing all available resources.
There’s also an education component. Your employees need to understand the benefits of Social Employee Referrals, such as increasing revenue and creating more opportunities for everyone at the company.
Once the social networks are identified, employees can send targeted messages to passive contacts. These personalized notes communicate why a person has been selected to apply for a job. The platform also allows you to track URLs with metrics like exposure and click through rates so you can see if candidates are opening your messages,
4 Ways To Increase Employee Referrals
While you’re waiting for LinkedIn to release Careerify’s tools to the world, there are 4 points you should keep in mind when developing your employee referral program:
- Makes your employees aware of the referral program
Your goal is to increase the number of qualified referrals. Be sure to provide employees with detailed guidelines on what you’re looking for in a new hire. Qualities like knowing the referral well and putting forward candidates with experience and passion are two examples of what you may want to include in your handbook.
- Treat employees as your most valuable resource
Many companies reward employees who refer a successful hire with monetary and non-monetary rewards, like trips or planned activities. It’s important to let your employees know that senior management truly appreciates their referral efforts and their actions will benefit the entire firm.
- Keep your referral program current
Infusing your referral program with creativity may increase your chance of success. Catchy language, personalized messages, videos, or even a song can make your outreach more appealing to potential hires.
- Implement probation periods for new hires
Your employees may be more likely to refer candidates if you implement a probation period, where you evaluate new hires for a defined period of time before they’re transitioned to a long-term contract. Employees don’t want to be blamed if one of their referrals is fired or performs so-so. A probation period insulates your employees from feeling any pressure if they refer a candidate who is hired, but turns out not to be a good fit for the company or role.
Although Careerify will not be taking on any new customers after the acquisition, they will be improving their technology and rolling it out through LinkedIn. Look out for new offerings from LinkedIn and be sure to try out their cutting-edge employee referral software.
Do you think LinkedIn’s employee referral software can help your company find and retain talent? Tell us what you think in the comments section below or tweet us @KabbageInc!