Employers: The Recruiting Strategy That You Should be Investing In!
The talent shortage has forced employers to try numerous recruiting strategies to search for workers who will impact their companies. What most employers are finding is there is no silver bullet. Employers are using more recruiting resources than ever to find talent, costing an extraordinary amount of time and money. Last month, we presented seven recruiting strategies employers started using during Covid that they are keeping forever. One of the strategies is employee referrals.
The source of hires is all over the place for most employers. Employee and internal referrals are near the top of almost all surveys from applicant-tracking companies that measure millions of applications. With so many resignations and candidate migrations to remote jobs, current employees were promoted in record numbers to new positions within their own companies. Internally, employers had no choice but to promote their own talent. Employers are also finding out that hiring internally is helping dramatically with employee retention.
Employers surveyed also have ratcheted up their employer referral programs and found some great results.
ERP programs have been around since the beginning of time, but many of these programs needed a lot of tender loving care and hand-holding to get current employees to participate. Companies today that are having success are using technology and even gamification to maximize returns in the form of hires.
ERP programs have become high-tech. Each product has different bells and whistles, but ultimately, they have designed powerful ways for your employees to share your open jobs with their friends and manage the entire process. If done right, ERPs make your current employees ambassadors for your employment brand; that is like unlimited internal recruiters spreading the word every day!
ERP works by giving your employees a way to share jobs via many mediums. This includes texts, emails, most social platforms, WhatsApp, LinkedIn and more. Anyone who clicks on their link, applies, and gets hired, the technology knows what employee shared post was the source. It will then automatically reward the employee at the predetermined amount. Companies that adopted ERP programs saw their hires increase from referrals between 20% and 40%. That is a lot of hires!
Here are some ERPs that employers are using:
This reason many employers like this product is that it is super easy to use. Your employees can quickly share jobs and get rewarded with very little work.
Boon gets high marks for easy set up for both the employer and employees. The dashboard is one of the best in the business and can help employers maximize the ERP program and make it fun for their employees.
Gives employers a way to use technology to help employee refer candidates. Integrated with ATS. “Teamable combines candidate skill and diversity data so you can search your network to find the right fit, pick the strongest connection, and get introduced -- all in one click”.
Very employee friendly keeping all employees up to date on job openings and a very quick way to share these jobs. Another cool feature is it can alert people that may qualify in the person that was referred network. This is AI driven. Pretty cool.
This ERP features one click referrals and outstanding tracking for both the employee and employer. It stores all referrals so when future jobs surface, it will source potential candidates from this group.
These are just some programs that are available, and the were also mentioned in our survey. There is a cost associated with all these programs, but it is minimal when you can expect a 20%-40% increase in hires directly related to these programs.