Innovative App Blends Gamification and Social Media to Enhance Employee Referral Programs
SAN FRANCISCO, CA – Findly, the social recruiting market leader, today announced the launch of Swarm, a next-generation employee referral solution that leverages the growing power of social media, collaboration and gamification in connecting with top talent. With this latest offering, the company has reinvented the referral process to make it easier and more transparent, while ensuring recruiters gain access to candidates that can make a positive impact on their organizations.
Employee referral programs are one of the most effective methods for recruiting talent. According to research by Dr. John Sullivan and Associates, referrals provide the top applicant-to-hire ratio of all sources, a rate of one out of three applicants for top-performing firms. In addition, referrals have the fastest speed to hire of all candidate sources, and referred employees tend to stay in their positions longer than candidates hired through other methods. Despite the benefits of referral programs, though, they can be hard to manage, employees often forget about them and key executives with extensive professional networks typically don’t participate. Employees, particularly those on management teams, might avoid referring friends due to a lack of visibility common in many referral programs or the fear that their referrals won’t be responded to in a timely matter. As such instances can be embarrassing for the employee and damage their relationships, referral programs often falter.
Recognizing the need for an improved referral program — one that continually motivates employees at all levels to recommend their connections for key positions — Findly developed Swarm to increase participation and improve the quality and frequency of referral-based hires.
Through Swarm, the referral program becomes a collaborative, social process, whereby teams of employees compete against each other to fill positions. By bringing gamification into the referral process, with employees receiving awards for each successful hire, Swarm encourages regular participation and keeps employees more engaged. The solution also brings greater simplicity to the process through a “supply and demand” algorithm that ensures recruiters receive referrals for only positions they need help filling and lets them scale the program based on seasonal needs and changing hiring volumes. It also enables them to maximize program effectiveness by encouraging employees with track records of quality referrals to contribute more often.
Other key benefits of Swarm include:
- Reduced Costs – Swarm optimizes occurrences of pay by providing social rewards for employees who refer the most successful hires, while still providing payments for those positions that are truly hard to fill. This way, referrals are no longer just about receiving bonuses, becoming a fun and personally and socially rewarding process instead.
- Executive Participation – As executives can be very protective of their networks and their personal reputations, Swarm’s transparent process ensures their relationships will be protected and, with full transparency, all parties can see the current status of the referral. The solution also addresses the challenge of paying executives for referrals, by enabling them to play alongside other employees to win the social rewards.
- Build Talent Network – As employees join the Swarm program, they are added to the company’s Findly Talent Hive as internal candidates, helping to establish an effective internal mobility program. In addition, their referrals are also added to the Talent Hive as warm candidate leads.
- Social and Mobile Capabilities – Employees can access Swarm from anywhere and any time on their mobile devices, and they can sign in and make referrals from any social network.
“Employee referrals are one of the best and most cost-effective methods for finding talent, yet many programs fail to keep employees engaged and committed to helping the company fill key positions,” said Jason Kerr, founder and CTO of Findly. “In creating Swarm, we have reinvigorated the referral process to encourage employees at all levels to participate. The end result is a robust referral program that enables organizations to improve their culture, hire qualified candidates faster and grow their bottom line profitability.”
Findly is On Demand Talent. We help companies instantly hire the right person at the push of a button through a revolutionary automated talent platform that acquires, manages, screens and engages only warm candidates. Built for the next-generation mobile workforce, Findly offers an automated, self-sustaining solution that helps identify quality candidates so companies can access the right talent when they need it. Learn more at http://www.findly.com.