If you limit yourself to an in-house referral program, you’re neglecting the majority of talent in your network As we’ve written about before, employee referrals are a valuable, powerful tool for building teams. There are several types of employee referrals, and companies with referral programs have higher retention rates and…
Forward-thinking companies leverage their entire referral network.
Hiring is the top challenge for startups and Fortune 500 companies alike.
Thinking about hiring in a holistic way through referral networks can help you win at employer branding, recruitment marketing, and referral hiring.
What is a referral network?
A company’s referral network is the collection of social and professional networks of their team and community.
Employer Brands are a measure of employee success
Just like good product brands come through happy customers, good employer brands come through happy employees.
Referrals don’t just make good hires, they make successful employees. The virtuous cycle of successful employees and referrals is at the heart of your employer brand.
Recruitment marketing happens in your community
More than the actual events you host, the email campaigns and ad campaigns you put out, the real marketing for your company is happening when community members are talking about working at your company.
Every product marketer’s dream is organic customer referrals through the community around the product. Every recruitment marketer’s dream is organic candidate referrals through the community around the company.
This community can significantly amplify your reach and candidate referrals by an order of magnitude.
Referral networks create a strategic and scalable virtuous cycle of hiring.
PS: If you’re interested in technology that can help you unlock your referral network, check out Drafted 🙂