Why do organizations not reward external people (like alumni, clients, followers) for referring company career opportunities to their friends/family, social networks and other channels? There are some companies that do but at TalentMinded, more often than not we uncover organizations that are just in the stages of perfecting their internal employee referral programs; they’re not even thinking out of the box!
Years ago I worked at a company that paid out rewards to what they called, ‘brand champions’. If you referred a new business opportunity and/or a candidate that was hired they would present you with a gift card of your choice. There were terms and conditions of course, but overall the success of the program was less about the monetary value of the reward (in this case it was usually $250.00) and more about the passion for the brand and recognizing fans for helping them succeed.
It was through programs and values like this that they built an engaged community of external brand champions that believed in the mission, cared about their success and always took the time to help. It was about building strong partnerships and relationships and it worked! The program was so successful in fact, it was like having another recruiter on their payroll!
These types of channel referral programs are not new to how businesses drive sales and revenue, so why are they virtually obsolete from how we attract and acquire new people to our companies?
Leveraging a company’s external reach to talent through broad social media networks and other spheres of influence is core to recruitment success in today’s digital world, especially for new start-ups. Much like a strong marketing program, to survive (or at least compete) companies must optimize all channels in the talent ‘ecosystem’ to drive awareness and ultimately create better quality, predictable talent pools.
We know the best candidates (and customers) come from referrals – inside and out – so we’re curious – what’s stopping companies from developing this type of external program to help access and reach the right people for their business?
We’d love to hear your successes, challenges and thoughts on external referral programs!
Comments welcome or reach out direct at email@example.com
Author: Kim Benedict, Managing Director/Co-founder, TalentMinded Inc. www.talentminded.ca