In the previous two articles I looked at the value of referrals to agency recruiters, as well as what kind of factors inhibit recruiters from generating referrals. In this post, after looking at problems with traditional referral generation processes, I will look at how Referable works to make referrals easy.
What is Referable?
Referable is a referral generation platform that makes referrals easy. It does this through the following steps:
- Match: Referable matches millions of candidate profiles and automatically populates Long Lists so that the recruiter can quickly screen the most appropriate profiles for Short Listing.
- Share: The recruiter can then build and share private Shortlists of prospects with referrers.
- Qualify: The referrer can quickly recognise who they know and qualify referrals or recommendations in just a few clicks, without logging in, on any device, and in whatever language their browser is set.
In short, recruiters or their sourcing colleagues build long lists, which are screened down to shortlists. Shortlists are shared with referrers who “qualify” the candidates as “referable” or not. It takes just a few clicks for referrers to complete their role, which gives a huge time saving to productive people.
Using our worst case scenario the referrer can save up to 20X of their time than a normal targeted referral process.
Our Value Proposition
1. Simplicity
The entire collaboration process is both intuitive and fast. As an example of how easy it is, when testing the collaboration features of the app with a customer, they had replied with confirmation of 6 out of 10 prospects being “referable” before I had even finished explaining what to do. Literally in the space of a minute (if not seconds!) we had 6 referrals via a WhatsApp chat. Other customers experienced multiple referrals within the first hour of using the app! It is that easy.
Referable gives the recruiter a potential 4X gain in sourcing time – on top of the gains made with Long List automation.
2. Referrer Time Saving
There are significant games to be had by automating the Long List process and by simplifying collaboration. With Referable there is no need for referrers to join a meeting and lose precious time – making it ideal for highly productive people to contribute. For agency recruiters this is obvious, but imagine for in-house corporate recruiters who might drag 100 people into 30 minute meetings to go over lists? That is 50 hours of lost productivity!! Most business stakeholders won’t tolerate that and for many employees they may comply once out of courtesy, but expect enthusiasm to decline.
It can take a referrer less than 1 minute to submit their referrals using Referable. Let’s say that worst case a referrer adds detailed comments and manually adds a few extra recommendations, which takes them 5 minutes. Compare this to having to prepare for and join a physical meeting or online call with a recruiter to go over candidate lists. That kind of process usually takes up to an hour, which would make Referable up to 60X faster for the referrer. Using our worst case scenario the referrer can save up to 20X of their time than a normal targeted referral process.
3. Recruiter Time Saving
From the perspective of referrers we can see the time-saving, but there are also huge gains by recruiters to be found starting a search with high probability talent rather than by screening out false positives. Long Lists are automatically populated by Referable and while every shortlist is screened differently, overall user data suggests that for every 1 “referable” candidate there are 4 that are not. This means Referable gives the recruiter a potential 4X gain in sourcing time – on top of the gains made with Long List automation.
What would you do with more than 4 times more time made available to you? Close more jobs? Spend more time with family? How about a bit of both?
recruiters generate more stable revenues and strengthened client relationships!
4. Profitability
Referable makes the referral solicitation easy by providing shortlists for referrers to view, recognise and respond in only a few clicks. In many cases after seeing names of past colleagues, referrers recall other people who they can refer as well. More referrals mean more placements, and more placements mean better business. Whether you are an agency recruiter or a recruitment manager, more profitable or cost-effective business usually means bonus time!
5. Quality Outcomes
By leveraging collaborators to assist with the heavy lifting, Referable enables recruiters to bypass the Long List screening stage and go straight to Short Lists of pre-qualified talent. By zero’ing in on the kind of high value candidates that not only go deep into the interview process and make recruiters look good and get hired, recruiters generate more stable revenues and strengthened client or stakeholder relationships!
For clients seeking to increase diversity or to hire specific skills and experience, creating targeted shortlists for referrers to collaborate on is a no brainer. Delivering quality outcomes for your clients usually results in an upward spiral of opportunities where you can win more searches, and searches of higher quality. The bottom line is that success begets success, and all of this can be achieved by generating targeted referrals of high probability talent.
6. Data Security
With Referable everything is tracked and stored on a single secure platform hosted on Google Cloud. As there is no need for everyone to have their own spreadsheet or LinkedIn project folders, the risk of losing IP when recruiters move on is minimised. How many times have recruiting managers wailed over lost data when a disgruntled recruiter leaves nothing but a black hole in the CRM? With Referable this is no longer a concern.
7. Business Development
While executing more effectively due to increased referrals and higher quality candidates, Referable can also help build new services for the business. Having been initially designed for RPO recruiters, Referable has been adapted to give agency recruiters the tools to develop new services in referral program RPO delivery or collaborative executive search.
There are more benefits that come to mind, but in the interest of keeping this post concise we will leave it here.
Referable has been developed to make referrals easy. Built by a team with experience in executive search, RPO, in-house recruiting and HR tech, the Referable app helps both in-house and agency recruiters to target talent and solicit more referrals faster than ever. If you would like to learn more, drop us a line at hello(at)referable.ai
