This powerful solution builds off the benefits of traditional referral programs while upgrading the experience for today's culture-driven workplaces and socially-connected world.
"In today's competitive labor market, employers are seeking ways to stand out and highlight their unique corporate culture as proven way to improve their recruitment and retention efforts," said Irina Novoselsky, CEO of CareerBuilder. "SocialReferral harnesses the power of this strategy in a seamless and familiar experience that employees will enjoy using. The tool has shown positive impacts for European-based clients, including ENGIE IT, a French-based IT subsidiary of ENGIE, which experienced a more than 250% increase in referrals after integrating SocialReferral. This is the opportune time to build on the offerings in our Talent Acquisition Suite, providing our US-based clients with added capabilities that support retention efforts and empower all employees to serve as authentic brand ambassadors and recruiters."
SocialReferral brings the connectivity and community-building power of social media to the workplace, creating a dedicated space for colleagues to celebrate their corporate culture with each other, offer encouragement and recognize milestones and success. Because it is built like other social networks, SocialReferral is easy to adapt and increases engagement from day one. Through connection to other social network channels, employees can easily share job postings at their company with their extended personal networks, encouraging others to be a part of their organization.
Employee referrals are crucial to bringing in high quality, pre-vetted candidates faster and at a lower cost than traditional hiring. In fact, referrals turn candidates into hires about 55% faster and those hires have a significantly longer retention rate. By leveraging SocialReferral, companies are not only expanding the number of potential candidates reached with each open role, but their open roles are also being seen by the right type of candidate.
Additionally, when an employee shares content about their company, it receives 800% more engagement than content shared by brand channels and is shared 25 times as often.
In addition to giving companies a competitive edge with the introduction of SocialReferral, CareerBuilder is releasing new features to other products in its Talent Acquisition Suite including its Talent Discovery Platform. Updates include expanded privacy and security features, advancements to the Candidate Appeal Score tool with an even greater focus on diversity, and additional customization options throughout the platform. Companies and job seekers will also value the enhanced communication tools that allow personalized communications paths via text message to make the relationship between candidate and recruiter natural and seamless.