The Value of Referrals

Total views: 1760 In today’s recruitment market, employers are overwhelmed with the number of direct applications they receive and the number of methods they have to advertise for candidates.  It is therefore of great importance for an applicant to differentiate themselves from the masses. 

It’s not what you know….
The old adage remains true even in the world of social media.  If you are applying to a large company or corporation is there anybody already employed by them that could refer you to the department that you are looking to join?  Many companies have a referral scheme that pays a bonus to an employee that refers an applicant who is then successfully employed by the company.  That could be you!  Is there a friend, contact, acquaintance whom you could approach?  They should be jumping at the chance to put your name forward.  Each time HR departments use recruitment consultants they have to pay a fee.  Referrals keep their costs down, so they will look favourably on such applications. 

Recruitment Consultants should also be interested in referrals.  A referred candidate is of great value to consultancies because they implicitly come with a recommendation from a previous candidate and were they to place a referred person in a job their own brand and reputation grows.  Many consultancies have incentive schemes to encourage this.  For example GR Law (part of the GR Recruitment Group) offers £300 to any person who refers an applicant to them who is then successfully placed in a role.   

This method of recruitment isn’t new.  As long ago as 1973 Mark S Granovetter of John Hopkins University completed a study based in Boston in which he found that even 30+ years ago, referrals for jobs was an increasingly important part of the job market.  For more information on this study please use the following link:   http://recruitingfuture.com/2010/04/14/a-golden-age-of-referral-recruitment/