Looking for your ideal post-MBA job? Bet on Referral Systems
Any HR executive will tell you that today’s job market is talent-driven. Faced with the first-ever generation that has benefited from the democratization of education worldwide, companies have tried to control recruitment costs while searching for ideal employees in a variety of ways. This blogpost explains what is and how you can explore the most effective among them: job referral systems.
What are Job Referral Systems (JRS)?
Job Referral Systems are formal programs that rely on companies’ employees to suggest candidates for job vacancies. Usually, HR informs employees of vacancies and outlines the profile of the perfect candidate before making them public online. Then, for a period of 3 to 6 months, employees can pass the CVs of people they believe are suitable for the job and make personal recommendations. If an employee suggests someone that later gets hired for that job, he or she receives a compensation that can go up to an additional month’s salary.
Why do companies invest in JRS?
JRS bring a number of benefits to companies. Firstly, they improve the quality of hire. When an employee suggests a candidate, he or she knows that the recommendation will reflect on him or her as well; in other words, employees tend to only put forth CVs that truly fit the vacancy’s requirements. Secondly, JRS give HR departments the opportunity to reach passive candidates, that is, people who may be exactly what they’re looking for but who aren’t actively job hunting.
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In terms of corporate culture, JRS create a sense of ownership of recruitment processes shared by all employees. Having the power to influence who comes into the company has a direct effect on employees’ happiness at work, and happy employees are more productive. It’s interesting to notice that studies show that happy employees also make more referrals, creating a virtuous recruitment cycle. Finally, these systems increase employee engagement: referred employees tend to remain longer in a company. This is especially important at a time when most companies are trying to control the problem of retaining millennial talent.
How can you explore JRS?
The best advice we can give you is this: assume that the company you wish to join has a JRS. Before filing an online application, use LinkedIn and Glassdoor to approach someone who works there and explain your interest in it. Introduce yourself briefly, underlining why you think you’d be the right fit for the position and/or the company and ask them directly if the company has a JRS. Remember that a successful referee gets a bonus, so your contact can result in a win-win situation for all. In other words, don’t be afraid of “bothering” people!
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If the company has a JRS, make it easy for your contacts who work there to help you. Send them your CV (updated, proofread, etc.) and a short letter introducing yourself and clarifying your interest in the position and/or the company. Be open to suggestions to revise your documents; employees know the preferences of their HR executives. Keep your LinkedIn profile impeccable and make sure your online presence doesn’t include anything less… referable. Remain polite and patient; although quicker than other recruitment strategies, JRS take their time.
If the company doesn’t have a JRS, it may still be useful to ask for a referral. If you really have the right profile, the person who gives your CV to the Hiring Manager will look good and you can at least be sure that your documents have reached their destination.
Good luck! As always, our team of experts awaits your comments and contact. Please feel free to download our ebook below.
