Josh Willows, Broadbean, speaks about ‘How to get your employees hooked on your referral scheme’ Keeping employees engaged is one of the hardest challenges for an organisation. Josh will look at the ‘Hooked Model’ and other tips on referral programmes.
6. Why should you focus on social media?
6
• One average, 1 employee share
generates approximately 20
clicks on Facebook and Twitter
• An average employee advocate
is 2x more trusted than a
company CEO
• Only 33% of candidates trust
brands, whilst 90% of candidates
trust recommendations from
people they know.
7. Employee Referrals – The facts
• #1 Source in Hiring Volume
• #1 Source for New Hire Quality
• Highest retention rate of all hires
• Strongest application to hire ratio
• Rated top source for diversity impact
• Best on the job performance of all hires.
7 Sources: Staffing.org 2011; Creating an Employee Referral Program: Guideline for Getting Started, Bersin by Deloitte, December 2013; Dr. John Sullivan and Associates research 2008-2011; The
Shortest Path to Better Hires, Oracle 2013
8. A typical company Landscape
8
15-20%
of employees
will refer
15-20%
wont refer
We want to
leverage 60% that
are winnable but
not actively
referring
9. 9
Rewards of the hunt is the
search for material resources
and information
* Reward: Things, money,
information
Rewards of the hunt
Rewards of the self is the search
for intrinsic rewards of mastery,
competence and completion
* Rewards: mastery, completion,
competency or consistency
Rewards of the self
Rewards of the tribe is the search
for socialrewards fueled by
connectedness with other people
* Reward: Gratification from others
Rewards of the tribe
The Hooked Model - rewards
10. 10
Rewards of the hunt is the
search for material resources
and information
* Reward: Things, money,
information
Rewards of the hunt
The Hooked Model - rewards
13. We’ve noticed that employees are driven by the
anticipation of a potential reward. By making these
rewards more obtainable it drives engagement. And
with that a higher ROI.
We offer 2 ways to reward:
1. Micro rewards for loyalty
2. Micro reward for certain actions
Let’s start with the type of rewards you can offer
Your employees!
Engage your employees with small rewards
14. Company gifts
Can be either vouchers or
physical presents like t-shirts,
lunches, lunch with the CEO
Integrated. Effortless. Simple.
Amazon & Starbucks
vouchers vouchers
How nice is it to receive a
cup of coffee? Simple and
straight forward. A great
way to say thanks!
Charity
Set a value on target to be
reached for the employee
and transfer the amount
when target is reached.
Type of rewards
15. T
The loyalty rewards need to have a straight forward set
up:
1. Levels. Create multiple moments (or levels) where
your employees can receive rewards.
2. Intervals. Keep the intervals between the rewards
consistent or make them incremental.
3. Reward. Choose the vouchers and the value of each
reward and set them to each level.
TIP!: In general people tend to more motivated by
smaller rewards that are with in reach. Set the reward
too high and people might see the challenge to be too
difficult.
Loyalty rewards
16. REWARD ACTIVITY
250 POINTS
£3 cup of coffee
voucher
500 POINTS
£3 cup of coffee
voucher
750 POINTS £10 Amazon
HOW TO EARN POINTS
Share 10 POINTS
Click 1 POINT
High five 10 POINTS
Invite colleague to
SR
25 POINTS
Referral applies
100 POINTS or
REWARD
Referral is invited for
1st interview
250 POINTS or
REWARD
USER CASE
10 shares 100 points
200 clicks* 200 points
2 applications 200 points
Invited colleague 25 points
Interview 250 points
TOTAL 775 POINTS
Costs £6 + hire bonus
*On average every post on Twitter-Facebook-Linkedin
receives 20 clicks
REWARD RESULTS
100 POINTS
Referral is invited for
1st interview
£10 Amazon
Referral is hired Hire bonus
Referral applies
Rewards
17. 17
Summary
• The candidate market place is changing
• Your employees have the potential to reach a
huge range of passive candidates.
• Having a referral fee might not be enough, you
need to think about how you incentivise
candidates more regularly
• The more frequent the rewards, the more
engagement you will get from your employees.
We now have more touch points with candidates then we ever have done before. But one of the most basic and one of the oldest ways is to refer a friend. Social referral has been around since 2010 of which Guido the owner is a psychologist and an ex recruiter. He couldn’t understand why we we’ren’t better at this. But we’ve made a lot of mistakes. From 2010-2014 we focused on candidate matching but we realised I didn’t work because no matter how hard we tried we couldn’t incentivise the employees to use the system. As a result we looked and realised the companies such as hollaroo, rolepoint etc. we’rent growing massively either, but social advocacy was a rapidly growing market and something we should investigate further.
So whether we like it or not the age of the millennials is coming. We know that they behave differently than other generations they’re fluent on social media, they’ve grown up the internet but these are obvious what does this mean for recruitment. Before, a job description could be better referred to an advert, millennial candidates are far more likely to research a company before they interview so if you adverts say “dynamic”, “fun” “forward thinking organisation” but you’re glassdoor rating or your careersite doesn’t display that then you’re going to found out. They’re far more interested in company culture, benefits flexible working etc. than they are than they are about a job for life.
Some of the most underused assests we have in recruitment are our own employees. The average employee has approx. 400 connections