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#FIRMday Manchester 9th March 2017 - Broadbean: Social Referral Presentation

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#FIRMday Manchester 9th March 2017 - Broadbean: Social Referral Presentation

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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.

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.

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#FIRMday Manchester 9th March 2017 - Broadbean: Social Referral Presentation

  1. 1. How To Get Your Employees Hooked On Your Referral Program Josh Willows, Broadbean EMEA
  2. 2. About Broadbean 2 © 2017 Broadbean
  3. 3. 3
  4. 4. 4 Why change now?
  5. 5. 5
  6. 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. 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. 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. 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. 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
  11. 11. 11 What are Micro rewards?
  12. 12. 1 2 A case study
  13. 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. 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. 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. 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. 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.
  18. 18. Josh Willows, Broadbean EMEA joshw@broadbean.com www.linkedin.com/in/joshwillows @JoshBroadbean +44(0)20 7855 4175

Notas del editor

  • 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

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