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

1. How To Get Your Employees Hooked On Your Referral Program Josh Willows, Broadbean EMEA

4. 4 Why change now?

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

11. 11 What are Micro rewards?

12. 1 2 A case study

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.

18. Josh Willows, Broadbean EMEA joshw@broadbean.com www.linkedin.com/in/joshwillows @JoshBroadbean +44(0)20 7855 4175

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

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