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Jobvite Declares May National Employee Referral Month44 Percent of Client's New Hires Come From Employee Referrals, According to Jobvite Index 2012; Social Recruiting Innovator Hosts National Facebook Contest for Best Referral Story (May 01, 2012)
BURLINGAME, CA -- (Marketwire) -- 05/01/12 -- Getting a job referral from a friend or contact dramatically increases the chances of being hired -- one in 7 referrals vs. one in 100 general applicants lands a job, according to Jobvite data. Starting today Jobvite will observe the company's first annual National Employee Referral Month, promoting the benefits of referrals and encouraging employees across the nation to share jobs.
To promote the benefits of referrals and encourage employees across the nation to share more job opportunities, Jobvite launched a national Facebook contest today seeking the best referral story. Anyone who has gotten a job thanks to a referral can submit their story at www.facebook.com/jobvite through May 30. The applicant who receives the most Facebook "Likes" will receive an iPad 3 for their incredible story.
"All the data Jobvite's collected shows employee referrals make the best hires. But most companies see just a small percentage of their staff participating -- a problem Jobvite solves by making it quick and easy for any employee to promote opportunities across their social networks," said Dan Finnigan, CEO of Jobvite. "We've consistently seen Jobvites peak in the month of May. It's the perfect time to celebrate the power of employee referrals and encourage companies and workers around the country to make more job recommendations."
Employee referrals help employers find new talent by broadening the reach for any opening. While an HR manager often has more than 500 contacts, getting more staff members involved in hiring exponentially improves the process. For example, if a company has 100 employees and each employee has an average social network of 150 friends, the potential reach for an open position becomes 15,000 people.
Today Jobvite also published its Jobvite Index 2012: Employee Referrals. The Jobvite Index analyzed employee referral activity amongst 600+ customers. On average, every job listed results in 730 Jobvites -- a social referral to apply -- being sent to potential candidates. Other referral findings include:
- 44 percent of new hires are employee referrals, more than double the industry standard.
- Employee referrals get hired 55 percent faster than candidates from company career sites.
- HR executives rated referrals the #1 source of quality candidates, ranking an 8.6 out of 10.
- 69 percent of employers offer a referral bonus to employees.
Jobvite is also celebrating National Employee Referral Month by offering a variety of ways customers and recruiters around the country can enhance their employee referral programs. To help increase an employer's talent pipeline, Jobvite has created the free Employee Referral Resource Center. It includes tips and tricks on how to boost staff referral participation, Jobvite customer case studies and web casts, Jobvite's Social Recruiting Playbook and Social Recruiting Workbook, plus an infographic summary and full findings of the Jobvite Index 2012: Employee Referrals. Jobvite will also post referral tips on Twitter @Jobvite #NowReferring.
Jobvite is the leading recruiting platform for the social web. Today's fastest-growing companies use applicant tracking, recruiter CRM and social recruiting software solutions from Jobvite to target the right talent and build the best teams. Jobvite is a complete, modular Software-as-a-Service (SaaS) platform which can optimize the speed, cost-effectiveness and ease of recruiting for any company. For more information, visit www.jobvite.com.
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