“Who you know” is the most important thing when searching for a job. In fact, it just might be the one factor that could tip chances in your favor.
Recruiters review resumes for skills, but if there are only “six degrees of separation” between you and the competition, they are always more likely to take a closer look at a job candidate. Hiring managers know that words on a page can be exaggerated. A personal referral can help provide an important character reference that a resume cannot.
If you’re an employer, ask your employees to scour their social networks before you place that job ad. Research shows that you’ll hire faster and spend less money if you simply make reaching out to your existing employees the first step in your job search.
That’s what makes a good recruiter effective; they are heavily networked across pools of people. They understand who you know makes all the difference – especially in competitive job markets.
Here are the top reasons to look for referrals:
- You’ll hire more quickly, and in some cases, yo won’t even have to create an ad or spend money posting it. The applicant-to-hire ratio is significantly lower with a referral, at one hire for every three applications versus one hire from every 10 candidates from an advertisement.
- Interestingly, the referral candidate tends to onboard more quickly; they have an internal resource that they can go to with questions, so orientation just seems to flow better.
- Referred employees stick around longer, with around a 46 percent retention rate after a year, compared to 33 percent from career sites and 22 percent from job boards.
Less wasted management time saves money and is generally more efficient. That’s why asking, “Who do you know?” is so important to any new job search. There’s a lower termination rate for these candidates because they just end up being a better fit, no matter what industry you’re in.
Looking for more reasons? Read this.
2017 Referral Trends to Watch
Last year, LinkedIn released their Global Recruiting Trends 2017 study, which looked at 4,000 business related recruiters across 35 countries. They found that there are three key resources for finding new talent:
- #1 is employee referrals, at 48%
- #2 is third-party websites, at 46%
- #3 is social networks, at 40%
Companies understand that finding a referral pays off big in the end. That’s why job seekers should approach their social networks first before ever sending out a resume in a cold search. Yet referrals make up only 6.9 percent of all new hires.
That’s also why it’s often more productive to call a professional staffing agency with networking connections in the job field you’re trying to hire. So consider a referral the next time you're looking to hire.
Don't have any? Let us share our network with you. Click here to get in touch.
Big Money for Big Referrals
Artisan Talent is always in a nationwide search for the best creative talent and clients.
We’re always looking for a few good men and women to share their creative skills with our clients and vice versa. If you know talent – or even a business that needs staffing – contact us. We'll pay you up to $1,000 per referral. Get the details here.
Have someone to refer? Email us at email@example.com or click below.
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