Issue link: https://insights.randstadsourceright.com/i/815172
Matching algorithms can now deliver 'scores' to predict the strength of match between role requirement and individual profile. The human remains in control, and it is with talent leaders to approve this match and make the referral. extending the power of referral. 3 Employee referral (ER) has long been established as one of the most potent sources for economical, culturally aligned, efficient hiring. Organizations that get their ER programs working well not only bring in expert talent, but also improve the engagement of the existing workforce by acknowledging and rewarding their involvement in some way (which need not always be financial). Technology is helping to take this idea one step further. Historically, our capability to refer would be limited to the breadth of our network. While that is still largely true today, what's changed for nearly all of us is the scale of that network. LinkedIn is, of course, the strongest example of this, but Twitter, Facebook, Stack Overflow, Instagram and others are examples of platforms which enable us to cultivate connections through shared interests or backgrounds. So suddenly you may have several hundred, or thousand, potential individuals that can be referred into the organization at any time. To convert this potential into value, you may need a little help. Firstly, your referral platform needs to be able to share potential openings and other content with your social networks at scale. RolePoint and others are predicated on exactly that capability, giving every participating employee the opportunity to share live requisitions with either specific individuals or entire networks in just a few clicks. Of course this is great, but the real win is a platform that can also help match the skills and abilities of social networks with the requirements of our business. It's not uncommon to have many, many connections built on little more than attendance at the same event, and it's not likely that you'll have deep insight into those individuals' current situation or career ambitions. Simply sending live role alerts to everyone risks irritating your network and causing you to lose much more than a potential referral. If your organization has tens or hundreds of live roles at any one time, even with a manageable personal network it would be enormously time-consuming to manually match the people to roles by skills, experience, cultural preferences and career objectives. Matching algorithms can now deliver "scores" to predict the strength of match between role requirement and individual profile. The human remains in control, and it is with talent leaders to approve this match and make the referral. But it is a process that can dramatically improve visibility, keeping every single role and every single contact in scope when considering a referral. Being matched to a specific role should also feel much more personal than being sent a broad list of open requisitions. As these platforms improve their accuracy, they pose questions about the way referral programs have historically been established and rewarded. As seamlessness and relevancy grow in importance, it is interesting to note that some of the advanced candidate relationship management (CRM) providers are also seeking to integrate an employee referral element, delivering consistency by retaining every communication within a single digital eco-system.