So your recruiting team is hitting their goals, adding new sourcers, managers, and analysts, and has instituted a successful employee referral program. What next? Bersin by Deloitte set out to discover the most common denominators amongst mature talent acquisition teams, and released their findings in a comprehensive report available to their members. To save you a click, we broke down the key findings right here on the Teamable blog. Here's what they learned:
When I was your age, we had to walk 5 miles to a public library computer to access a /careers/ page. And all you got was a list with a search bar!
If you’ve been around the recruiting block a few times, you remember the days before company culture videos and organizational values made up the sheen of a modern careers page. And if you’re one of the eager young recruiting minds of tomorrow, it may surprise you to learn there was a time before there was so much as an “Apply Now” button. In this hopefully recurring segment, your Teamable pals are digging deep in the archives of the Internet Wayback Machine to dredge up the careers pages of yesteryear.
The recruiting team at Stripe was facing a dilemma: their once-robust employee referral program was losing steam. Fast-paced growth and expansion to multiple offices meant the tried and true methods of plying employees with cookies and manually combing through their networks no longer cut it. They need to figure out how to scale an employee referral program, and fast.
Katie Bishop and Lizz Hounshell from Stripe’s recruiting team enacted several strategies to get their referral pipelines back to fighting weight, and to hear the full story, we got them set up on a webinar to explain the nitty gritty. Here's the skinny.
There's been much hemming and hawing in the recruitment blogosphere about how exactly to structure referral bonuses. I'm sure you're all familar with the reasons it's so complicated-- how do you decide the amount? Do you offer the same prize for all roles, or pay a premium on hard to fill or in-demand positions? How long do you wait after the referral starts working to pay out? Do you pay the taxes on this bonus, or do employees get to find out that their $5k bonus looks a little more like $2800?
It turns out this line of questioning might be putting the cart before the hires, since a monetary bonus is often not the most appealing incentive for employees. So rather than tumble down the rabbit hole of paying out employee referral bonuses, let’s take a step back and examine the circumstances under which employees are actually motivated to make referrals, and how you can pull those levers to build a referral culture at your company.
We don’t have to convince you of the reasons why you should focus on building an employee referral program, right? Just to refresh you on why employee referral programs are so effective, in a nutshell, they lead to faster hires who perform better and stick around longer. If you’d like more specific facts and figures, you can check out some of the most compelling stats here.
Let’s say that you’ve seen the numbers and you’re already bought into the idea of launching an employee referral program. What comes next? How should you treat referred candidates—and the employees who referred them—during the interview process? Remember that your referral program rests on one important factor: employee participation. Let’s explore a few best practices to help you keep employees and the people they refer happy (even if they don’t end up getting the job).
So you’ve just landed a role leading a talent team—congratulations! Depending on the size and structure of your organization, your title might be Vice President, Director, or Head of Talent, but for most of these roles the expectations are the same: You’re responsible for the systems of hiring, rewarding, managing, and developing the people within your company.
How should you approach your first 90 days on the job? CTPartners recommend that, “the first 90 days on the job is a critical time period for gathering information, making first impressions, and setting a tone that will best facilitate a strong human resources leadership tenure.”
Let’s investigate what that might look like in practice.
Let’s say that you’ve been inspired by a story like the one from Aubrey Blanche at Atlassian (Aubrey boosted the number of female technical hires by 80%—you can learn how she did that here). You’ve decided that building a diverse team is a priority at your organization. You’ve revamped your pipeline and recruiting strategies to bring in candidates from a broader range of backgrounds. So what comes next?
Pop quiz: Does your company value financial performance, innovation, and tapping into new markets? Here’s a hint: The answer should be yes for at least one of these points,if not all of them! And if that’s the case, you’ll want to think about how you can actively promote diversity and inclusion, since more diverse companies have been shown to outperform less diverse peers on all those dimensions (and more—check out some of the most impressive statistics on diversity and inclusion here).
Here’s one of the paradoxes of the modern working world: Not everyone is naturally skilled at conducting interviews, yet pretty much everyone is called upon to interview candidates. It’s a funny contradiction—we wouldn’t ask a salesperson to go into a meeting with a prospect with no advance preparation, yet we ask our engineers, marketers, and customer success people to do the equivalent every time we send them into an interview with no plan.