Employers are inundated with quality candidates these days, whether through online job postings, submissions through their corporate websites, or unsolicited contacts from prospective employees. So, what's the best way to cut through the clutter and grab a company's attention? Their employee referral program.
According to a recent New York Times article “big companies are increasingly using their own workers to find new hires, saving time and money." At large firms such as Ernst & Young, employee referrals account for 45% of nonentry-level new hires, while Deloitte sources 49% of their experienced hires in the same way.
A recent study by the Federal Reserve Bank of New York found that “referred candidates are twice as likely to land an interview as other applicants. For those who make it to the interview stage, the referred candidates had a 40% better chance of being hired than other applicants."
Lastly, Jobvite's research shows that:
On average, every employee has 150 social media contacts. For employers with 100 staff, this equates to 150,000 candidate sources.
Employee referrals have the highest applicant-to-hire conversion rate, accounting for 40% of all hires.
Applicants hired from a referral are brought on board faster than candidates through job boards or career sites – an average of 29 days versus 39 and 55, respectively.
Referred hires report greater job satisfaction and remain on the new job longer – 46% more than 1 year, 45% more than 2 years, and 47% more than 3 years.
67% of employers and recruiters state that the recruiting process is shorter with referred candidates; 51% say it's less expensive.
69% of all US employers compensate for their employees for referrals and 30% plan to invest more in their employee referral programs in the future.
What does all this suggest? That if you overlook the employee referral programs of your target employers, you're ignoring the fastest route to landing your next role.
To take advantage of employee referral programs, here are six tips to leverage.
1. Target 10-15 specific employers in your preferred industry(ies) and geographic location(s)
Don't fall into the trap of believing that you're passing by great opportunities if you focus too much on specific companies. By leveraging a strategic approach to your targets, you dramatically increase your access to current and future job openings while short-cutting your search length.
With LinkedIn's help, you can quickly identify the folks in your network who are connected to each firm in question by reviewing the list on the right-hand side of each employer's profile. Your first-level connections to the company are probably your strongest connections. To make the most of your second-level connections, you may need to request an introduction from the contact(s) you share in common.
3. Build multi-layered social media connections at each target company
Network your way in to your target department(s) and reach out to connect with multiple people in relevant parts of the company. Note that this means not just inviting folks to connect, but looking for ways to initiate and sustain an ongoing conversation via social media, email, or phone so they can get to know you and you can eventually request a referral into the appropriate department.
4. Forge proactive relationships with these connections
Take the initiative to start conversations, to find out how you can help them in their work, and to learn more about their workplace and career needs. Suggest helpful resources and forward links, articles, blog posts, news, and white papers that relate to their needs. Keep the conversation going by asking relevant questions and demonstrating a respectful curiosity about their work. Learn how to utilize this “give-to-get" networking approach here.
5. Hone in on the contact most likely to refer you to a hiring executive
While you need to build multiple networking inroads into your target employers, it's appropriate to request a referral from just one since the company will likely only reward one person for referring you. Notice which internal contact is the most responsive to your overtures and focus your request campaign on that person.
6. Make your referral request
If you do a little research and information gathering in advance, you can identify the referral process and promised rewards of each of your target companies. When you've laid the groundwork, you are ready to request a referral by following the referral guidelines published by each firm. A simple request can help you open the door.
For example, “I understand XYZ's employee referral program can win you X or Y. If you're open to such a discussion, I'd love to chat with you about whether referring my candidacy to the company might be appropriate."
Keep in mind that employee referral programs are designed to benefit a company's workforce, so these staff are helping themselves when they help you. Knowing that someone may be rewarded with cash or desirable merchandise such as a big screen TV or an iPad for referring you to the company makes it easier to ask for their assistance in the first place. Smart employee referral programs transform “something for nothing" networking into the ultimate networking win/win.
By plotting a strategic approach to your target companies and taking savvy advantage of their employee referral programs, you can increase your interview and hire odds dramatically.
This post was originally published on an earlier date.
A 15-time, award-winning resume writer, Cheryl Lynch Simpson serves mid-career to senior executives as a credentialed resume writer (ACRW), LinkedIn strategist (COPNS), and Get Clear, Get Found, Get Hired (G3) coach. Like her advice? Check out her website, ExecutiveResumeRescue.com for a complimentary copy of her popular Polish Your Profile LinkedIn presentation, or follow her on Twitter!
Disclosure: This post is sponsored by a CAREEREALISM-approved expert.
Is your job search turning into a grind with no end in sight? It may be time to take a step back and reevaluate your entire approach.
In cold weather climates, the beginning of spring is a time to clean the house and get organized—a practice known as spring cleaning. Through the years, spring cleaning has taken on a larger meaning with people using the time to organize and declutter things in their lives.
For professionals on the job hunt, a little spring cleaning (metaphorically speaking) could be a great way to reinvigorate your job search. Here are a few strategies your job search spring cleaning should include.
Reevaluate Your Job Search Approach
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Make a list of the last handful of jobs you applied for and see if you can identify any positive or negative trends. Consider things like:
How did I learn about this job?
How did I apply for the job?
Did I earn an interview?
What was the ultimate result?
A lot can be learned about your job search approach just by answering these questions and identifying patterns. For example:
Negative Trends
You discovered five jobs through job boards, applied to all of them via the job boards, and never heard back from any of them.
The common pattern here is applying through job boards. This isn't to say that job boards don't serve a purpose in the job search process, but they have their limitations, and you can't run your job search entirely off of them. When you apply through a job board, there's a good chance that your materials will never get past the applicant tracking system (ATS) and never be seen by an actual person.
One simple fix is to research who the hiring manager or recruiter is that posted the position and email your materials to them directly.
The more efficient fix would be to take a proactive approach by putting together a bucket list of companies that you want to work for and start making connections on LinkedIn with people who work at those companies. You may already know some people who work there or have connections that can refer you to some individuals.
This is a great way to network your way onto a company's radar.
Positive Trends
You applied to three jobs via referral, were invited to two job interviews, and made it through multiple rounds of interviews for one of the jobs before being passed over for someone with a little more experience.
The pattern here is that getting referred to a job by a professional acquaintance is a great way to land a job interview. This indicates that you're leveraging your network well and you should continue to focus on your networking efforts.
The next step is to review the interview process and determine what went well and what needs to be improved. Sometimes the interviewer will provide feedback, and that feedback can be valuable. However, not everyone is comfortable with giving feedback.
Chances are you probably have a good idea about areas of improvement and the skills you need to gain. Put together a plan for addressing those shortfalls.
The good news in making it deep into any interview process is that it indicates that the company likes you as a potential employee (even if the timing just wasn't right) and the experience could be a roadmap to a job with that company at a later date, or another similar opportunity elsewhere.
Give Your Resume & Cover Letter Some Much-Needed Attention
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Are you continuously sending similar resumes and cover letters to each job opening with only minor adjustments? If so, your strategy needs some serious spring cleaning.
The reason why it's so important to tailor your resume is that throughout your career, you acquire numerous skills, but the job you're applying for may only be focusing on 6-8 of those skills. In that case, those skills must rise to the top of the resume with quantifiable examples of how you successfully used those skills at previous jobs.
Remember, recruiters go through hundreds of resumes. They need to be able to tell from a quick glance whether or not you're a potential candidate for the position.
While updating your resume, you could also spruce up your LinkedIn profile by highlighting the skill sets that you want to be noticed for by recruiters.
As for writing a good cover letter, the key to success is writing a disruptive cover letter. When you write a disruptive cover letter, you're basically telling a story. The story should focus on how you connect with the particular company and job position. The story could also focus on your personal journey, and how you got to where you currently are in your career.
If your resumes and cover letters aren't unique, now is the time to clean things up and get on track.
Build Your Personal Brand
Just because you're looking for work doesn't mean that you don't have anything to offer. Use previous career experiences and passions to build your personal brand.
Ask yourself, "How do I want other professionals to view me?"
Pick an area of expertise and start sharing your knowledge and experience with your professional network by pushing out content on your LinkedIn and social media accounts. Good content can include blogs, social media posts, and videos.
By sharing content about your experiences and passions, you slowly build your personal brand, and others will start to notice. The content could lead to good discussions with others in your network. It could also lead to reconnecting with connections that you haven't spoken to in years, or making new connections.
You never know when one of these connections could turn into a job lead or referral. The trick is to get on people's radars. So, when you're cleaning up your job search, be sure to build a plan for personal branding.
Maintain Healthy Habits During Your Job Search
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Your job search is important, but it's even more important to know when to pull back and focus on personal health and spending time with family and friends.
There are actually things that you can do for your own enjoyment that could help your job search in the long run, such as:
Grab coffee with a friend - It's good to engage in light conversation with friends during challenging times. And if your job search does come up, remember that most people have been through it themselves and you never know when a friend may provide you with a good idea or lead on a job.
Volunteer - Volunteering is a great way to get involved in the community and help others. In addition, if you develop a little bit of a career gap while looking for a job, you can always talk about how you filled that time volunteering, if you're asked about it during a job interview.
Continue to focus on other passions - Are you a fitness nut? Blogger? Crafter? Continue to do the things that bring you happiness. And if you're in a position to profit from your passion through a freelance job or side hustle, even better!
Spring is the perfect time to clean up and improve your job search so you can land the job you want. If you're struggling to find a job, follow the tips above to reinvigorate your job search—and watch your career blossom!
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This article was originally published at an earlier date.
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