Though there will probably never some a time when job boards, newspaper want ads and employment agencies will ever become obsolete, the fact remains that in this day and age the true key to getting a job is who you know. Of course there has always been a lot of stock in that ideology since the beginning of time, but now who you know is really the name of the game when you’re playing the job hunt shuffle.
Research and studies are showing that not only are job seekers looking more at their online and real life network to find their next job, but employers are looking more to other employees or other personal referrals when looking to fill open positions.
Jeremiah Owyang of Web Strategy did a 5-part series based on a survey he took recently titled, “Jobs in a Recession.” In the first series of results Owyang found that of the all the respondents that had found work since September 2008 (when the recession started) 43% found those jobs through their immediate online network of friends, colleagues, alumni, or family. This is why many insiders and corporate insiders recommend devoting the majority of your job search time to networking.
The same can also be said for companies looking to hire, who trust a good referral more than a generic reference. This is why so many companies are either implementing new employee referral plans or building on plans that already exist.
A recent article on Martketwatch.com talked about just that. According to the article a good majority of positions are never even advertised because companies are choosing to rely on employee recommendations instead.
Companies such as Prudential and Vistaprint both offer lucrative employee referral programs. This benefits the company, who is hiring based on a trusted recommendation, the new hire, and of course the employee who made the recommendation who is not only helping the company succeed, but also making some quick cash in the process.
Prudential’s program offers $500 and $2,500 for each successful referral, depending on the job level. Vistaprint has the “Everyone Here is a Recruiter” program, which offers employees not only a home theater system for the employee with the most referrals hired, but also a $1,500 referral award for each successful hire. It’s no wonder that 48% of Vistaprint’s new hires in 2008 came from employee referrals.
This is a big part of the theory behind Ntroduction as well. With the majority of new hires coming from personal referrals, it’s important to know the right people. Be sure and check out our leads or list you own and see how YOUR network might work for you.
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