CareerOne turns referrals into cash through PeerBrief deal
News Corp Australia’s recruitment platform CareerOne has licenced technology from the Sydney based referral software company Peerbrief enabling members of the CareerOne network to earn cash by providing referrals for employers.
According to the recruitment site, “When posting a job ad, employers can choose to amplify it out to the crowd of registered referrers in the same industry as the ad. These referrers can suggest up to three people from their own networks for the job. If one of the three gets the job, the referrer gets paid $1,050.”
Underpining the PeerBrief technology (and the business model) is a practical piece of mathematics. Although referrals only make up less than seven percent of total applicants, in the industry on average they represent 25 per cent of hires. Referrals are also the fastest source for recruitment and referred candidates are twice as likely to stay on in the role
CareerOne CEO, Karen Lawson says “Since referrals are such an effective source of candidates, we wanted to develop a solution that is accessible to anyone, and allow the crowd to connect the employer with employee.”
According to Lawson, “The strength of people’s networks are at the heart of this tool. We’ve created a system that’s accessible to anyone, allowing the crowd to connect employers with employees.”
The initiative is one more example of how digital technologies are disrupting recruitment. “It’s another example of how CareerOne has redefined its business model to be a data-driven digital advertising, technology and media business, ” Lawson says.
She told Which-50, “PeerBrief were looking for a large forward looking recruitment website that had solutions outside of the traditional job board. CareerOne’s targeting business, Digital Head-hunter, is a natural fit with targeting to find great staff through referrals. Exclusivity allows both parties to invest and benefit properly from the relationship.”