Talent Makers by Daniel Chait & Jon Stross

Author:Daniel Chait & Jon Stross [Chait, Daniel & Stross, Jon]
Language: eng
Format: epub
ISBN: 9781119785286
Publisher: Wiley
Published: 2021-04-20T00:00:00+00:00

We've since taken a very different approach at Greenhouse. We don't incentivize the outcome (someone getting hired); instead, we incentivize the activity of someone making a referral.

Every time someone at Greenhouse makes a referral, they immediately get a raffle ticket. It doesn't matter whether we hire the referred person or not. You're free to exchange the tickets for cool swag that can only be earned through a raffle ticket, and no other way. So, wearing the shirt makes a statement inside the company.

At the end of the year, we have a big all-hands meeting, where we put all the raffle tickets into a drum. The winner gets an all-expenses-paid vacation for two to go anywhere in the world.

Now people feel like wow, that's really extravagant. Yes, but we're only paying it once. So, instead of a $3,000-per-hire referral prize that generates no buzz, this costs a few thousand once a year for the entire program.

We also make sure to push referrals throughout the year: recognizing people each month who are earning raffle tickets, sending emails about the program, and so on.

We see to it that the employee making the referrals knows that we're treating the candidates well when they come in for an interview.

This simple shift from monetary reward to activity reward is a big unlock for people. It can get you 30–40 percent referral hires, instead of the 10–20 percent that's common at many companies.

Of course, you can't plug in a better referral program and expect it to do much, if your candidate experience sucks on every other dimension. All the elements we've been discussing in this book are interconnected. However, you have to start somewhere, and revamping your referral program is a project that will reward you handsomely, especially when you take steps to improve the interviewing process at the same time.

Agencies. Earlier we talked about the useful role agencies play. The good news is they typically take the financial risk because you pay nothing up front. The not-so-good news is that if you hire a candidate they delivered, you'll pay around 20 percent of the annual salary of that person. With agencies that focus on executive search, you'll pay them up front whether they find the right candidate or not.

Specialized sourcing software. Some organizations have used technology in creative ways to access discreet candidate pools. They can be excellent sources for candidates when diversity goals are not being met and you need more applicants at the top of the funnel. Even if you don't use Greenhouse, you're welcome to look at our large number of partners and contact them directly. Please visit https://www.greenhouse.io/integrations.

Cold outreach outbound sourcing. This is where you start from scratch and hit the phones, email, and any other communication method to contact strangers and ask if they're interested in working at your company. It's like what business development reps do in the sales and marketing world. The key is to personalize! Emphasize quality and building individual connections over “spray and pray” bulk emails.

Sourcing from database.

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