Employee Referral WebCompany

EMPREF is a web company that provides employee referrals to a company wishing to hire employees.

Referror is a person who creates references on EMPREF of people known to him / her. Person doing the reference is called REFERROR. Person being referenced is called REFERREE. The definition of "known" could be similar to that used by LinkedIN while inviting someone to join your network (viz. done business, worked together, friend, ...). To maintain quality and integrity, references should be subject to random audits by EMPREF as well as to peer-moderation (e.g. challenge of existing contact by any member in Jigsaw, eBay's buyer and seller reputation scores).

A company can chose to accept referrals from one or more of the following sources available in EMPREF. (a) company's current employees (b) company's past employees (c) employees of other companies specified by the company (d) thought leaders and anyone else specified by the company. 

EMPREF could also permit interested people to apply for jobs posted by a company. To prevent waste of company's time in evaluating unsuitable applications, EMPREF could do one of the following things: (a) make job applicant money to submit an application (e.g. $.99 charged by LocalBacon.com), or (b) do some manual / algorithm-based matching of applications with job specs and accept only those applications that have passed a threshold score (say, 3 on 5).

Revenue Model:

From company (a) Monthly subscription from company (b) Fee per job posting by company (c) Fee per successful recruitment

From job applicant (a) Fee per job application submission (b) guaranteed evaluation of job application by company (c) feedback in case of rejection of job application by company (d) finding a suitable Referror from within EMPREF.

Go To Market Strategy

Decide whether to use "quality recruitment" or "referral recruitment" as the go to market theme.

Drive home the point that job application submission fee is charged only to ensure quality. Reinforce this point by refunding this fee if the applicant is successful in getting hired by the company.

Offer to waive "fee per job posting by company" if following conditions are met by company (a) company agrees to post jobs only on EMPREF to the exclusion of Monster, Naukri, and other market leaders (b) guarantees to evaluate and provide feedback for each application received from EMPREF.

Everytime a person leaves a company, there seems to be a spate of employees of that company approaching the leaver with a request to find them a job elsewhere. Target the leaver community to enroll them as Referrors. Sources to obtain leaver information (a) successful recruitments through EMPREF (b) provident fund office where leavers would apply to transfer their account from leaving company to joining company, or encash in case they are starting something on their own (c) new hire lists from all EMPREF company customers.

Competitors / References:

TopProspect.com (Feb. 2011. Almost identical to EMPREF, sigh!)

RefMob.com

JobsByRef.com

LocalBacon.com

Careerify.com (acquired by LinkedIn in March 2015, sigh!)