Referrals are changing the hiring landscape as much as tech is changing the way we think of work. Whilst compiling our free ebook, Breaking the Code we found out that the more traditional channels don't work for employers or candidates any more.
Traditional hiring channels are becoming increasingly automated and less personal which is causing a massive disconnect between employers and candidates. There are far too many pre-packaged solutions offering the best candidates in the market with minimal input. Studies have shown that having less choice makes it's easier to make a decision, a lesson some employers could stand to learn.
Tech has managed to make major strides in attracting and retaining some of the best talent. The industry offers autonomy and accountability which are powerful motivators for accepting a role. Why are larger and more established companies failing to replicate this and attract the best themselves?
It comes down to personal motivations and trust in the source of hire. Smaller companies rely on selling their vision. They don't blow their budgets on expensive hiring channels (job boards, recruiters, etc.). This means candidates are having conversations with a decision maker at a startup significantly faster than with larger corporations.
One factor that is underestimated is the impact of the source of hire has on the candidate experience. We found that people are more likely to accept a role if they trust the source of hire. For example, 86% of tech workers would or have accepted a job through a friend. Combine that with earlier studies that found that 55% of talent expect their peers would want to work at the company.
As the UK continues to grow as a startup hub there is bound to be a rise in creative benefits, perks, and attractive job titles. How do you tap into a market that is already crowded?
Check out our infographic below to find out more: