Job site, The Ladders is taking a page from Indeed’s playbook (aka Indeed Crowd) and launching its own referral program for its job seeker base. Details from the press release are below.
Ladders, Inc., a leading professional careers site, announced the launch of Referral Hiring today. This new program offers its more than nine million members the ability to earn up to $10,000 in referral hiring bonuses from their present employer. Referral candidates are often the best employees for an organization, which is why 88% of companies offer incentives through employee referral programs.1
More than 50 well-known companies are currently participating in Ladders’ new program, including American Express, Bank of America, Johnson & Johnson, Macy’s, The New York Times, Target, UPS, and Verizon Wireless.
“To help our members get ahead, we’ve built a beautifully simple tool to help them earn up to $10,000 from their current employer for qualified referral hires. For companies, getting a steady stream of qualified candidates can be a challenge. It can take weeks or months to find the right person to fill an open position,” said Marc Cenedella, CEO of Ladders. “Often the best talent is found by current employees referring the people they already know. With Ladders’ Referral Hiring, we’ve made it easy for our members, and their employers, to benefit from those connections.”
According to recent data:2
- 70% of employers say referred hires fit the company culture and values better than external hires
- 40% of all employee referrals are hired
- Nearly one in two (47%) of referred hires stay loyal to a company for three or more years
To participate, companies simply provide an email address for referrals. Ladders members will be notified of open positions within their company and will receive compensation, in an amount up to $10,000 from their employer, if their referral is hired.