Earning through Referral websites

There was time when referring a job was considered to be the final straw in the recruitment arena. However, this is no longer the case as with the changing times, referring jobs has turned into premier option for organizations. And here comes the twist, referring someone for a job can get you paid as today it is no longer just about friends referring friends as a new and improved model on similar lines has been developed ‘referral websites’. These websites deals with referral recruitment and even pay the referrer for every successful referral made.

This process is similar to the internal referral system that most organizations today boast of. The difference lies in the sheer number of referrals made. Websites have signed on with various companies and provide them with the resumes of the referees. This referral recruitment model allows companies to post high level jobs on the site, and members of such websites refer their friends and colleagues who they know are a good fit and get paid upon successful referral. It provides high quality levels, and reduces costs significantly. This concept is new to India and its will take sometime for people to understand the model a start referring. This service is basically to hire people from middle or senior level management and is considerably cheaper than other recruitment processes. The successful referrer is one who gains in the end as the rewards begin from Rs 10,000 to over a lakh depending upon the level of referral made.

The picture has been very rosy till now. But how does the system work and how does the referrer get paid for every successful reference? The model is similar to the internal referral system, the only difference being that many organizations are signing up with these websites to share the job openings with them. In return these companies get the talent pool on the websites who are basically networking with each other, get to know about the job and refer their friends or colleagues. The website charges the companies for every successful referral from their website and pay the referrer a part of the money.. The reputation of the referrer is also at stake in this, hence he/she won’t refer anyone but first will make sure of the competencies of the person they are about to refer. This adds to the credibility of the referee and hence makes it easier for the organization to hire if suited.

However, there is a sense of caution that these companies follow as the reward money is enticing and therefore, it might attract a lot of greedy people who would just refer to earn money. Yes there is a possibility and hence set up a KPO where all the resumes referred are verified and the referrers’ profiles are also verified. By this websites come across a scenario where a single referrer is found referring the same for a lot of jobs just to earn the reward. KPO screens such profiles and the website black out them. At such websites, people refer candidates who are only on their networks, i.e. you know them, and therefore, the number of referrals will be less but of the highest order. So, the next time you find someone worthy enough for a job, don’t just sit back but make that important referral. He might get hired and the referrer may pocket a neat sum in the bargain.