The Referral Engine from LinkedIn will be available end of 2011 and promises to ‘Unlock the Power of Your Employees’ Networks. It was first announced on 3rd of November 2010 and is solution that has been developed in partnership with Accenture to pilot the product and get the final details right. A few more details are available now.
Referral Engine taps into the power of the world’s largest professional network by:
– Recommending the best candidates for open jobs. A powerful algorithm recommends the best candidates by looking at all your employees’ contacts through the lens of your open jobs. Employees then apply their own judgment to refer only the best of the best.
– Simplifying the referral process. Recommendations are delivered to employees via email or the LinkedIn homepage, and they can contact a candidate or make a referral in just a few clicks.
– Keeping referrals top-of-mind. Periodic reminders with specific suggestions make sure employees are thinking about referrals consistently.
Basically, LinkedIn developed an algorithm that matches skills required to a person specific in one of your employees networks and a notification is given to the recruitment team. The recruiters then approach the employee to see if they like to refer their contact. Potential clients will need to have at least a few jobs advertised to make the Referral Engine work. To get buy-in from the employees it’s important that, if the friend takes the job, a referral bonus is being paid.