Refur

The future of marketing is people. When it comes to referrals, companies rely on their internal workforce to support them in their hiring process. Referrals are a great source for getting suitable profiles and are more reliable too. But they can be restrictive if the company strength is fewer in number and if existing employees don’t contribute to this channel. This problem is widely seen in startups and small and medium organisations. To solve this problem, Refur has been launched. So what is Refur and what is exciting about it? Refur is a modern marketplace which brings together human resource specialists / talent acquisition partners / hiring managers or even employees (called "Sponsors") and a growing community of referrers (called "Referrer"). Sponsors can post their internal job requirements on the app and advertise their requirements across the Referrer community. This widens their referral angle by leveraging on the Referrer community and helps them receive candidate profiles as referrals beyond their company’s borders. Referrers get to see new job requirements across their chosen and relevant job categories and can submit suitable and matching profiles against the job requirements. They can even share the job requirements with their acquaintances on WhatsApp from where the applications can be submitted. So how does this referral system work effectively? Just as in any referral mechanism, the primary motivator is the incentive offered for the reference. While posting a requirement, the Sponsor is expected to announce the referral incentive that they are willing to offer. They can even add a Bonus component to it and specify the criteria and conditions for the same. Example, if the hiring is immediate and very critical, a higher bonus amount can be specified. The Referrer in turn, would be able to see the incentives and bonuses offered against their relevant referral categories and are motivated to submit their candidate references. They would become eligible to receive the referral incentive and bonus if any, on the successful placement of their referred candidate. The incentives and bonus if any, are automatically credited into their specified bank account, on completion of the cooling period (the minimum time period a candidate is expected to be with the organisation post his/her joining). It is not necessary that an incentive has to be mentioned for every job requirement. Job requirements can be posted with zero incentives too. However the chances of getting relevant references would increase and be higher with higher incentives. How reliable are the references provided by the Referrals? To ensure that the referrals are valid and are known to the Referrer, an OTP based validation is used during the referral process. When the Referrer submits a reference, the referred candidate receives an OTP. This OTP has to be shared with the Referrer to complete the submission. This ensures that only candidates whom the Referrer truly knows, is referred.