Your Next Job Opportunity Could Be On A Bounty
Why you should rely on your network to land your next gig
I came across an email with a job opportunity some weeks ago.
An organisation was recruiting for a position. I believe they decided to share the opportunity information internally. What was a bit surprising was the additional information at the end of the email.
Here it goes:
Anyone who refers the successful applicant will be rewarded with a bounty, although in the form of a gift card.
I am sure this is not a new hiring trend. It's common to hear the buzzword "internal referral".
Here’s why
A referred candidate is faster to hire than a traditional candidate
Internal referrals are now accepted and commonplace in society.
Organisations are willing to gift anyone who helped them successfully recruit into a position.
Let's analyse why this is now a trend before you yell and put these organisations on the edge of a knife.
A Bad Hire Costs Money
Organisations spend a lot of money and resources recruiting and onboarding new hires.
According to Forbes, a bad hire can cost the organisation at least 30% of the employee's first-year earnings. This figure might be higher depending on seniority level.
No doubt, the negative impact of a bad hire is more severe today than it used to be.
What Does This Mean For You?
I am not asking you to start calling everyone in your network and requesting they forward you every job ad with a bounty.
You are unlikely to become wealthy this way. It is best to channel your energy elsewhere.
You'd be better off building a social and professional circle of professionals that trust you.
Referring an individual to a job opportunity is not easy. The referrer would be sticking their head up and putting their integrity on the line. So, there is a lot at stake here.
Deepen your relationships and maintain an excellent attitude to gain your network's trust.
This way, you are more likely to have individuals ready to stick their heads up for you should opportunities arise.
Closing Thoughts
Job opportunities will continue to be shared internally to source reliable and trusted hires.
Aside from the cost of a bad hire, employers want to be confident that the new hire is skilled, knowledgeable, and backed by those they already know and trust.
Build valuable relationships.
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