Australian-founded start-up, Referall has launched a digital talent marketplace designed to amplify the value of referral networks by bringing high-quality candidates to the forefront of job opportunities.
By activating the passive job market, Referall shakes up traditional recruitment methods by financially rewarding successful endorsements with a referral fee, or job-seeker candidates with a signing bonus.
The 2022 Referall Recruitment Satisfaction Survey found that two in five employers are struggling to find and hire the right candidates and six in 10 employees agree that being referred to a job made them feel more valued and trusted in their position. The survey also revealed that employees hired through referrals perform better (56%), stay longer (37%) and are better cultural fits (39%).
Backed by Deputy co-founder, Steve Shelley, Referall is the brainchild of 100 years of combined experience across services, recruitment, HR and tech industries. Founder Simon Hogg and his team have created the first platform of its kind, centralising, amplifying and monetising the power of referrals by incentivising job ad-readers to recommend suitable candidates.
The web app allows advertisers to set a cash reward to incentivise successful referrals, while allowing friends and colleagues to endorse candidates, collectively putting applications ahead of the competition.
“After 23 years working in the recruitment field, I can see that the demand for quality talent in the Australian workforce has never been greater. Minimal changes in recruitment approaches over the last 20 years have created a gap between current trends and traditional recruitment methods, and businesses and employees are crying out for a change,” Hogg said.
“Our goal with Referall is to streamline the recruitment process for everyone from tradies to marketers, lawyers to librarians, ultimately revolutionising how we view the job market across the board.”
Referral director and investor, Steve Shelley added: “This is the first time in history that we are experiencing an inflexion point between traditional employment and the gig economy. Coupled with global skills and staff shortages, employers are lacking the efficient tools to allow them to reach the untapped passive candidate market.
“With employers everywhere desperate for quality talent, the Referall team has created a truly unique solution to a very significant problem. I have every confidence in their ability to take the company from strength to strength, ultimately transforming how we manage talent resourcing.”