Aussie start-up Referall has launched a digital talent marketplace to unlock and amplify the value of referral networks—bringing high-quality candidates to the forefront of the right job opportunities. Referall shakes up traditional recruitment methods by financially rewarding successful endorsements with a referral fee, or job-seeker candidates with a signing bonus.
What is the recruitment landscape like in Australia?
As employers battle talent wars and staffing issues across the country, a new study of 1000 employers, employees and recruiters commissioned by Referall has found that employees hired through referrals perform better, stay longer and are better cultural fits. 56% of employers said that referred employees perform better in their jobs, 39% said they were better cultural fits for their organisation and 37% reported that they stay longer in the role.
Yet most Aussie companies still don’t have a formal referral program or, if they do, don’t activate them well enough. The 2022 Referall Recruitment Satisfaction Survey also found:
- 2 in 5 employers report struggling to find and hire the right
- 8 in 10 employers (84%) report that a higher demand for skilled candidates and a more competitive job market have increased their spending on recruiter fees
- 6 in 10 employees agree that being referred to a job made them feel more valued
How does Referall rectify recruitment bottlenecks?
Backed by Steve Shelley, co-founder of Deputy, Referall is the brainchild of 100 years of combined experience across services, recruitment, HR and tech industries. Founder Simon Hogg assembled his team including Chris Jackson and Mike DeCambra who have come together to create the first platform of its kind, centralising, amplifying and monetising the referrals by incentivising job ad-readers to recommend suitable candidates in their network.
With over 85% of Aussies also falling into the passive job market (workers who aren’t actively looking for a job but are open to considering new roles), the Referall platform has managed to open the door to a previously untapped pool of employees—enabling employers to reach a subset of the population traditional recruitment channels have failed to capture.
The web app allows advertisers to set a cash reward to incentivise successful referrals, while allowing colleagues to endorse candidates, putting applications ahead of the competition.
What were the executives’ thoughts on the platform?
Simon Hogg, Co-founder and CEO, Referall: “After 23 years working in the recruitment field, I can see that the demand for quality talent in the Aussie workforce has never been greater.”
“Minimal changes in recruitment approaches over the last 20 years have created a gap between trends and traditional recruitment, and businesses and employees are crying out for a change. Our goal with Referall is to streamline the process for everyone: from tradies to marketers, lawyers to librarians, revolutionising how we view the market across the board.”
Referall Director and Investor Steve Shelley, said, “This is the first time in history that we are experiencing an inflexion point between traditional employment and the gig economy.”
“Coupled with 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 firm from strength to strength, ultimately transforming how we manage talent resourcing,” Shelley concluded.
Referall launched nationally recently and is available as a web-app that operates across all systems. For more information on Referall, please visit their website www.referall.com.
