Hyderabad, Andhra Pradesh, India, Tuesday, April 23, 2013 — (Business Wire India) — With the prevalence of social networking, e-referrals now seem to be one of the biggest innovations in the form of WhistleTalk’s Enterprise Solution that can boost any referral hiring program. Offered as a SaaS based application with zero maintenance costs, it is easy to deploy and extremely user friendly to operate both for the employers and employees. One of the biggest benefits for the organization is the reduction in cost per hire, which the employers can spend as bonus to reward employees for bringing the right candidates on board.
A team of young minds led by Vinoo Chacko worked on the idea of helping enterprises to leverage the social network of their current employees and the end result is WhistleTalk’s Enterprise Solution. For employee referrals this technology would change the face and pace of the recruitment process. Hyderabad Angels – a network of angel investors that invest in technology, cloud and mobile solutions picked up on this innovation and funded the project. Now, through WhistleTalk’s easy to use online application, employers can sign-up and within a few hours have their employees start sharing information about job openings in their teams to their friends on social networking sites.
Popular social recruiting surveys and recent HR trends indicate that social recruiting is a fast growing opportunity with an upward graph in candidate quality and quantity, accelerating employee referrals and ensuring all partners in the HR ecosystem stay happy. Employees win a referral bonus, hiring managers find right talent faster, and enterprises realize cost savings. This is why the use of social media by recruiters to reach candidates is at an all-time high of 92%.
Talking about the benefits of referral hiring, Vinoo Chacko, CEO WhistleTalk says “Employees acquired through referrals are hired quicker, stay longer and cost less to recruit. Referral candidates move through the hiring process 55% faster than those who come through job sites.”
Some remarkable trends in Indian social recruiting indicate that among those who are social hiring, over 50% see increase in job applicants. Employers whose business success depends on recruiting top talent are focusing on investing in employer branding, referral programs and new recruitment applications.
Sunil Sundar, HR Manager at Richcore, a leading Bangalore based biotech company, which has deployed the WhistleTalk referral hiring solution says, “At Richcore, we value our current employees and want to hire more people like them. On WhistleTalk, our employees share current openings with their network of friends, alumni and past colleagues. The solution was up and running in a few hours and since it is a SaaS offering, no local IT resources were required. It’s so simple to use that our employees are now actively using WhistleTalk without the need for any training. Through WhistleTalk, we are able to engage the employees with rewards and competitions, resulting in a significant increase in participation and quick results. And for the HR manager, WhistleTalk makes it easy to manage openings, track results, sort applicants and reward employees.”
“WhistleTalk gets more employees to participate in referral hiring because of its innovative rewards program and gaming dynamics. Businesses and enterprises of all sizes can benefit because the application ensures right opportunities reach the best candidates at the earliest and as openings are referred by friends, even passive candidates are likely to apply” says an enthusiastic Vinoo.
With a worldwide market potential for recruiting at $100 billion, WhistleTalk sounds a high note to revolutionize the way, enterprises hire through referrals.
About WhistleTalk:
WhistleTalk ( www.whistletalk.com ) is a referral hiring application (for individuals & enterprises) that enables employees and hiring managers to quickly find the best talent. Users can share job openings in their team, help friends to find their dream job and win a referral bonus. WhistleTalk amplifies the power of referral hiring by leveraging employees’ social networks. The WhistleTalk matching and virality engine ensures that right opportunities reach the best candidates fast.
