eRecruitment 2.0
Employee referral websites are poised to be the “next big thing” in the recruitment field according to the Business Standard. With job opportunities in the country running into millions and eligible candidates lining up, these websites help screen the applications for the job through references given by other registered members of the website.
According to Ma Foi-India Today survey, recruitment fees in India stood at Rs 4,500 crore in 2006, out of which only Rs 500 crore was through e-recruitment.
Though jobsites like Naukri.com and Monster.com have been in existence for a while, they only provide a platform for recruiters and job seekers, and do not give any assurance of the quality of recruitment, according to analysts. And this is where the employee referral websites have an edge, they say.
“At present, almost 25 per cent of the recruitment in companies is done through internal referrals, 50 per cent of the hiring is done through recruitment consultants, while 15 per cent is done through direct advertisements and the rest is through means like employee referral websites,” says Vikramjit Sahai, managing director of Yellojobs.
Recruiting websites built around referrals include Techtribe, Reffster, Yellojobs, etc.
Filed under: Business
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