NDTVjobs.com has joined hands with Singapore-based Yellojobs.com Ltd to launch online referral rewards programme ‘YelloRewards’. The unique feature of this job network is that employers can offer cash rewards to those who refer their friends to the posted jobs.
YelloRewards is the reward amount that an employer pledges to pay to the person who successfully refers a candidate to his firm through NDTVjobs.com. An amount up to Rs 1 lakh is already on offer as reward for a high paying job meant for an ‘Amateur headhunter’ who referred his friend as the candidate. A whooping cash amount exceeding Rs 1 crore worth of rewards is already up for grabs for ‘Nethunters’, networkers and headhunters.
Sanjay Trehan, CEO, NDTV Convergence, said, “NDTVjobs.com is already a very credible name in the online job market. NDTVjobs.com brings immense value to our portfolio under NDTV Convergence and it complements our growth strategy.”
NDTVjobs.com anticipates placing over 50,000 candidates annually by this innovative model and crores of reward money will go to ordinary Internet users who refer their friends to new jobs.
Andreas Koestler, CEO, Yellojobs.com Ltd, said, “When we had the idea of combining recruitment referral systems with the power of social networking, we thought that the dynamic Internet market of India would be the ideal place to launch it. NDTV is exactly the right forward-oriented partner we need to take job advertising to a new level. Yellojobs.com brings its Internet knowledge and management expertise to the Indian public through NDTVjobs.com.”
Vikramjit Singh Sahaye, who heads the network in India, said, “Everyone can become a headhunter now. Ordinary people can simply help their relatives and friends by referring them to good jobs and making good money. Social referencing for recruitments is the future of the Indian recruitment industry, which is hungry for qualified professionals.”
Subhir Raha, President, AIMA, said, “The booming Indian economy is also leading to tremendous growth in salaries. The average growth in salaries was 14.1 per cent in the last two years and was much more in sectors such as IT, BPO and KPO. Over 69 per cent of our population is working. People and companies prefer online portals for recruitment.”
As most of the recruitment industry online is focusing on so called “active” jobseekers, the new system of NDTVjobs.com will help to activate those employees that are not active in the job market but can be motivated by their friends. By involving friends and their social and professional networks, exactly these “passive” candidates will be referred to new job opportunities. They are the high quality talent pool the recruitment industry aspires to tap all the time.