LinkedIn was a game-changer for recruiters and made finding talent for your company a lot easier. Employers could read your resume, connect with your former colleagues and even check out your references – all in one space. However, over time LinkedIn has become a little bloated and finding the right people requires a lot more time and effort. In addition to this, many of the major “job board sites” here in the Nordics are filled with irrelevant jobs and employers complain that they receive irrelevant applications.
Jobylon, based out of Stockholm think they’ve found a solution to this problem and believe that “referrals” are the key. A referral on a job application/CV is nothing unique – but for some reason it is often overlooked and we’ve all seen ‘References can be provided if necessary’ before. Employers note that the best candidates always come from personal referrals and the best candidates are never officially ‘on the market’.
Jobylon has actually been online since 2011, when they launched a job board with social signals which has been relatively successful with over 100 companies (Canon, PwC etc) listing jobs regularly and turning a profit each month. After testing the idea of a finders fee, they realised that these small campaigns were so successful that they needed to make them a core feature of the product.
Jobylon let’s employers post social job listings and attach ‘bounties’ (read: finders fee) to them. As a user, I can refer my friends and if one of those friends is hired, I receive the bounty (cash, iPad mini etc).
“The company gets a new employee to their team, your friend gets a career boost and you get a reward for helping out. It’s a win-win-win” — Aref Abedi, CEO
I believe this is a nice idea and with the right execution – could definitely take customers away from the big players in this space. Job boards are a largely horrible experience so I look forward to seeing this progress over the next few months.