Articles

Why Now Is the Time for Referrals to Become the No. 1 Way for People to Find Jobs

Let’s face it, whether you’re a candidate looking for a job or a company looking for talent, the process sucks. That’s why we’re on a mission to change it.

How? We’re making referrals the No. 1 way for people to find jobs.

Why? Because referrals have a proven track record of delivering exceptional results for both companies and candidates, but currently only account for a small percentage of all hires.

That’s why we’ve developed the technology and are building the network to supercharge the referral process and greatly increase that percentage to the point where referrals become the No .1 way for people to find jobs.

The stars have aligned for referrals to explode!

To bring referrals into the mainstream, three critical elements must be in play: a vast network of specialists, unwavering referrer motivation, and the right technology to bring it all together.

The network of specialists 

The last 10 years has seen extraordinary growth in professional networking. During that time, the world’s largest professional networking platform, LinkedIn, has grown from 200 million members to almost 1 billion and the average number of connections per Linkedin profile is 500-999.

We’re also seeing a movement towards employees and business owners becoming content creators and investing a lot of time and effort in building their personal brand and growing their following.

The significant surge in professional networking extends beyond just social media. Over the last few years, online communities have undergone remarkable growth. 

Since the onset of COVID-19, participation in online communities has seen an astonishing 81% increase, with a remarkable 76% of all internet users now actively engaged in these communities.

Another indicator that the future will be community-driven is the focus on community-related features from the tech giants. Slack, WhatsApp, LinkedIn, Reddit…are all focusing on empowering community owners and members with the features they need to build a thriving community and facilitate meaningful interactions. Reddit alone is home to more than 130,000 active communities.

We are building a super network of talented individuals and the best communities out there in order to harness the untapped referral power of professional networks and make referrals the No. 1 way for people to find jobs.

Motivated referrers

With interest rates soaring and the cost of living crisis not going away anytime soon, the financial demands people currently face in their day to day lives have never been higher, but it’s not just about surviving; people are seeking opportunities to thrive. 

So what are they doing about it? They’re starting a side hustle!

The rise of the side hustle is a global phenomenon impacting all demographics all around the world, especially the younger folks, with over 70% of Gen Zs now having some kind of second income.

The majority of people are looking for new opportunities to flex their skills, leverage their connections and earn extra income, and that’s exactly what we’re giving them with WorkFolk. 

Money is part of the motivation, but people also really want to help other people in their professional network. You only have to scroll through LinkedIn for a few minutes or browse a few online communities to see a huge number of people looking to help people in their network find a new job, especially if they’ve been impacted by the huge number of recent layoffs.

Referrer motivation is currently at an all-time high and is going to continue to grow.

The technology

You have the network and you have the referrer motivation, but without the right tech it won’t work.

For companies, it needs to be super easy to post roles, receive quality referrals, request introductions, track their progress and manage referrer payouts.

For referrers, they first need to be able to find the roles and then easily make their referrals and get rewarded quickly and fairly.

We’ve built the tech to do all of the above and make referrals mainstream.

The referrer motivation is clearly there and we’ve developed the technology and are building the network to supercharge the referral process. Which is why now is the time for referrals to become the No. 1 way for people to find jobs.

We’re building WorkFolk our own way and breaking as many rules as possible in the process. 

Our mission isn’t just to change the way people find jobs, it’s also to make people laugh.

So give us a follow and we promise to keep you entertained, whether you’re laughing with us or at us.

Follow us on LinkedIn, TikTok and Instagram.