is a unique peer to peer job referral network which helps people earn money by referring jobs to their friends, relatives, or any know person.
By doing so they can earn Karma money which equates to real world money and it's the cold hard cash you seek.
Mumbai, India–March 10, 2014– The
biggest issue for companies today is sourcing highly relevant candidates for
their jobs. While job boards and even social media websites allow companies to
locate potential candidates, reaching highly relevant profiles continues to be
a major challenge, as profiles aren’t updated, contact details are inaccurate
and more.
Enter MyRefers.com, a start-up hoping
to spread good karma by helping job candidates and companies find each other.
The company was created by Lalit Bhagia, an innovator who previously built
large digital businesses from scratch for companies like STAR TV and Digitas.
The Art of ‘Karma Recruiting’
Research indicates 72 percent of
people are always ‘open’ for a job but not necessarily ‘looking’ for a job,
these candidates do not actively access job-search platforms. Difficulty only
increases over time in reaching out to these candidates.
The good news is that a majority of
people spend several hours each day on social media sharing information with
friends and connections. MyRefers’ unique concept of “Karma Recruiting” relies
on person-to-person connections through social media to help friends refer one
another to dream jobs they never even knew they were looking for.
Karma
Recruiting has two key components:
First it
uses the power of people's social media connections to help companies hire.Social
media platforms are designed to allow people to refer and recommend friends all
the time to everything from food to movies to cell phone carriers and even
jobs! They do this, in part, because helping a friend brings good karma!
Secondly
it helps companies add a new and possibly the most effective source of hire i.e.
external referrals. Referrals have long been the best source of hires for
companies. But until now, referrals have been limited to internal employees
only.
How it works
Karma Recruiting
takes referring external by harnessing the power of social media networking and
applying it to recruiting. At MyRefers,
friends take up the role of a career guide and refer
jobs to each other. They can even apply to a few they like. Companies post open
jobs on the platform for free. Each job comes with “karma money” (referral fee)
that gets paid when a member’s friend joins the job referred. Users on the
platform get access to those jobs and can share jobs with friends who apply if
they find the job relevant to them. MyRefers’ “karma engine” also prompts users
on best fitting friends for jobs.
Each
application received by a company will be filtered through seven circle TRUST algorithms
(to be introduced soon) that filter the candidates and recommend the best ones
for every particular job.
Good Karma
shouldn’t go unrewarded. So MyRefers created Karma Money and Karma Points.
Karma Money is real money members get for each successful referral. Today Myrefers has job postings from about 17
companies like Mahindra & Mahindra, Star TV, Wockhardt, Reliance Games,
Dentsuetc with karma fees ranging from INR 4k – INR 1 lakh/ job. Karma Points
are points earned for everything a member does on MyRefers, from inviting friends to discover jobs, referring friends and
various other activities that link to spreading good karma. The Karma Bank on Myrefers has a total of INR
1 crore + to be earned as karma money.
.
“Karma Recruiting takes referral
recruiting to the next level and is the new way to recruit the best talent for
your jobs,” Bhagia said. “We’re very excited to be able to offer this novel
approach to recruiting to an eager global audience ready for something better
in employment websites.”
Learn more about MyRefers at MyRefers.com.
Follow MyRefers on Facebook ( facebook.com/Myrefers ), Twitter (@My_Refers) and
LinkedIn ( http://goo.gl/1ov5HD ).
