With a network of 3 million people,SpringRole offers $5 –$20 per job referral
Job hunting is a tedious process for both prospective hires and the company looking to hire. Going through thousands of resumes to find ideal candidates and generate top quality leads for the interview stage requires immense manpower and time.
An alternative to this, which has worked well for most companies, is employee referrals. Here, current employees go through their personal networks to identify potential candidates the company could hire. Employees gain incentives from the company for providing good leads or potential hires.
So far, only employees within the same company could refer friends for a job at their company. SpringRole is a platform where anyone can refer someone from their network for a job at one or more of the companies listed on their portal, and earn incentives.
SpringRole and how it works
For employees and job seekers
The platform is free for employees and job seekers to check out various job postings and their requirements. The only way to apply for a job, though, is to get a friend to refer you.
Users can sign in with their LinkedIn accounts, and add their Facebook, Twitter, Quora and other accounts, so they have a larger pool of people they could refer. Users are also given a SpringRole score, Loyalty Score and Social Media Score based on the strength of their social media connections, interactions and activity. The job applicants’ chances improve if the friend referring them works in the same industry and has higher scores in the above parameters.
Companies need to pay a fixed monthly subscription fee to post one or multiple jobs on the the platform. Each company has 3 different monthly packages: Basic, Gold and Platinum priced at ₹5,999, ₹11,999 and ₹29,999, respectively. After posting the job, SpringRole will receive applicants for the same through their targeted and marketplace referrals.
Targeted referrals is the primary way they find referrals. SpringRole’s algorithms find people whose contacts carry skills that match up with listed jobs. Then, they reach out to those selected referrers through established channels like LinkedIn, Facebook, Twitter and iOS push notifications to see if they’d like to vouch for their matching connections and refer them. They get plenty of job matches, but it’s only the candidates with a trustworthy referral that make it to the next stage.
Marketplace referrals arrive organically from their social growth hack initiatives. Shares and ads on Google, Twitter, and Facebook drive traffic to SpringRole.
The next step is the Candidate Opt-in, where they ask potential candidates if they’d like to be considered for the new opportunity, and move those interested to the final curation.
RippleHire is for employees within the same organisation. It works on the concept of ‘Social Referral Games’ to bring in matches.
InterviewStreet (HackerRank) focuses on hiring programmers. They have successfully helped companies like Facebook, VMware, Evernote and Yahoo in the hiring process.
PotKnox is a cloud-based skill assessment tool, which provides pre-interviewing screening solutions for recruitment in the IT industry.
And, on HackerEarth, participants have to compete in coding challenges, where they’re recruited based on their skills.Their website claims to have helped over 1000+ companies like Adobe, InMobi, Freshdesk, Flipkart and Amazon recruit.
Founders Benoit Vatere and Kartik Mandaville met at Science Inc., the Santa Monica-based holding company of early-stage technology firms while Mandaville was interning there. He found they had common interests and passions, which eventually led to setting up SpringRole.
With ten years of entrepreneurial know-how under his belt, Vatere brought to the table cross-functional expertise in technology, sales and operations. His experience came from founding tech companies popular.fr and magnify360, before taking over network and monetization at LookSmart. Most recently, at Science Inc., Vatere organically built SpringRole’s referral and hiring system, while executing recruiting at Science Inc.
Mandaville took over as the lead techie at Science Inc. working with new companies, designing their tech stacks, doing database architecture and building scalable web servers to handle high traffic. He even built the Science India Team of 25+ software and product engineers, all working across Science’s portfolio. Currently, he is the CTO of SpringRole.
Mandaville did his under graduation in Computer Science from MIT, Manipal, India and then went to Carnegie Mellon University to pursue a Master’s in Language Technologies Institute, focusing on big data, machine learning and neurolinguistic programming.
Mingyang S., Hank H. and Zhenxiang L have a depth of experience in big data and machine learning and are the Co-Founders- Engineering SWAT Team at SpringRole.They were also classmates with Mandaville at Carnegie Mellon.
Successes so far
The website states they’re trusted by companies like Uber, SpaceX, SnapChat, & etc.
Mandaville and Vatere started this initiative to help out both employers and job seekers in India and USA. The pain point they’re trying to solve is finding qualified matches for companies quickly.
In the short time since their launch, they’ve tasted success with many noteworthy clients and created a network of nearly 3 million people. They also have testimonials and reviews from users who’ve earned revenue through their portals. Mandaville told us about two users who had made INR 18,000 and INR 42,600 in a month, respectively, by just referring people.
Their future plans are to focus their efforts and expand in India and USA.
Website : SpringRole