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Companies that are recruiting for open positions or contractor opportunities canchoose among many websites when posting their job descriptions. However, onlyFaceContact.com allows them to establish a referral bonus that will be shared by theindividuals in the referral chain that ultimately leads to a successful placement.
Companies can set their own reward levels, which range from $100 to $20000. Recentlythe total pool of available referral bonuses reached one million dollars.
We re thrilled with this new milestone, said Chris Brown, VP of FaceContact.com. Our site is the only one that helps companies find the job candidates they relooking for by harnessing the power of referral bonuses.
Mr. Abolmasov attributes the company s success to prominent trends in humanresources. According to the CXR 2007 Annual Source of Hire Study, referrals fromemployees, alumni, vendors, and other parties lead to 29% of all external hires.Industry experts often state that every third referral turns into a hire, butreferrals are not leveraged as well as they could be , despite their importance inU.S. hiring practices.
FaceContact.com is pioneering the phenomena of crowdsourcing and contingentrecruitment. This is a 360 approach that is designed to help companies use existingnetworks to obtain valuable referrals when recruiting. The expansion of socialnetworks like Linkedin and Facebook makes it easy to manage large numbers ofcontacts. FaceContact.com adds the lure of a referral bonus to these and otherpowerful networking tools, helping companies find their ideal job candidates morequickly.
FaceContact.com has received wide recognition on a global level for its innovativeapproach to recruitment and referral tracking. In March of 2008, it was recognizedas one of the Top20 European start-ups by YEurope, Metalab Innovation Center, BigBang Ventures, RISC Partners, i5invest, TechCrunch, GIMV ICT, Atlas Venture, andAlven Capital Partners. It was also chosen as a finalist in the 2007 Seedcampcompetition by Index Ventures, Benchmark Capital, Atomico, DFJ Esprit, 3i, TheAccelerator Group, Atlas Ventures, Partech International, Accel Partners, HighlandCapital Partners, Wellington Partners, and Advent Ventures.
Companies pay only for successful referrals after they have hired a candidate foundthrough FaceContact.com. Unlike many other sites that make companies pay for leadsthat may or may not lead to successful hires, FaceContact.com is results oriented,paying referral bonuses only after the recruiting company has made a successfulmatch.
