Become a bounty hunter: A new generation of social recruiters
- Published on 27 May 2013
- HR Pulse News Desk
Officially launched in 2012 by Greg Schneider, Hiring Bounty is an innovative online recruitment platform where an individual can earn a financial reward by referring a friend or business connection for a specific job position.
Hiring Bounty is a crowdsourced recruitment platform, which is based on the idea that referrals produce better-suited candidates and that social networks act as 'digital' CVs by giving details of a person's skills and aspirations.
The bounty system works in the following way: If a referral applies for the job and is selected as the successful candidate, he/she earns a financial 'bounty' and so does the person who originally referred the candidate.
The platform lists job vacancies in the marketing, IT and finance sectors. It can be used by employers, referrers and candidates.
Schneider says that the concept for this recruitment platform stemmed from continuous frustration with recruitment agencies.
“I was continuously targeted for positions I was ill-suited for and I figured that the market could do with something a little more innovative, yet simple,” he explains. “I am confident that this platform will revolutionise the recruitment process and the industry as we know it.”
Recruiters would be wise to explore this new bounty hunting trend as it offers the following benefits:
- Job vacancies are filled far more quickly and at a fraction of the cost of normal recruitment methods;
- Better referrals as friends and collegues tend to have a better understanding and grasp of the potential candidate's attributes;
- Lowers the risk attached to the recruitment process as employers only have to pay the pre-determined bounty once they have hired the ideal candidate for the job.
