Problem to be Addressed
As an alternative to paying recruitment agents expensive fees companies have started offering a flat rate internal recruitment fee that can be claimed by employees of the company if they find a candidate that is ultimately hired by that company (basically through their network).
E.g. Employees of Mega Insurance Co can claim £4k from Mega Insurance Co if they introduce someone who is successfully hired as a web designer of Mega Insurance Co.
The key advantages of this system are it is cheaper than using third party recruitment consultants and employees effectively pre-screen candidates as they already know them.
The problems are the systems are not widely used and employees can only get that internal fee if they know someone who can fill that role directly.
Sharefees as a Solution
Sharefees builds a social network around the philosophy that internal recruitment fees can be shared between a network of connected people cutting out any need to a recruitment agent.
There are two key elements to Sharefees:
- Sharing the Internal Recruitment Fee – An example of how this would work is as follows:
Carlos who is an employee of Mega Insurance Co doesn’t know a Web Designer but knows Jim who knows a web designer called Mary. The Sharefees system allows them to establish a chain connecting the job with Mary allowing the links in the chain to share the £4k internal recruitment fee between them subject to Sharefees retaining a 20% commission
- Personalising Finding and Sharing a Job – Traditionally people apply to a company name. In reality people work with people and the teams that they join are essential. Sharefees puts people’s faces to the company name. The aim being to personalise the application process and maximise the chance of sourcing candidates through networks.