SOURCE: SelectMinds

SelectMinds

June 14, 2010 10:32 ET

SelectMinds Launches TalentVine Referral Recruiting Solution

New Product Helps Organizations Source the Highest Quality Candidates by Leveraging Trusted Social Connections

NEW YORK, NY--(Marketwire - June 14, 2010) - SelectMinds, a provider of Software-as-a-Service (SaaS) networking and referral technologies, today launched TalentVine, a referral recruiting solution. TalentVine enables corporations to tap into the social networks of current and former employees to accelerate their referral program with access to the highest quality employment candidates. Driven by a highly configurable job alert engine, this powerful tool enables recruiters to mobilize current and former employees by keeping the referral program top of mind and making it easier for them to refer candidates.

SelectMinds' TalentVine transforms referrals from a highly manual and time-consuming process for both recruiters and employees to a more innovative way of tapping into personal, trusted relationships to source qualified candidates -- without sacrificing quality. Unlike traditional referral programs, TalentVine puts the control into the recruiters' hands, giving them the tools to assemble an army of "virtual recruiters."

Key features of SelectMinds' TalentVine include:

  • Job Harvesting: TalentVine collects and centralizes all of a company's job listings without IT assistance, and also supports the ability to pull in jobs from multiple systems.

  • Targeted Job Alert Engine: Targeted jobs are periodically sent via email to a company's current and former employees via the job alert engine. The engine can be configured to automatically send jobs to a defined group of people, divisions, or departments at any time. Recruiters can customize outgoing messages or rely on TalentVine defaults. Current and former employees can also distribute easy-to-track links to connections via email, Facebook, LinkedIn and Twitter.

  • Candidate Capture: Interested candidates in the employee's network can click a link, taking them to a detailed job page. These candidates can then apply for the job, or continue the referral chain by sending it out to their own connections, or search for more open jobs.

  • Rewards Management: Employers can configure a bonus amount to be paid, differentiating between types of referrers (i.e., current vs. former employees) if applicable. TalentVine will collect all information needed for employers to make payments and notify the company when a reward is owed.

  • Activity and Performance Tracking: The system tracks all referrals, job views, and applications, enabling recruiters to monitor the success of the program and identify top referrers.

As the economy improves, hiring goals have increased for many organizations. More than ever, recruiters need to make sense of new social media and social recruiting tactics in order to find the best-fit talent.

"In the world of recruiting, referrals are widely viewed as the best way to source high-quality candidates," said Anne Berkowitch, CEO, SelectMinds. "With the release of TalentVine, organizations can now tap into the social connections of current and former employees and leverage them as a source of trusted referrals. TalentVine marks the launch of our first independent solution developed specifically to accelerate and streamline the recruiting process through referral networking, and we're excited to be able to offer our clients a product that will directly impact their recruiting efforts."

"The best way to maximize employee referrals is to leverage technology to deliver an exceptional experience to all parties," said Dr. John Sullivan, management professor at San Francisco State University and owner of HR advisory firm John Sullivan & Associates. "Using technology to support the referral process is the most cost-effective way to treat every referrer and referral with the respect and care warranted. Managed well, employee referral programs can deliver an unparalleled stream of qualified candidates more apt to stay longer, work harder, get up-to-speed faster, and boost morale."

About SelectMinds
SelectMinds delivers Software-as-a-Service networking and referral technologies that help companies leverage current and former employees as referrers of talent and new business. SelectMinds integrates the reach of social media with the power of a secure online community to build connections among alumni, current employees, retirees or diversity groups and utilize those connections to drive business goals including recruitment, new business development and brand management. SelectMinds clients include J.P. Morgan, ADP, IBM, Lockheed Martin, Latham & Watkins, Schlumberger, and Deloitte. For more information, visit www.selectminds.com.

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