Employee referral services are gaining significance as recruiters and employers struggle to get requisite workforce. Acquisition of employee referral technology provider EmployUs by Hireology, which helps build and manage human resources, is a recent transaction aimed at turning employees into recruiters to accelerate applicants flow.
Founded in 2009, U.S.-based Hireology offers tools and processes to source, select, verify and hire team workers in one site. It has so far served more than 7,500 businesses from retail automotive, healthcare, hospitality, and professional and consumer services.
Taking EmployUs onboard means access to a range of channels including Google, Facebook, and job boards for talent acquisition, according to an announcement. Terms were not disclosed.
It also enables Hireology’s customers to design referral programs, encourage participation from employees, get referrals and manage rewards.
“As the economy reopens in the wake of the Covid-19 pandemic, employers face a new challenge: finding enough people to hire,” said Hireology CEO Adam Robinson. “I’m excited for our customers to see firsthand how running a successful employee referral program can help build a more robust talent pipeline and accelerate hiring.”
Founded in 2015, U.S.-based EmployUs serves more than 100 enterprises across 50 countries. It claims to boost employee referrals by 50 to 200% and reduce hiring costs.
The acquisition came before acquisition of referral software Drafted by recruitment marketplace Instawork. Referral startup Candidate.co also recently received $4 million in seed funding.