Bountiful, a US-based HRTech startup, has unveiled its “Referral-as-a-Service” platform, designed to transform traditional hiring networks and streamline the recruitment process. The revolutionary platform aims to tap into employee referrals’ power, harnessing existing networks’ potential to find top talent more efficiently and effectively.
With the persistent challenges faced by companies in finding qualified candidates, Bountiful’s Referral-as-a-Service platform presents a fresh approach to talent acquisition. By utilizing the power of employee referrals, it enables organizations to leverage their workforce’s connections and expand their reach in the talent pool.
Bountiful provides a seamless and user-friendly experience for both employees and employers. Employees can easily refer potential candidates from their networks through the platform, enabling them to play an active role in the company’s hiring process. Its platform utilizes advanced algorithms and data analytics to match referred candidates with suitable job openings within the organization.
Speaking about the development, Scott Sinatra, said:
Network effects are powerful; unlocking them can help companies recruit talent faster. We know that referrals are one of the most efficient sources of quality hires for employers today, but they often need to be more complicated to manage and utilize. We are on a mission to change that. With Bountiful, early customers have gone from 75 days without filling a role to four qualified and diverse finalists in 21 days.
Through this streamlined approach, Bountiful aims to significantly reduce time-to-hire, enhance candidate quality, and increase employee engagement. By engaging employees in the recruitment process, organizations can foster a sense of ownership and promote a culture of collaboration.
Bountiful’s Referral-as-a-Service platform offers a range of features and tools to optimize the referral process. These include personalized candidate tracking, automated referral reminders, real-time analytics, and rewards and recognition programs to incentivize employees for successful referrals. It also integrates with popular applicant tracking systems (ATS), ensuring seamless integration with existing HR infrastructure.
With the launch, Bountiful is poised to transform how companies approach talent acquisition and tap into the power of employee networks. As organizations recognize the value of leveraging their employees’ connections, this initiative offers a powerful solution to activate hiring networks, optimize recruitment efforts, and ultimately secure top-tier talent in a competitive job market.
The company is backed by High Alpha and Acadian Ventures.