ChumBonus Revolutionizes Employment Seeking By Leveraging Power of Social Networking

ChumBonus Revolutionizes Employment Seeking By Leveraging Power of Social Networking to Incentivize ìThe Crowdî

ChumBonus is changing the way people find new job opportunities and companies find job applicants by leveraging the power of social networking to incentivize everyone on the internet (ìthe Crowdî) to actively participate in the job placement process. ChumBonus is a referral-based employment site that enables friends and family to refer candidates to potential jobs AND offers the referrer a bonus for participating in the process. Itís the employee referral bonus program gone public.

In todayís tough job environment, those seeking employment want all avenues available to them – and that includes using their network of friends, family and colleagues. At the same time, companies are moving away from the big job boards to more cost effective and efficient means of identifying applicants. The explosion of social networking and business networking applications opens doors that didnít exist in the past. ChumBonusí unique referral-based approach expands a companyís applicant pool deep into the Crowd, and rewards those in the Crowd who refer their friends with bonuses.

ìOur mission is to become the premier job site where your network of friends and family can help you find a job and where they can earn a ëreferral bonusí for themselves,î states Barry Dwyer, co-founder of ChumBonus. ìThis model takes advantage of the explosion of online social and business networks like LinkedIn and FaceBook which have greatly expanded the interconnectedness of everyone. Itís an innovative approach that brings job seekers, referrers and employers under one roof to help fight the countryís highest unemployment rate in recent history.î

ChumBonus encourages referrers who earn bonuses to donate a portion to the charity of their choice. Users of the system can suggest charities to add to the list of approved ones and can elect to send some or all their bonus to that charity.

According to a recent survey by CareerXRoads, referrals (employee, alumni, vendor, etc.) make up 27.3% of all external hires; and is arguably the number one external source for job placements. The efficiency of referrals is one of the single most important characteristics of US hiring practices. ChumBonusí model will further the effectiveness of job placements.

How ChumBonus Works
The process is simple:

1. A client posts a job on the ChumBonus site for free and declares a bonus amount they are willing to pay to the person who refers the candidate that is ultimately hired by the client. The bonus acts in the same way an employee referral bonus works within a company. Clients can also elect to designate an amount they will donate to charity when a hire is made.

2. The referrer checks out the ChumBonus site and looks for job listings that match their ìchumísî qualifications.

3. With a click of a button, referrers can send a link to the job description to their chum.

4. The chum reviews all the details about the job and applies right on the ChumBonus site.

5. From there, the potential hirer reviews the candidateís resume and decides if the applicant is a viable candidate for the job and if so, initializes their internal screening process.

6. When the applicant is hired, the referrer receives their referral bonus – usually within four weeks.

7. As an added feature, ChumBonus enables referrers to donate a portion of their referral bonus to a charity of their choice. Users simply choose this option on the ChumBonus site.

For employers, the best way to find employees is through employee referrals. ChumBonus extends a companyís referral network beyond the company walls to include The Crowd. Employers post job listings on ChumBonus for free. There is no subscription cost or registration fee. Along with the posting, clients specify how much of a bonus they are willing to pay to the person who refers them the candidate they ultimately hire. ChumBonus charges a percentage fee on top of the bonus amount, however, the bonus and fee are only paid if the client successfully hires a candidate that is referred.