Attrition. That’s the basic problem in India. Its just rising and rising and there doesn’t seem to be a way to slay the beast or even slow it down.
Even worse, is to attract new talent. The company might have an impressive brand equity, but its still all the same. When it comes to talent hiring, and even finding, brand equity doesn’t count for much.
All on top of this, there is yet another big problem. The inability to verify sources, credibility, and if the talent you just hired, is what you are looking for. Knowing “something” could mean so many things – as much as swimming in the sea and deep sea diving, and anything in between. I have had this discussion with folks, discussed it got tired of it and almost thought no one was going to do anything about it… then, it seems someone was listening.
A few days ago, I spoke to Rohit Agarwal of Techtribe. “Frontfoot” he said was going to solve all the problems that I just mentioned. There is mystery and magic to innovation, almost as a magician pulling a fluffy bunny from within a simple hat. But yep, there is also a fine trick which is the least defiant of any physical laws, that make us frown at ourselves when we understand the principle. It was very much one such situation.
Social networking is a craze. Verticals of social networking sites are popping up. Starting with one for dating and friendship, to schoolmates, to professionals – techtribe being a case of the latter. If Professionals are connected, would making someone know of a job raise the chances of finding a good hire (using referrals)? Would the matter of knowing the said person (making the referral) in the network – through his past interactions and posts – help in evaluating the judgment that he is passing of his acquaintance when recommending him for a job.
Those are probably the questions which went through their mind and It seems like they might have hit the right chord here.
The best part is even still. If you recommend someone and they get hired, you get paid. And you get someone to join the network who gets hired, you get paid as well. Somewhere secretly, for every friend of yours who gets a new job, you could be getting paid and still asking them to cover the bill for the party thrown on behalf of the new job. Perhaps I spoilt the plot to a story of betrayal somewhere.
But in all seriousness, I agree with Alok Mittal when he says that this is a good example of what can be done with social networks, to add value. I second that.