CAREERBOAT - a job referral marketplace

• Employee referral software market is expected to grow at a CAGR of 12.70% by 2029
• According to majority of the recruiters, employee referrals are the top source of hires
• It obviously helps reduce friction in the hiring process

Problems in job referrals

• The success of an employee referral program depends on the engagement of employees and the quality of referrals, so spam referrals won’t work well for us.
• The lack of diversity in employee networks can limit the diversity of referrals

Opportunities

• The global employee referral software market offers growth opportunities for companies that prioritize sourcing new talent through an employee referral program( this includes only employees of a company referring someone in their network, not anyone can refer here)
• Incentivizing can play a big role for people with good established network.

Potential Users

• Companies of all sizes and industries that are looking to streamline their hiring process and tap into a wider pool of potential candidates.
• Anyone who has a good network, works in HR, or alumni relations of prestigious colleges
• Anyone who is looking for a job or job for a friend

Existing Competitors

• Global employee referral software providers such as Jobvite, Zao, and Workable
• Other job referral marketplaces such as HiredReferral, ReferralMob, and RolePoint
• Not everyone is good at finding jobs, people just go and search on Google or LinkedIn most of the times, in my circle I am the one who’s good at finding relevant opportunities as I keep a track of multiple platforms, so it would pump me up if I would get rewards for referring someone, I have already referred 2 of my friends for internships but, got nothing in return monetarily.
• Quality job posting is required, half of the jobs on LinkedIn are promoted or spam, so partnering with trusted brands will help us scale.