i-Reference
The only way to safeguard your business via a unique reference checking process.
Introducing Synergy Global i-Reference
Do you reference? If so how detailed is your referencing? is it just Dates and Position or does it really tell you about the candidate? Does your referencing ensure a direct correlation with a high employee rate?
Referencing in today’s recruitment norm, of remote hiring, increased use of job boards, AI and ATS, when done properly is the single largest risk mitigator of hiring poorly.
Proper referencing is the only stage in a recruitment process now, that does NOT depend on data and information supplied by the candidate, but brings together data and metrics from third parties who have had first hand experience of the candidates. thereby creating a complete picture of the candidate.
Yet surveys have shown that over 90% of companies do not as standard, reference effectively, but rather at most only check the dates a candidate worked at a previous company, effectively gaining no useful data.
At Synergy Global i-Reference our independent reference service is:
- Independent and impartial - no vested interest in the placement of the candidate
Reference to justify - rather than reference to accept - Integral added value - True referencing, done well, adds value to every hire Intelligence and information orientated - Establish the truths
- Human led and technology assisted Cost effective and time efficient
The cost of a flawed referencing system is there for all to see:
A £42,000 poor hiring will cost the company in the region of £132,000 off the company bottom line to rehire into the same position. and an £80,000 poor hiring will cost the company in the region of £242,000 off the bottom line to rehire into the same position.
At Synergy Global i-Reference works:
i-Reference is a solution that works seamlessly with any talent acquisition team’s recruitment process in ensuring that there is an independent, quantifiable measure on every candidate, through an in-depth and positive referencing at an earlier stage of the recruitment process.
This is not ‘tick-box’ referencing process, but an in-depth set of interviews with those who the candidate has worked directly with in the past and provides evidence of trust / ethics / behavioural / communication / competencies as well as suitability to the role and potential development needs/support in that position, so as to enable the client to hire with a more complete knowledge of the candidate and reduce the risk of making a hiring mistake.
This is a service which compliments and enhances any regulated company's requirement to evidence their decision with regards to the regulators 'Fit and Proper Persons' measures which, in the UK, the FCA will have regard to a person’s competence and capability as well as their honesty, integrity, reputation and financial soundness.
i-Reference is wholly independent and as such is able to conduct all references and produce the reports with total impartiality and without any conflicts of interest. Focusing only on gathering the information on each reference.
There is a clear need given the new norm of hiring for an additional risk mitigation safeguard to be in place with respect to recruitment, to ensure as far as possible that bad hires are kept to a minimum and recruitment cost per hire is lowered through increased retention by hiring well 1st time, every time.
FAQs
Why is referencing important?
Referencing in today’s hiring model, is the only process, which when used properly, that brings togetherevidential data/information from third parties who have first hand experience of working with the candidate. It gives the company the ability to have a full 360º perspective of the candidate in advance of hiring them.
This is the only verification process, where the information and manner in which the candidate has ‘marketed’ themselves to the client, be it in interview, cv, social media, is confirmed a true and honest depiction of how they have operated/achieved previously. It is also the only process which will high-light specific developmental/support needs for the candidate in the role they are looking to be hired in to.
Referencing properly, eliminates or certainly drastically reduces the need for ‘gut instinct’ to be used when hiring.
What is the difference between Reference Checking and Referencing?
Reference checking is a simple process where base facts are confirmed, such as Criminal or financial checks, Dates and position in a company.
Referencing is the process where behaviours, competencies, managerial style, cultural fit, development and support needs, future ability to perform, levels of integrity and trust are established from independentsources (not necessarily, in fact very rarely, the HR department) who have direct experience of working with the candidate. Giving a 360º perspective of the candidate from multiple different data points.
Don’t all references have to be positive?
NO. References need to be ACCURATE, FACTUAL, HONEST. They must be given without bias or discrimination. So long as these criteria are met then a reference may have negative points in it.
For example: If a candidate has a trait of being habitually late - so long as it can be substantiated withevidence, this comment can be included in a reference report.
Surely if I receive a negative reference about a candidate, I can get sued?
No, so long as the reference has been given without bias or discrimination and the comments are accurate, factual and honest.
When is the right time to reference a candidate?
Most referencing is done after an offer has been made, which we consider to being too late in the hiring process. In a hiring environment where currently up to and making the offer, all the information used tomake that decision is derived from a single point of origin
- the candidate, Synergy i-Reference advises it is better to conduct the referencing at the shortlist stage after the first couple of client interviews but before making a decision as to who to offer.
What are the benefits of referencing at short-list stage?
Properly referencing at the shortlist stage, enables the company to have data from multiple sources to create a complete picture of the candidate in advance of making that hiring decision. It allows the company to be able to have clear comparison data between each of the candidates enabling it to make the hiring decision with greater clarity and certainty of fit.
Surely the candidate will only provide Referees are going to give glowing references?
Synergy i-Reference’s methodology ensures that this is not the case. We identify who the candidate’sreferees will be, not the candidate.
How is this referencing information obtained?
Synergy i-Reference uses a proactive and structured methodology, which is bespoke to each assignment.Questions are carefully crafted so as to identify all the behaviours, competencies, cultures and values thatare important to the client and the role.
In-depth and recorded (with permission) telephone interviews are then conducted with each of the referees ensuring accuracy of comment and data.
Synergy i-Reference uses telephone interviews over an automated email or chat system simply because the quality of data received is so much more in-depth and the opportunity for immediate supplementary questioning to be done, in order to 'dive deep’ into an initial answer given. This cannot be replicated currently through AI or email formats. Experience has shown that referee response to emailed questions is usually not more than 15 words in length, but through telephone interviewing, the response is 50 plus words per question, thereby giving a much fuller picture of the candidate for the client.
Why should I use an independent company to conduct the referencing?
Because using Synergy i-Reference as an independent and impartial company, there is no unconscious bias towards any of the candidates being shortlisted when the referees are being interviewed.
Unlike a recruitment agency, there is no additional financial gain for Synergy i-Reference to ensure that a candidate is hired, as such, the information delivered to the company will be accurate and honest, including any weaknesses identified.
Synergy i-Reference furthermore protects the client from receiving biased or discriminatory references -through dismissing any Referee who either deliberately or inadvertently makes biased, discriminatory or unsubstantiated claims about the candidate. Those reports are not given to the company and therefore donot form part of the data/ information on which a hiring decision is made.
Is referencing worth the additional cost?
Simply put. Yes.
Recent Recruitment and Employment Federation (www.rec.uk.com) report: ‘Perfect Match, Making the right hire and the cost of getting it wrong’, states the following:
‘A poor hire at mid-level manager level with a salary of £42,000 can end up costing a business £132,015’
’85% of HR decision makers admit their business made a bad hire.’ ‘2 in 5 new hires turn out to be bad hires in the first 18 months.’
‘1 in 3 HR decision-makers say bad hires occur because businesses need to fill the position quickly.’
’47% of those admitting to a bad hire think their in-house recruitment teams should develop candidate vetting processes.’
Referencing properly will significantly reduce the incidence of bad hires, through businesses having detailed information and data about the candidate prior to hiring, thereby reducing the cost significantly of having to re-hire. Referencing properly is one of the most cost effective processes when hiring.
Hire with data, Hire well, Hire once.
For further information on how Synergy i-Reference can create a real difference in your hiring, please contact:
Malcolm Payne malcolm@synergyglobalsolutions.com