40 % of the coveted target group comes via employee recommendations
Most companies use external outreach to attract talent. FINANZCHECK.de takes a different approach. The online comparison portal has recognized that it can fill the gaps in the highly competitive specialist workforce primarily with recommendations from its own employees. This success is made possible above all by softgarden's digital employee referral program.
120
vacancies/year
31,1 %
hiring rate
40 %
employee referrals
About Finanzcheck.de
FINANZCHECK.de is an independent online comparison portal for instalment loans and private financial products that aims to bring transparency to the credit market. The platform combines technology and consulting expertise. Around 370 employees work at the Hamburg, Berlin, Munich and Braunschweig sites. As a technology company, the finance comparison portal primarily employs developers, but also around 200 employees working in consulting, for example bankers.
General conditions
Solutions in place
“The softgarden tool works really well, especially when the communication and the incentive concept are also right.”
Youth Wilken, Head of Recruiting at FINANZCHECK.de
Fierce competition for IT and finance specialists
The main target groups for the financial comparison portal are developers and advisors. They should have a technical understanding, a digital mindset as well as expertise and interest in financial products.
FINANZCHECK.de competes with other tech companies and banks when looking for employees. The company has to fight for technology specialists in particular – like all other companies. The competition is intense – especially at the headquarters in Hamburg.
HR experts such as Prof. Dr. Armin Trost (Furtwangen University) recommend the use of referral programs for recruiting such highly sought-after target groups. Employee recommendations have therefore played a major role in FINANZCHECK.de’s recruiting for some time now.
Initially, FINANZCHECK.de ran the employee referral program without software. “We had and still have an attractive, employee-friendly bonus system – employees receive 2,500 euros for a successful referral. However, the manual process was complicated,” recalls Youth Wilken, Head of Recruiting at FINANZCHECK.de.
Attract sought-after experts via employee recommendations
With this in mind, FINANZCHECK.de introduced softgarden’s referral manager at the beginning of 2019. The software can be used to easily and digitally map employee referral programs.
FINANZCHECK.de had previously tested various referral solutions. “Referral programs are always an interface and tracking problem,” explains Wilken: “Since FINANCHECK.de had introduced softgarden’s applicant management system six months earlier, we got a perfectly integrated solution here. In addition, the softgarden recommendation manager was in no way inferior to the standard stand-alone solutions on the market in terms of functionality.”
The recommendation manager is now seamlessly integrated in the backend of FINANZCHECK.de’s applicant management system. Recruiters can use it to distribute vacancies. The system is data protection compliant and automated.
The company can decide with one click whether to advertise a vacancy via the referral manager. Every employee who participates in the program is automatically notified when a new vacancy is posted in the referral manager.
Referring employees can then forward jobs via email, WhatsApp or Telegram, share them on social media or generate a link to share.
If someone applies on the basis of a recommendation, the recruiters see this in the applicant management system. If successful, a bonus is paid out.
Integrate and optimize your referral program – with the softgarden referral manager
FINANZCHECK.de was able to digitize and seamlessly integrate its existing employee referral system with the softgarden Referral Manager. The solution makes it easier than ever for employees of the financial comparison portal to recommend vacancies to friends and acquaintances.
- Recruitment through employee referrals: In customer consulting (the most important recruiting area), the company now generates 40 % of its hires through employee referrals.
- Increased quality of applicants: Applicants from employee referrals bring a much higher quality to the table. The hiring rate for recommendations in consulting is 31.1 %. For job advertisements, the rate is only 2.5 %.
- High hiring rates thanks to the recommendation manager: FINANZCHECK.de is particularly successful with recommendations in consulting, but also uses the recommendation manager for other applicant target groups. In other areas, the hiring rate is still very high compared to other channels – in IT, for example, it is 16.7 %.
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