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T3 – Boon

Apr 19

This week on T3 I take a look at Boon. Boon is a new talent crowdsourcing marketplace. Basically, Boon is a referral marketplace for sharing relevant opportunities with your personal network. Ther are some others in this space, that do it a bit differently, but it’s basically a recruiting disrupter that cuts out the middle man.

Boon is set up a bit differently, by allowing agency and independent recruiters to set up a profile and work within their system as well. This would allow a recruiter, or any employee, to refer their ‘network’ to your openings. The real goal though is to allow anyone to do this kind of referring.

Membership is free, both for companies and for the individuals who sign up to refer candidates. If the employer hires someone via Boon, it’s billed $5,000. Boon then takes a 10% cut—and passes $4,500 to the member who made the referral.

5 Things I like about Boon:

1. Boon uses a matching algorithm to automatically match your network with jobs on their platform, so you don’t have to do the work. It then shows you who might be a good match, so you can decide which ones you want to refer easily

2. You could easily use Boon as an internal employee referral program. From the dashboard you can input all of your employees, they can decide if they want to tap their own networks, but the system makes it easy to share and match their company jobs to their networks, plus it also eliminates tracking and paying out of referrals.

3. From the referral side, Boon, auto tracks your referrals and the dashboard shows you where your referral is within the process, so you don’t ever have to wonder what happened to that person you referred.

4. Boon takes 10% off the top of the referral to the referring person, the company pays Boon directly. Currently, the Boon referral is $5000, but soon a company using Boon for employee referrals will be able to customize that amount as a percent of the hiring salary.

5. Boon also allows organizations to post their jobs privately, to only your employees, or publicly to all Boon users, in case you wanted to give your employees first shot at referring a friend or peer.

Boon is really simple to use and upload job descriptions. The matching technology to the referring user’s network sets it apart from similar technology on the market.  Well worth taking a look, especially if you don’t have any technology for employee referrals, this could be a very inexpensive alternative!

T3 – Talent Tech Tuesday – is a weekly series here at The Project to educate and inform everyone who stops by on a daily/weekly basis on some great recruiting and sourcing technologies that are on the market.  None of the companies who I highlight are paying me for this promotion.  There are so many really cool things going on in the tech space and I wanted to educate myself and share what I find.  If you want to be on T3 – send me a note.

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