- Colony, a co-working space is offering an RM10k referral fee for anyone who successfully recommends a candidate that gets confirmed with the company.
- The initiative will apply for all CVs received within the month of February.
With the number of co-working spaces mushrooming lately, we anticipated a time where some of them might be pulling a few stunts to stand out from the crowded market.
Our mistake was assuming that these stunts would be directed towards getting customers.
Starting this month, Timothy Tiah and Audrey Ooi’s Colony co-working space will be offering RM10,000 to anyone who recommends a candidate who survives beyond a 6-month probationary employment period.
With some aggressive expansion plans mapped for the upcoming years, Colony is keen on looking for talented hires, and they’re looking to widen the pool a bit as part of an experiment.
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“If you think about it, companies often spend more on commissions for headhunters. So what we’re really doing is allowing anyone with the contacts to earn what a headhunter would earn,” said Timothy.
Colony wants to expand to 4 more locations this year, and are recruiting for:
- Community Managers
- Sales Representatives
- Project Managers
In their press release regarding the matter, Colony doubles down on the importance of service—said to be “a crucial part of the company’s identity”. You can read up a little bit more about this value from Colony here.
“A key condition is that we want to make sure we get someone really suitable, so that person we hire has to pass a probationary period of 6 months.”
These are some terms and conditions:
- The initiative will only apply for CVs received between February 1, 2018 to February 28, 2018.
- The reward will only be given out for hires made one year from the closing date.
- Self-referrals don’t count.
- You have to claim your reward within 3 months after your candidate gets confirmed.
Do note that any fraudulent or invasive spam could disqualify you. That also includes sending emails about people you don’t know.
You can check out the rest of the terms and conditions here.
It’s an experiment that the space is willing to try.
“The truth is that I don’t know what to expect in terms of the quality of the recommendations since it’s our first time doing something like this,” said Timothy about the decision. “However, it’s our job to filter and pick the best candidates for the job.”
We can see the appeal of the move. When they extend this offer beyond just headhunters, the team can potentially widen their pool of candidates beyond the headhunter database—by literally crowdsourcing their recruitment process.
This is just a public version of many hiring strategies held by other aggressively expanding companies.
If this experiment proves to be a success, Colony might decide to extend the offer in the future.
- You can send any CVs to email@example.com.
Feature Image Credit: Colony