Betts Recruiting, a market leader and a go-to platform for tech-related job recruitment, has launched a novel token called RecruitCoin. In an effort to revolutionise the recruitment industry, Betts has created RecruitCoin, and in so doing, becomes the first recruit-tech firm to offer incentives for participation, referrals and data.
How the Betts Recruiting referall system works
After the release of Betts Connect, users will be able to reward candidates to react to and drive engagement with the use of tokens. The company has chosen to employ blockchain technology because it provides an efficient way to track and manage data, thereby producing real-time incentives that can be used to build a talent network in any industry. The more active and interested a person is, the more RecruitCoins they will receive.
Betts Recruiting has outlined how it plans to run the referral program. Those participants (dubbed Betts Connectors) who actively contribute to expanding the talent network through referrals will be rewarded with the highest amount of RecruitCoin. Betts hopes to change the way referral networks work forever using this new cryptocurrency, by doing away with ineffective referral schemes like gift cards that fail to compensate the people who contribute to the growth of networks.
Recruiters, clients and applicants alike are all incentivised to maintain consistent platform usage through this token-based rewards system. Betts Recruit hopes that RecruitCoin’s volume and value to holders will increase in tandem with the network’s development. Over time, the company hopes to see increased concentration and output that leads to more positive referrals, interviews and, ultimately access to employment offers.
How can you use RecruitCoin?
Bett’s goal is to make RecruitCoin a non-inflationary token by enabling its holders to use the token to gain access to jobs and other opportunities. Also included are purchases through partner networks, including services like mentoring, software, mobile apps and even prizes. The partners can then use RecruitCoin to pay for Bett’s recruiting services or those of other partners, creating a self-sustaining economy based on the token.