Career Rewards, Inc. is First-to-Market With TeamRewards Internet-Based Employee Referral Management System.Business Editors/Hi-Tech Writers MCLEAN, Va.--(BUSINESS WIRE)--April 17, 2000 Based on Career Rewards' Successful Virtual Recruiting Community, New Value-Added Application Service Improves Corporate Employee Referral Programs Career Rewards, Inc. (www.careerrewards.com), a virtual recruiting community that helps companies fill technology jobs by paying $1,500 to $10,000 for successful candidate referrals online, today announced the release of TeamRewards(TM), a proven employee referral management system and value-added application service helping companies more efficiently manage their own internal employee referral programs and build loyal workforces. The TeamRewards application is based on Career Rewards' Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the system for generating, administering, tracking, and maintaining employee referrals. Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. professionals have long considered employee referral programs as the most cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. technique for finding and retaining loyal employees. TeamRewards is now available as an intranet/Internet-based, scalable way for companies to increase participation in employee referral programs. TeamRewards not only saves program administration costs, it reduces recruiting time-to-hire and cost-per-hire as well. "Incentive-based employee referral programs provide a steady and cost-effective source of high-quality, reliable candidates," said Doug Layman LAYMAN, eccl. law. One who is not an ecclesiastic nor a clergyman. , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Career Rewards. "In fact, just one additional hire per month through an employee referral program could save a company up to $180,000 per year over alternative methods. As employers have realized the benefits of the Career Rewards infrastructure as a public employee referral system, we received requests for a private-label version of our software that could be used to manage internal company programs. TeamRewards is customizable to the look-and-feel of corporate Web sites and can easily be integrated into a corporate intranet without the need for expensive in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. hardware, software, or information technology resources. It's simply a better, faster, and less expensive way to manage employee referral programs, improve employee participation, and reduce cost-per-hire." TeamRewards improves tracking of employee referrals, and rapidly processes candidates online through the entire hiring lifecycle. Candidates apply online through the company's own Web site -- the system automates every step of the process for employers, employees, and potential candidates. Additionally, employees view potential referral bonuses online and referral status at any point in time from any location. TeamRewards is customized to each company's image and corporate culture so that employees will find it familiar and easy to use, but it does not require any in-house Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. facilities. The system is intranet-enabled for all employees and scalable to account for company growth and expansion. Developed to assist Career Rewards' clients in realizing the full potential of personal referrals for building a high-quality and loyal workforce, TeamRewards has already been implemented by a number of organizations. "One of our biggest challenges is finding quality candidates for our demanding high technology positions," said Don Fitzpatrick, president of High Performance Technologies, Inc. (HPTi), an Arlington, Virginia Virginia, state, United States Virginia, state of the south-central United States. It is bordered by the Atlantic Ocean (E), North Carolina and Tennessee (S), Kentucky and West Virginia (W), and Maryland and the District of Columbia (N and NE). , a systems integration and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. firm specializing in the creative application of leading-edge information technologies. "We joined Career Rewards to take advantage of their virtual recruiting community because we understand that personal referrals are the most successful way to find and retain qualified employees. TeamRewards will serve as an extension of that philosophy, incenting our current employees to expand their personal networks and build a strong community within our company while reducing our cost-per-hire. We see our relationship with Career Rewards flourishing flour·ish v. flour·ished, flour·ish·ing, flour·ish·es v.intr. 1. To grow well or luxuriantly; thrive: The crops flourished in the rich soil. 2. in both regards." About CareerRewards CareerRewards has developed proprietary software that compensates individuals $1,500 to $10,000 for successful referrals on the Internet, creating a virtual recruiting community. By offering compensated referral programs, Career Rewards has discovered a scalable source of high-quality, passive job candidates. Replacing the traditional headhunter headhunter A popular term for a person–or employment agency who recruits physicians, upper echelon executives or other professionals, matching potential employees with employers with a proven referral technique and harnessing the potential of everyone using the Internet, Career Rewards is a better, faster, and less expensive source of candidates for employers. Career Rewards was founded in November of 1999 and launched in February of 2000. The company is headquartered in McLean, Virginia McLean is an unincorporated community located in Fairfax County in Northern Virginia. A small geographic area along Chain Bridge Road in Arlington County has a 22101 zip code and is also part of McLean. . For more information on referring candidates or listing job openings, please visit www.careerrewards.com or call 703/442-3110. |
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