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Leading tech recruiter revolutionizes the recruiting industry by leveraging the power of blockchain technology and cryptocurrency to incentivize its talent network
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Members of the Betts Connect network will accumulate cryptocurrency based on participation and engagement
Betts Recruiting (“Betts”), the leading technology recruitment firm in the go-to-market space, announced the launch of a first-of-its-kind token, RecruitCoin. All participants in Betts’ Connect talent network – the only online platform that allows clients access to a network filled exclusively with qualified, vetted professionals – will receive RecruitCoin as payment for being part of the network.
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“This token-based rewards system incentivizes the entire ecosystem of recruiters, clients, and candidates to keep engaged with our platform on a regular basis. In the long run, we expect to see greater focus and productivity, yielding more referrals, interviews, and, most importantly, jobs for so many more people in tech.”
Due to the deep roots Betts has with technology companies, Connect has become the primary access point for top talent to thousands of tech startups, many of which are not (yet) known to the larger market. The launch of RecruitCoin ensures that this talent is rewarded for their engagement and that candidates are incentivized to respond to potential job opportunities, accept interviews, secure placement, and refer other talented individuals to the Connector Referral program.
As of today’s launch, participants will receive tokens by signing up for Betts Connect and can use them as currency to incentivize candidates to respond and drive engagement. The more engaged participants are, the more RecruitCoin they earn. Betts Connectors who make referrals to help grow the talent network will receive the most RecruitCoin. As the tech talent network grows, so does the utility of RecruitCoin—magnifying its volume and value to holders.
With RecruitCoin, Betts is revolutionizing the traditional referral network by breaking away from rewards like gift cards and half-baked referral programs that forget to pay the people who are helping the network grow. Partners accepted into the Betts Connect Network will be given a unique referral code stored on the blockchain, and when a referral from their network signs up for Betts Connect, the Partner will earn RecruitCoin for each of those referrals. As a Betts Connector, you know you will be paid for referring your network to others. All Connectors will have the ability to earn residual RecruitCoin as their referrals engage with the platform.
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Betts aims to create one of the first non-inflationary tokens by allowing RecruitCoin owners to spend the token to unlock job opportunities along with spending it in our partner network on coaching, training, software, mobile apps and rewards. The partner network will then be able to spend the RecruitCoin on other partners or with Betts for recruiting services thus creating a closed loop utility within the ecosystem.
Carolyn Betts, Founder and CEO of Betts Recruiting said, “We are so thrilled to announce the launch of RecruitCoin. We believe that the recruitment process as a whole is in need of innovation in order to continue to build trust. Betts is changing the landscape of recruiting by being the first recruit-tech company that compensates people for their engagement, referrals, and data. RecruitCoin positions Betts at the forefront of this transformation, as blockchain technology and cryptocurrencies play a crucial role in shaping the future of the recruitment industry as a whole.”
Patrick Kellenberger, Chief Operating Officer and Chief Financial Officer of Betts, commented, “This marks a new chapter for Betts as we leverage our scalable market technology to revolutionize how talent networks are built. Referrals have always been at the core of growth but leveraging the blockchain offers a new way to track and manage the data, creating real-time incentives to be able to scale a talent network across any vertical.”
Mr. Kellenberger added, “This token-based rewards system incentivizes the entire ecosystem of recruiters, clients, and candidates to keep engaged with our platform on a regular basis. In the long run, we expect to see greater focus and productivity, yielding more referrals, interviews, and, most importantly, jobs for so many more people in tech.”
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