It can not be known how much you might make for a specific referral without having information about the referral.  However we can provide some general examples and guidelines so you know what to expect.

Overall, each placement or staffing contract will have different levels of profitability depending on the circumstances.  Generally we look to credit 30% of revenue less direct costs to an account for referring a mandate that is filled and 30% for referring a successful candidate.  To do this we leverage the funds received from the client as well as the initial 5 year lockup period.  Overall this will generally be a few thousand dollars per successful referral.

As an example, most recruiting firms charge 20-25% or more of first year compensation for any permanent placement.  Using 20% as a baseline, on a $100,000 a year employee, the total payment to a firm would be $20,000.  If for example you referred the mandate or the successful candidate, you would be credited with $6,000 for this single referral (or if you referred the mandate and the successful candidate you would be credited with $12,000!).

As another example, if an individual was engaged on a contract basis, and the company was billing that individual’s rate plus $10 per hour, the gross profits would be approximately $20,000 over the course of the year ($10 ~2000 hours) and the amount that would be credited to the referrer would be similar to the previous example over the course of the year, $6,000 for referring either the mandate or the successful candidate ($20,000 x 30%).  Again to do this we leverage the funds received from the client as well as the initial 5 year lockup period.  In this case the total amount would be credited over the year, as the work was completed and paid for, instead of the one time credit in the first example.

It is important to note that these are illustrative examples, and actual referral credits could be more or less, depending on the specifics of the engagement.  In most cases a successful referral will result in several thousand being credited to your account.  It is important to note these are for one mandate or one candidate.

For the first year after you have referred us to a client, you will be entitled to the referral fee for any candidate placed with that client.  If for example we place 10 candidates with a client, using the above example as a baseline, if you receive $6,000 per candidate placed, you would be credited with $60,000.  Referring to clients with multiple requirements can supercharge your account!

While it always depends on the client’s needs, we often place multiple candidates with a single client.  This means you can earn multiple referral fees for a single referral to a client, which will likely mean tens of thousands credited to your account.

Firstly, you can make referrals to engagements or make referrals of candidates to gain a direct referral fee.  Additionally, you can make referrals of experienced account managers or recruiters, which we are always looking for, and we will credit your account for a referral.

If you know organizations that need entire projects delivered by a full or partial team, you can also refer those and receive a referral for that as well.  These are excellent for generating significant referral credits to your account as they tend to be larger transactions.

Finally, if you really want to accelerate the credits to your account you can refer your associates to this program and generate referrals credits from all of their referral activities.

We will credit your account with 1% of the value of any referral from someone you have referred to this referral program for the first five years of this person’s membership in the program.  Note that this does not take away anything from that individual, it only adds to your account.  If you refer several individuals to this program and they each make several referrals over the years this amount will greatly accelerate credits to your account.  For example if you refer 10 people over the course of your participation in this program, and they each make 20 referrals over their participation in the program, using examples similar to previous examples you would be credited with an additional $60,000 (10 people making 20 referrals with values of ~$30,000 each * 1%).  As you can see, getting others involved in the program can greatly accelerate the credits to your account.

You will be credited the referral amount when we ourselves are paid for the service.  This is important because quite often we are paid at the completion of our work, or over the course of the duration of a staffing contract.  We cannot credit your account until we have received funds from the end client.

Our approach is to build significant funds for you over the course of your career.  Once you are credited with any amount it goes into your account with an initial 5 year lock up period.  At 5 years you decide if you would like the full amount or if you would like the amount to remain in the account for further gains.

If you would like funds before the initial period has lapsed, we will do our best to provide you with a fractional amount.  We are able to credit your account with the amounts identified in the examples because we are able to leverage a 5 year period to generate returns on investment.  Without that 5 year period the amount available to receive will be less.  If you wanted funds immediately you would receive approximately 1/3 of the amount that would be credited in most cases.  Keep in mind that after 5 years you receive the full amount, representing more than the equivalent of 20% annualized return, making it well worth it.  If you would like funds sometime during the lock up after the immediate credit, we will calculate the fractional amount based on the time you request it.

You only pay taxes when you receive the amounts credited to your account.  This is an important consideration, as the year you receive the funds you will pay personal income taxes on the amount received.  Deferring amounts received for as long as possible can allow your account to grow under tax favorable conditions.

So long as you remain reachable at the email address you have provided you are eligible to participate in the program (also subject to the program’s terms and conditions).

In short, a referral is any direct action taken by you to connect us with a client that leads to closed business. This would commonly mean establishing open communications between Virthym and the client, which leads to an engagement and subsequent filling of that engagement. Some examples of ways to do this are:

• Arranging a meeting between Virthym and the business being referred;

• Causing the business being referred to reach out the Virthym by phone or email;

• A warm email introduction with the client and Virthym where the client is responsive;

In almost all cases, it should be clear what qualifies as a referral, when required we work with the client to confirm.

If you are aware of client who could benefit from our services, but aren’t sure how best to make a referral, let us know and we will assist you with completing the referral.

We provide a code that can be used to refer others to this program. Any time someone uses your referral code to join the program, you will receive 1% of the value of any referrals they make for the first five years they participate in the program. This 1% you receive doesn’t reduce the amount that the person you signed up is credited, and they also receive a credit of $100 for using your referral code, which they can access as soon as they’ve made their first referral.

If you have a marketing channel or social media following, you can use your code to leverage your networks, potentially resulting in significant amounts of credits to your account.

We encourage others to use a code or reference anyone who referred them to the program by crediting their account with $100, subject to them making a successful referral.  We also make clear that they receive the full credits to their account for their referral activities regardless of what might be credited to your account as part of referring them to the program.

In certain situations, it may not be possible for you to collect a direct fee or referral bonus for making a referral.  This would commonly be due to a conflict of interest, if for example you are making a referral to your current employer, which has a policy against employees receiving credit for making referrals.  In these cases, we will instead look to recognize your efforts in other ways.  This might include any of the following:

• Resume review services;

• Providing career advice from the perspective of a recruiting services provider;

• Connecting you with others in our network;

• Employment Contract review services;

• Free consultations in the areas of:

  • Recruiting.

  • Terminations.

  • Projects.

  • Resource Management.

  • Investing.

If none of the above services provide a fit, we will work with you or your organization to find an approach that fits your needs best.

This program has the potential to make you significant sums over the course of your career.  However great referral opportunities do not come around very often for most, meaning it will take time to generate large returns from this program, through keeping the program in mind and making a referral when the opportunity arises.  However, if you happen to have a large network or skills in sales or marketing you might be able to generate significant returns very quickly.

The program also relies on the initial lockup period, so for full credit you will have to wait some amount of time, keeping in mind you can receive an immediate reduced amount if you choose at any time.  So once making a referral, you will need to wait for some time in order to maximize your benefits from the program.

Beyond that, this program is so beneficial because of the original approach and the very rare blend of skills our company has available to make this work, which are very rare in our industry.

You can direct any other questions to us at any time through our Contact Us page.  We try to keep our FAQ updated and will update this page if multiple questions are asked regarding similar topics.

Please do not hesitate to reach out if you have questions or comments as we are always striving to make the program better and value your questions and feedback.