Tata AIA Life Insurance, a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd., combines Tata’s leadership in India with AIA’s extensive pan-Asian presence. With a strong emphasis on their core value, "People – Our Core," Tata AIA is committed to building a strong employee-centric culture that prioritizes the growth and well-being of their staff.
Recognizing the need to innovate their talent acquisition process, Tata AIA partnered with RippleHire in 2019 to launch the iRefer program. This partnership aimed to tackle the hiring challenges such as high attrition rates, remote location sourcing, and difficulty in attracting candidates for front-line sales roles.
The iRefer program introduced a mobile-friendly, gamified platform that empowered employees to share job openings on social media, effectively reaching passive talent. By leveraging the existing employee network, Tata AIA improved the quality of referrals and also significantly reduced hiring costs and accelerated the recruitment process.
Through the innovative referral strategies, Tata AIA utilized the power of their employees, reinforcing their core value of "People – Our Core."
The success of the iRefer program highlights the transformative impact of employee referrals on talent acquisition, setting new standards in the industry.
Read more to discover how Tata AIA's iRefer program achieved remarkable results and set new standards in the industry.
Referral Hires
Employee Participation in referral program
Offer to Join Ratio
Tata AIA Life Insurance Company Limited, a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA), stands as a beacon of leadership in the Indian private sector insurance industry. Combining Tata’s preeminent leadership in India with AIA’s position as the largest independent listed pan-Asian life insurance group, Tata AIA has established itself as a major player in the market. However, despite its robust position, the company faced significant hiring challenges that demanded innovative solutions.
In 2019, Tata AIA embarked on a transformative journey by partnering with RippleHire, a leading talent acquisition cloud provider, to revolutionize its hiring strategy. This partnership aimed to address the pressing challenges in the life insurance sector, such as high attrition rates, remote location sourcing, passive talent pools, difficulty attracting candidates, and high offer dropouts. The innovative solution emerged as iRefer, a gamified employee referral program crafted to harness the power of Tata AIA’s vast employee network.
The life insurance industry in India, while flourishing, grapples with unique hiring challenges:
Addressing these challenges was crucial for Tata AIA to build a high-performance work culture, drive employee engagement, and maintain a competitive edge.
The iRefer program, launched in collaboration with RippleHire, introduced a comprehensive, gamified employee referral platform that revolutionized Tata AIA’s talent acquisition process.
The program focused on several core objectives:
1. Reducing attrition
In the people-driven insurance industry, retaining quality talent is essential. iRefer aimed to tackle attrition by attracting and engaging top candidates through employee referrals, a channel renowned for its higher retention rates.
2. Attracting talent through social distribution
Recognizing that today’s talent pool resides in micro-social communities, iRefer leveraged social media to reach passive candidates. Employees could easily share job openings on platforms like WhatsApp, LinkedIn, and Facebook, broadening the reach to potential candidates within their trusted networks.
3. Reducing hiring costs
Tata AIA cut hiring costs by moving from expensive vendors and job portals to employee referrals. The program motivated employees with cash rewards and exciting prizes, leading to high participation and better referrals.
4. Fast-tracking the recruitment process
iRefer sped up recruitment by building a ready talent pool nationwide. The mobile-friendly platform allowed for quick referrals and fast processing, ensuring a faster hiring process.
5. Engaging distributed workforce
Tata AIA’s distributed setup posed a challenge in engaging employees across multiple locations. The iRefer program utilized targeted communications and creative campaigns to involve employees actively in the referral process, fostering a sense of ownership and engagement.
2019: Program design and launchThe initial phase focused on creating awareness and understanding of the new iRefer platform. Employee awareness campaigns, clear communication of program benefits, and a fresh brand identity helped overcome existing sentiments towards previous referral programs. 2020: Driving awareness and adoptionTo engage the distributed workforce, Tata AIA introduced SMS as a communication channel, reaching employees across 1,000+ locations. Simplified referral processes, allowing employees to share job openings with a single click, encouraged widespread adoption. 2021: Targeted sourcingThe program evolved to include cohort building, identifying target communities based on demographics, location, and job type. Tailored communication and job sharing to these cohorts ensured more relevant and higher-quality referrals. 2022: Efficient candidate processingA dedicated processing engine was implemented to manage the increased volume of referrals. This ensured timely responses and optimized candidate evaluation, enhancing the overall experience for both candidates and hiring managers. 2023: Sustaining engagementTo maintain consistent engagement, Tata AIA introduced thematic events and contests (e.g., Friendship Day, Women’s Day) with attractive rewards. Leaderboards and social recognition fostered a competitive spirit and encouraged participation.
The iRefer program has had a profound impact on Tata AIA’s talent acquisition strategy:
The program’s success has set new standards in the industry, demonstrating the transformative power of innovative referral strategies.
Moving forward, Tata AIA plans to further enhance the iRefer program by leveraging data and analytics, exploring new gamification elements and reward structures, and expanding the program’s reach to a broader range of roles and locations.
Additionally, the focus will include leveraging employee referrals for hiring insurance agents, targeting alumni, teachers, accountants, and housewives, thereby propelling the program into new growth areas.