NEW DELHI: Online job portal Yell jobs in partnership with NDTVjobs.com on Wednesday launched a new model to reward those who refer their friends to the posted jobs.

An employer can offer sizeable cash rewards to those who refer their friends to posted jobs under the 'YelloRewards' scheme.

The person who made the referral gets paid a minimum of Rs 5,000 if their friend gets the job, while the candidate benefits by getting hired for a higher salary.

While other portals charge a subscription fee from candidates, NDTVjobs.com will allow them to place ads for free provided they pledge a reward for referrers -- and companies actually pay only when they hire a candidate.

The Bangkok-based portal, which launched the website, also has a rating system for companies and those who refer their friends. Companies can access details of how many people were successfully placed through a particular person.

With over Rs 10 crore worth of rewards and 16,000 jobs already listed, Andreas Koestler, CEO Yello Ltd, is optimistic that at least 50,000 people will be placed within the first year itself.

"We have got a very positive feedback from several companies. It is a unique programme which has a triple win for all three -- the company, the referrer and the candidate. Anyone using the Internet can earn huge rewards through their social network," said Koestler.

"NDTVjobs.com brings immense value to our portfolio under NDTV Convergence and it complements our growth strategy," NDTV Convergence, the online entity of NDTV, CEO Sanjay Trehan said.