You just made a hire and you found the perfect candidate for a job, but you also found two others that are almost as good. It was splitting hairs when it came to making the final decision, but you only had one spot to fill.
It’s an expensive and time consuming process to find the right person. Those two you didn’t hire cost a lot of money to find and you’re not the only person that thinks they’re good.
We provide you with a way to monetize your effort by enabling other companies to leverage the candidates that have already gone through the arduous interview process.
If you’re hiring, you have a way to take advantage of all the money and time your peers have invested in sifting through the abundance of candidates out there. You will immediately see what they view as the top 1%. We are giving you truly vetted candidates which others have vouched for.
The advent of the internet has been a double edge sword for the recruiting world, it has made candidates and jobs more accessible but with this accessibility has come a tremendous amount of noise. What started as breaking down barriers to entry for candidates has become a barrier for hiring managers.
20 years ago the primary resource for finding a candidate was through referrals. These were referrals that came from friends in the industry that could vouch for the quality of the person they referred, their name was on the line.
If you didn’t have a person referred to you, you would have to call a headhunter for help. They would call up competitors and lure candidates away. You knew they were good because they were fully employed and working for the competition. Now headhunters have the same access to candidates you do, they post the same job online and send you the same resumes. Sure they may have a 10 minute call with a candidate or a meeting with them. But they don’t know the industry or qualifications for the job as well as the most junior person on your team – yet they charge 30% of the first year salary for providing this service.
And you still wind up sifting through the same resumes and go through the same thorough interview process because the headhunter’s incentives are not aligned with you or the candidate. They just want to place someone, otherwise they won’t get paid.
These days an average job posting has more than 250 candidates who respond, for a more coveted job it’s close to a thousand. Most of those applicants are not qualified. Of the 70 or so you deem to be qualified on paper, an average of 40% will respond to you when you reach out. All your peers are also whittling away at the same recruiting funnel doing redundant work. This process cost 30% of the hire’s first year salary and the more senior the position the more it costs. The microstructure of this market is broken. All these valuable data points that are created along the journey of a candidate are being thrown away. We provide the way to capture this value and monetize it.