Online employer-recruiter exchange.
Vin Dieselevey, aka Steve Levy, gave me a quick tour yesterday of a new eBay style site that allows hiring managers to sell their searches to recruiters. It seemed exciting to me.
Company X posts a job and a fee for filling it. Recruiter X says "I know someone like that" and offers to work it. The company then decides, based upon the performance data for that recruiter, if they want to engage the recruiter for the search.
Bountyjobs.com takes a 25% cut of the recruiting fee (for having brought in the business) when the recruiter makes a placement.
The fees can be good (into the 15-20K range) and can be negotiated higher once your online reputation as a supplier puts your services in great demand.
Problem for Bounty: What would stop anyone from discovering an employer via the site and then doing future business offline? Deez says that isn't a problem (and he can explain in the comments because I didn't get it).
I found the rating system limited. For recruiters, you see the number of jobs worked against number of placements. And for employers you see the number of jobs posted against the number of jobs filled.
I'd like to see comments that tell you that employer X moves so slowly on the interviews that you lost your candidate to another offer before she could hire and pay you a fee.
Deez claims, reasonably, that lousy hiring managers will have poor jobs-posted to jobs-filled ratios and this will send enough of a warning to the recruiting public.
Still, if I was a regular participant I might start a blog offsite called The Bountyjobs Backchannel. And, Deez says, "Go right ahead."
Contact Steve Levy at steve@bountyjobs.com or 646-329-9827 for a tour. It's worth the time.
And, yeah, full disclosure: Vin Dieselevey is an online pal but so what? I think a company like this is something everyone in our business should see first hand.
Cross posted to RecruitingBloggers.com
Problem for Bounty? NOT!
Animal is an online pal but so what? No arm twisting was involved during the BountyJobs.com (BJC) demo and he was free to write anything he so desired…
To answer his questions, let's look at the elements of recruiting that both parties don't like: Employers typically abhor supplier certification/vendor management and recruiters have a genetic dislike for marketing their services (I know there are more dislikes but these constitute a major part of both sides).
BJC obviates the need for both employers and recruiters to expend time and energy on the tasks they dislike and instead enables them to focus on the tasks that produce the best hires for the company. Also, since BJC tracks quantitative performance statistics on all searches (since you know I’m a metrics wonk, I enjoy this feature) we truly do have a way to assess the ongoing performance of employers and recruiters.
As a result, both employers and recruiters will be under the microscope to perform – future engagements depend upon this. However, once the two are engaged, unlimited communication is allowed between employers and the engaged recruiters. Thus, the process becomes as collaborative as the two parties desire.
So in response to the Animal's question - What would stop anyone from discovering an employer via the site and then doing future business offline? - the answer is double-edged: Nothing and so what? Since BJC not only enables communication between employers and recruiters and the market but also effectively takes into account the noxious elements of the employer-recruiter dyad, circumventing it would just add unneeded complexity to a process that has already been simplified.
I know there are many questions to ask so feel free to call me at 646-329-9827 or email me at steve@bountyjobs.com.
Posted by: Deez | Jan 04, 2007 at 06:39 PM