Bringing innovation to the recruiting industry is on the minds of many. According to Talentor Group, the company behind Beta.JobGo.com, it’s a $10 billion dollar market in the US alone with Monster making a more than 40% profit on the turnover. While there has been a mass movement to online services, many companies still prefer to use regular classifiers and at best, copy the traditional job advertisement in its exact form online.
While there are other ways to go about recruiting, be it job boards or head hunting, there are challenges to these methods as well. Only active job seekers attract different job boards. Furthermore, headhunting is a slow and tedious task – often not worth the investment unless we’re talking about C-level executives.
Talentor Group has come up with a solution to this in the form of JobGo. JobGo’s goal is to attract a better match between recruiters and passive jobseekers, along with the more active ones as well. How they do this, is that they’ve come up with an engine that is able to match passive job seekers through CVs to the advertised job position at hand.
JobGo goes a bit further than the traditional models out there. The filters used to match candidates with open positions include skill, demographics, personality and other job relevant factors.
People applying for jobs are able to post smarter CVs to the service as well. These CVs can include video presentations, results from a psychometric work personality test as well as bookmarking interesting companies they wish to work with.
On top of the features they have in their service, JobGo has built in an incentive model where people are able to become job agents. These agents are able to both invite people to the service, but also recommend jobs to their friends in return for financial compensation (if the person is chosen to the job). The bonus will be 10% of the recruiting price, ie. one month’s salary.
While Talentor Group has surely worked out a lot of market research to support their service – I can’t stop to think that surely there has to be more to innovation in the recruiting industry than simply incrementally innovating on existing models.
One opportunity JobGo has though, is to build fantastic tools for people to import their LinkedIn profiles and information from other services out there. If you’re a passive job seeker, you need to have the ability to enter the information into these sort of services automatically.
What JobGo excels at in my opinion, is its agent network. If they’re able to truly harness an army of people watching out for their friends in different industries – they might be onto a winner. Most jobs I hear about people accepting have reached them through friends so there’s definitely something in social layer of recruiting that ought to be innovated on.