A SHORT STORY
A candidate of mine, (I’ve placed this guy twice).
He called me up late last year.
I thought he was looking to move again.
But, he wanted to get my thoughts on a new recruitment solution he developed.
I’m thinking – a recruitment solution?
This guy’s not even in the recruitment Industry, he’s in the insurance Industry.
Check this out.
His recruitment solution is like, a truck that was built with parts from different car manufactures – parts from BMW, parts from Mercedes, parts from Maserati and parts from Ford.
Picture that for a second.
So, basically, his recruitment solution is built from successful business tactics - from other Industries.
Let me give you some examples:
1. Recruiting - it uses online-dating matching technology from eHarmony
2. Screening, selection and interviewing - is from machine learning and artificial intelligence used Amazon
3. Sourcing is from discarded job applicants from 100s of employers’ job advertisements
4. Pricing - same model used by Walmart
5. Professional networking – same concept from LinkedIn, but with a revenue component
6. Distribution – same model used by Uber
7. Compensation – same model used in the Insurance Industry
Here's the challenge:
The database needs to be populated with passive candidates, to feed the artificial intelligence machine. (You cannot submit their resumes, individuals will have to self-import their information by completing an online questionnaire).
If a big company with lots of cash get their hands on this recruitment platform, in a few years employers will no longer need to recruit talented employees and individuals will no longer have to search for jobs.
That probably will happen eventually. But in the meantime, there is a window of opportunity to make some serious cash.
My input in the conversation - was that he should sell recruiters on this concept.
I told him that recruiters were the early adopters of LinkedIn. They were the ones who put LinkedIn in the position that they are in today. And since they are already in the business; this is another tool to generate additional and recurring revenue for agency recruiters.
That’s why I am reaching out to you.