September 06 sees the launch of RecruitmentRevolution.com, the UK's first fully functional online recruitment agency. The concept, which aims to abolish exorbitant recruitment agency fees so that more money from the client can be directed towards the candidates, was devised by recent graduates Jamie Mistlin (27) and Anna Taylor (24) after their poor experience of recruitment agencies. Co-founder Jamie Mistlin comments, “The concept for RecruitmentRevolution.com was born when I temped whilst studying for my degree: I was startled at the discrepancy between my hourly earnings and what the agency was actually paying for my services. It seemed obvious to reduce
the middle man fee allowing the client to pay less, with the candidate also benefiting. Frustrated by the narrow minded approach of agencies, Anna and I felt that companies and clients needed a more transparent platform on which to communicate directly without a greedy and interfering consultant.” As part of their research for the business model RecruitmentRevolution.com discovered:
· 95% of graduates resent the profits recruitment agencies make out of them
· 90% of graduates feel that agents do not act in the employees’ best interests
· 80% of graduates are rarely happy with the service provided by their recruitment consultant.
Traditionally companies have employed the following recruiting methods:
Recruitment agencies: a company pays an agency to market and manage the fulfilment of the role. Recruitment agencies charge a percentage of the employee’s starting salary. So for an average graduate earning £18,000[i], an agency charging twenty per cent can receive £3,600. Whilst a temporary worker might be earning £8 an hour, the client could be paying double that to account for the agencies’ commission. Online advertising: companies advertise their vacancies and are required to manage the shortlisting, interviewing, and background checking of applicants. Online job board Monster charge £950 for one month CV database access and £270 for one job posting lasting a month.
RecruitmentRevolution.com is starting a revolution by:
· Allowing companies to advertise their jobs and search for candidates at no cost
· Allowing employers to test and interview candidates before charging between £300 and a maximum of £1000 (average £400) for placing a permanent candidate, regardless of the starting salary
· Adding a low flat hourly rate (little more than £2) for the supply of temporary workers
· Enabling companies to book temporary candidates through a fully automated online
system (the system also allows candidates to pitch different hourly rates depending on the job)
· Applying an eBay-style feedback system (Online Reference Score™) to the temporary job
The company’s lower fees are sustainable because RecruitmentRevolution.com does away with the high street recruitment costs and instead provides an online platform for companies and candidates to communicate directly. RecruitmentRevolution.com allows candidates to market themselves openly via their Online Reference Scores and Skills and History Portfolios so that the client can make an informed instant decision, without the need for a recruitment consultant.
RecruitmentRevolution.com – the process
Candidates, (students and graduates of all ages), register for free to display their Skills and History Portfolio™ (a comprehensive CV), and access available jobs. Clients advertise their vacancies, inviting candidates to apply. These applications go straight to the client’s ‘Inbox’, again eliminating the need for a ‘consultant’; the client is then able to assess each candidate, viewing their portfolio, Online Reference Score™ and, if necessary, conducting further online questioning, personality and skill testing. RecruitmentRevolution.com will arrange interviews at the client’s request. Alternatively, clients may ‘headhunt’ candidates directly so that only the ‘chosen’ are invited to apply for the position. The client only pays when a position has been satisfactorily filled. RecruitmentRevolution.com operates a strict registration process whereby candidates are identity checked, referenced, and skills tested. RecruitmentRevolution.com operates a full PAYE agency facility.
Further benefits for candidates:
· Turn Your Friends Into Cash™ – Earn money by referring friends to the site and earning 50p for every hour they work
· The Transfer Fee™ – Paid to candidate on taking up a permanent position
· Receive performance awards relating to the Online Reference Score™ – £2000 cash prize for the Dream Candidate™ of the year
· Receive a free HMV Digital Download upon registration
· Gain access to special concessions from popular brands
· Improve skills set with 217 free online tests and 60 courses
· Receive exclusive invitations to events hosted by RecruitmentRevolution.com’s entertainment brand TightlyKnit