Transcript
A (0:00)
In this Lessons episode, explore why traditional hiring models no longer match today's dynamic workforce and how on demand talent solutions offer a smarter alternative. Discover how subscription recruiting streamlines costs and scalability. Understand how video screening and curated talent pools speed up decisions, and uncover how gig economy principles and modern tools create a more efficient hiring process. Now, what I find very interesting is how, like recruiting.com is, is filling the gap that has manifested because of COVID But it's interesting because you didn't come from a recruiting background. So I want to talk about the model that you implemented@recruiting.com because your brain and how you think through innovation and disruption, I think is probably positioned recruiter.com excuse me, to, to fill some of these gaps that we're seeing now.
B (0:54)
Yeah.
A (0:54)
And I want you to, I want you to walk through it in comparing the traditional agency, like, I don't want to name names because you're, you're a direct competitor with some of these probably. But, you know, the large, the large recruiting agencies and why. And why they aren't.
B (1:09)
Yeah, yeah, totally agree. So a, you know, fundamentally, hiring hasn't changed. I don't know. Ever. Right. You know, you, you post a job, you collect resumes, you screen the candidates, you interview them, you hire them. Right? That is the process for hiring, whether you put an ad in the New York times, you know, 30 years ago, or you post a job on LinkedIn. Right? That's how you got the job, whether you mailed in your resume or emailed it or downloaded it or got it via fax. Right. Then you screen the candidates, you interview them, and you hire them. That process hasn't changed, and I think it's due for a change, and we'll deal with that two years from now. And fundamentally, there are two ways to do that. You either do it yourself. So Scott, the business owner will post the job, collect the resumes, screen the candidates, interview the candidates. Or historically, you hired a headhunter or a recruiter, and the recruiter got paid 20 to 30% of the salary for getting that done. Now, that made a lot of sense when hiring Scott was akin to the rest of your career is going to be working for me. So I'll pay someone to 30% of your first year salary because you're going to be here forever. Okay, so 30 years, that's easy. 10 years, I could still amortize it. But what if you're only going to be at this company for a year? How in the world am I paying you 30% of a salary for someone who May or may not last a year, to know a year to 24 months. So I think that model needs to change. And what we started to do was to really capitalize on the gig economy from a recruiting perspective and say, you know what, Scott, you actually need, if you're trying to hire people in your company, why don't you bring on a recruiter who works for you 10 hours a week, 10 hours a day, whatever you want in your specialty and let them do the hiring for you, but pay them on an hourly basis. And that's what we're delivering on an on demand basis. You know, you could hire a driver and pay the guy, pay your driver an annual salary and a bonus or you can go to Uber and say, hey, take me from point A to point B, right? So you know, you could do the same thing. And by the way, think of all the other models that are doing that today. You have upwork doing that and Fiverr's doing it and freelancer.com is doing it. And by, but by the way, we do that in our professional world, right? You have a, let's assume you have a bookkeeper or an accountant. Does that account work for you full time or do you use an accountant that you pay on a project by project basis? Get even more granular. You're doing a real estate transaction, right? You're not going to hire a full time attorney to do that one real estate transaction. You're going to find the right attorney for that location, who knows it, who's licensed, et cetera. You're going to engage them for that assignment. When the assignment's over, it's done. That is where we see the world going in, talent acquisition. And we're doing that. We're capitalizing on this giant network, recruiters, getting them on assignments on a regular basis through subscription models, etc. And then adding the software to really make, you know, give them, you know, the proverbial superpowers, right? Give them the tools, you know, multi, multi, million dollar tools. Now not just that, we're now able to do that from, you know, Fortune 50 companies down to small businesses. So we actually launched a program called My Recruiter. You can go to start.recruiter.com myrecruiter and it is a full on subscription starts at like I think $1,000 a month. There's no placement fees, nothing. You get a talent, you know, a talent advisor working for you to handle your specific job. And it's a monthly service, so it's a, it's a new service that we're offering. And no one else does that on the planet.
