The job market is certainly rough right now and it is important for employers to ensure that they are hiring well-rounded and qualified candidates.
Today’s featured startup, JobEscrow, is recruiting insurance for employers. With JobEscrow, employers list their jobs and recruiters take the task of finding the perfect person to match the position listed, making employers confident in hiring and retaining. Learn more about this Startup California startup from its founder, Ken Winters.
Tell us about your product or service
What’s JobEscrow? In short it is an online marketplace where employers and recruiters conduct business leveraging a pay for performance model based on new hire quality and retention. Companies can buy a job credit for $410 – similar to the price of job postings elsewhere. They choose a recruiter through the JobEscrow network and both parties agree to a fee structure and a payment plan over time. JobEscrow doesn’t take a cut of the recruiting fees like other services and the fees are paid out over time through an escrow account based on new hire quality and retention
Starting in December, we will launch our Outplacement service which provides Employers (who are laying off) a system to put a reward in escrow, on the resume of the employee they are laying off, and if/when a Recruiter helps the Job Seeker obtain their next job, the reward will be paid out to the Recruiter.
What inspired you to start your company?
The catalyst occurred in the Spring of 2009 when a CEO friend called me to clean up a mess a contingent recruiter had made. Huge contingent fee, 90 day guarantee, and then that recruiter backdoor poached the candidate away from the CEO’s small company on the 91st day. The CEO said “I will never use another contingent recruiter every again!”
We’re excited to announce we’re holding our New York City, US Job Fair on November 29.
Find out more information by visting the NYC Jobfair page.