Looking out for a job and yet worried that the industry will know that you are on the prowl? Many shy away from actively putting out feelers due to this fear. After one has crossed this hurdle and got some offers, one of the deciding factors is the salary. Perhaps these factors were one of the driving force for the founders of BeatMySalary.com (BMS) - a job portal, that was launched in mid June 2015. They claim the portal is a one-stop place where agencies, recruiters and employers can reach out to prospective employees and potential candidates to make a job offer without revealing their identity.
Before you rush in and register, here is a rider. The portal is aimed largely at senior professionals who wish to explore opportunities, albeit anonymously.
Founded by Karthik Prasad, a Bangalorean now settled in the UK and Swash Ram, a London-based Chartered Accountant who pooled in their savings of $60,000, BeatMySalary.com was launched in mid June 2015. "We stand between traditional job portals and LinkedIn type of portal with curated candidates, high response rates, upfront about expectations and ensure anonymity to our users," says Prasad, Co-Founder.
Prasad says that one of the reasons for launching the start-up is that he feels the recruitment market is an ‘employee’s market’ with more demand and less supply of ‘senior talented pool of passive candidates’.
BMS target audience are candidates with four plus years of experience in mid and senior levels, drawing salaries starting from Rs 10 lakh to Rs One crore.
Surveys on hiring trends in India for 2015-16 indicate that online job portals are still considered the most effective for hiring except for senior level hires. According to one survey, less than 15 percent of organizations source more than 50 percent talent through social media. And the turnaround time, not necessarily through social media is quick. An Ernst & Young survey says that three-fourths of all junior and middle-level vacancies are filled within two months.
How it works
Candidates register their key details on BMS which captures key skills, expectations and constraints, current and expected salaries. No CV or resume is required. This information is stored on the site in the form of a summary card. The candidate's identity remains anonymous.
There is no advertising on the site for any jobs. Recruiters register and opt for a subscription plan to access and reach out to candidates. The site provides the first five responses from candidates for free with 50 free minutes of calling time using its internal in-house telephony system.
Recruiters search for candidates using the portal’s search engine. The portal provides recruiters with a summarised view of the essential details enabling them to make a quick decision whether or not to reach out to a particular candidate. The reecruiter then adds relevant "candidates card" to a shopping cart (basket) and checks out by attaching the job description and reaching out to all the selected candidates in one shot.
The shortlisted candidate receives an email and has the option to accept or reject the reach-out from the recruiter. Once the candidate accepts, only his first name is revealed to the recruiter on his (recruiter’s) dashboard. The recruiter can now click a button on the portal and initiate a call with the candidate through BMS's telephony system.
Since its launch, over 110 recruiters have signed up, and there have been over 1,500 candidates on the portal, says Prasad, adding that he cannot say how many candidates have got employment through the site. "We cannot track conversions once a handshake is made between a recruiter and a candidate since the process is then taken offline," he says.
The company currently has a pan-India presence but is looking to market the product in the UK, US and Europe.
"We are seeking early stage funding to scale into UK, Europe and USA markets. We would be looking to be funded $2m in the next two months," says Prasad. When the funding takes place, the company expects to have revenues of Rs 48 crore in the first year.
Published Date: Sep 01, 2015 14:08 PM | Updated Date: Sep 02, 2015 00:25 AM