TalentPuzzle, an online recruitment marketplace which allows employers to advertise jobs for free to a network of agencies, has announced that nearly 300 recruitment agencies have already signed up to the service since it launched just under six months ago.
The site allows employers to set the percentage placement fees they are willing to pay for a successful candidate introduction, thereby standardising and lowering costs. Recruiters can then see the vacancy and the rate being paid and compete to fill the post. Employers can anonymously post jobs and select recruiters based on performance ratings, encouraging recruiters to send better quality CVs. In addition, every selected recruitment agency can see how many others are working on the particular role, so are therefore incentivised to put their best candidates forward to secure the placement fee.
“Whether you are a business owner or HR executive the challenges are the same, to reduce costs and hire as quickly and as effectively as possible,” commented Virginia Raemy, CEO of TalentPuzzle. “The marketplace is intended to help with these challenges, as well as improve relationships between employers and recruiters which have historically been strained, despite both parties recognising the value of working well together.”
As well as improving the quality of CVs received, time-pressured business owners and HR staff will generate an increased pool of potential candidates using the site. All invoicing is through TalentPuzzle providing one point of payment. In addition, rebate terms are a standard eight week money back guarantee, providing value better than the industry average.
Specialist Technologies Aerospace Group is an early customer of the marketplace. The company buys and sells aircraft parts to customers which include the Ministry of Defence. As a private organisation reducing costs is crucial, but also is the quality of any candidate that they hire. They had a sales support admin role to fill which they did using the site in less than four weeks.
“Working in HR life can be very complicated and confusing, using TalentPuzzle everything is just simplified from costs, to processes and relationships with recruiters. In the past we have paid anything up to a massive 22% for a hire. Using TalentPuzzle we were able to fill the position for a fee of just 5%,” commented Jill Langley, HR Executive Specialist Technologies Ltd. “The three recruitment agencies that engaged with us on the position were all extremely helpful and the agency that filled the position even came to the first interview.”
Jill Langley continued, “The person we have hired has turned out to be a great sales person. We intend to continue using the service and currently have a role posted on the marketplace. The key benefit for us has been the increased number of recruiters that we now work with in a simple and effective way. This has had a knock on effect on the number and relevancy of CVs that we receive. The site keeps a record of the number of CVs, agencies, and even names of recruiters - you would be surprised how many Helens there are! This means we can keep track of which agency has sent what and respond accordingly. Using TalentPuzzle has helped us improve our relationships with recruiters.”