The changing face of recruitment

www.know-who.com survey highlights need for change in current recruitment industry

UK businesses spend millions of pounds a year on recruitment and resourcing, yet a new recruitment source could save up to 75 percent of this cost, it has been revealed.

In a move which looks to turn the recruitment industry on its head, new online recruitment platform know-who.com will utilise and monetise the power of referral and social networking to create an online community which helps employers and employees alike.

Spiralling recruitment fees are a growing cost burden to UK businesses - with typical recruitment agent charges sitting between 15 and 25 percent of one yearís salary. As the talent market becomes more and more competitive, employers are looking for ways to attract candidates without significant recruitment spend. The launch of know-who.com this Friday (29 February) will usher a new generation of recruitment into the UK and offer a more cost-effective and personal solution to employment.

The site launches at a time when the global recruitment market is undergoing huge change - particularly with the emergence of new interactive methods and new web technology - and many people are considering new avenues for job hunting and recruiting.

A recent survey commissioned by know-who.com has identified almost two thirds of Britons (60 percent) prefer direct application and contact via word of mouth and referral to dealing directly with recruitment consultants.

The survey, which saw only a fifth of Britons identify recruitment consultants as their preferred job-hunting source, highlights the need for new channels and platforms for recruitment and job hunting.

know-who.com will knock out the need for employers and job hunters to deal with multiple recruitment agents ñ and the heightened fees attached to this - by creating a central, holistic hub of contacts and job/employee opportunities. It will utilise the yet un-tapped power of personal contacts and referral to offer a whole new style of recruitment and even offer employers with a system to get their employees actively involved in the recruitment of their staff, through a pre-established and incentivised recruitment hub.

Jody Hunt, co-founder of know-who.com sees the site as a great step forward for the recruitment industry; ìThe recent know-who.com research further cements the fact that the recruitment industry is changing and moving much further towards personal referral and direct contact. Know-who.com offers employers and candidates with a great amalgamation between the strength and support recruitment consultants can offer and the credibility and stature which sits alongside personal referral.î

ìThe site is easily accessible to anyone and totally free to post jobs as fees ñ which are subsequently re-distributed to the community of successful referrers- are only charged on successful hires. The value will come from the sector-specific communities of people that naturally form within know-who.com. A lot of recruitment is traditionally done by word-of-mouth and industry referrals, know-who.com facilitates this model, but on a much larger scale.î

Know-who.com launches this Friday 29 February.

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1. MBD estimates the UK recruitment industry to be worth approximately 27.6 million pounds click here

2. LM Research, February 2008, Sample: 1000 x respondents, one to one interview Execution date: February 2008