Have you checked out BountyJobs yet? BountyJobs is a website where “employers can find talent cost effectively, faster, and more efficiently while recruiters can make more placements, earn more money, and become more respected.” BountyJobs is set-up to act as the middleman between employers and recruiters on candidate placements, acting as the third party.
There is value from both sides (employer and recruiter side) to using the site. Employers can post their hard-to-fill positions there and not have to go through the burden of working with 3rd party consulting firms or vendors, while getting the benefit of having several recruiters working on a requirement at a time. Recruiters can simply decide where they would like to be active and submit their candidates, with no obligations. There are alot of independent recruiters on the site, but I can see where recruiters already working for another firm would want to use the site. Say for instance they have several sharp Java Developers in their active pipeline in Washington, DC, but their current employer does not have any open positions for Java skill sets, or anything for Java in the DC area. The perfect scenario would be to see if there are any relevant openings for these Java folks out on BountyJobs, and “get engaged” on that particular requirement as BountyJobs puts it. There are very recognizeable companies already using the site including Freddie Mac, Toys R Us, State Farm Insurance, M&T Bank and Deloitte to name a few I saw today. Recruiters are set-up on 1099 terms if they place a candidate with an employer. There are nice submission features for candidates and communicating with the employers, as well as searching for open positions based on job categories, key words, industries and regions. All positions are full time and recruiters receive a set percentage of each placement. Let me know your thoughts and if you have had any successes there. Below is a screen shot:
October 19th, 2007 at 4:20 pm
Has anyone had success here?? I’ve talked to several people who said it’s a great concept but….had plenty of engagements with nothing happen.
October 22nd, 2007 at 1:17 am
Brandon,
We have over 2500 recruiters registered and honestly, the majority have not made placements so I am not surprised that those you have heard from have not. Our site is reletively new but about 100 recruiters have been successful and we are adding between 3 and 5 new successful recruiters per week (existing successful recruiters get more into it and make many more placements…)
Please contact us if you would like references. Our number 1 performer has 9 placements for about $130,000 and our highest fee placed to date was $50,000 for a VP of information security. Many recruiters have between 3 and 6 placements. It takes a couple of months to get the feel of it and learn how best to do business in the BountyJobs environment, but once people figure it out, they do very well! The most important skill in success is the ability to identify the most responsive employers.
Much like the offline world, it is not easy to fill these jobs, but I assure you that with some hard work and perseverence, a good recruiter will do quite well on our site!
Jeremy Lappin
CEO BountyJobs
February 27th, 2008 at 1:29 pm
Something to think about before joining BountyJobs:
1. BountyJobs charges employers $250 per job posting.
2. BountyJobs charges the successful recruiter 25% (potentially $7,500 to $12,500 or more to BountyJobs!)
3. BountyJobs retains the full fee for 90 days, earning the interest
Most search firms are small businesses; a 25% drop in income is substantial. Additionally, BountyJobs claims the recruiter’s cost is justified by saving time hunting for search assignments and collecting fees. In actuality, a successful search firm like ours spends very little time looking for search assignments and collecting fees.
August 13th, 2008 at 3:09 pm
Our firm will not use bountyjobs. It is yet another layer we have to go through to reach our clients. Furthermore, only one of our clients use it and we stopped working with that client. They ask for a reduced placement fee for doing nothing. We have these corporations as existing clients anyway so, there is no need for their service.