There are still plenty of opportunities to create a lucrative business in the “job” and “talent” market. Not only was LinkedIn’s entry into the public market a hit last year (its IPO brought the company $352.8 million), but this BusinessWeek article (a GigaOm re-post) from last May touts numerous potential acquisition targets that might complement their business. Among those targets include Hashable, Socialware, Yammer, Indeed and BranchOut.
Sprouting from Ireland, Zartis is a new player in this space, who see the growing difficulty in hiring, particularly technical talent. Jobs boards aren’t returning great or even relevant candidates and recruitment agencies are expensive and can be time consuming.
Unemployment and economic recession issues aside, the growth of new technologies, mergers and acquisitions and start-ups with great ideas around the globe, offer tremendous new employment opportunities, but finding the right person for a position is often like finding a needle in a haystack, a very high and dense haystack.
Zartis, which is part of Enterprise Ireland, who had a major presence at SXSW last month, is an online service designed to help companies with between 5 and 500 employees to “look within” to find the talent they need through employee referrals.
They have taken a clever angle to recruit people, giving perks and incentives to those within an organization who can tap into their own networks to bring fresh new talent to the pool. The service allows a company to add a job, allocate a reward and invite its employees to promote the role to their contacts.
What’s very cool about their offering is that an employee can actually tap into their personal social networks by publishing the “vacant” role to their Twitter, LinkedIn or Facebook timeline. And, then of course, they in turn get rewarded for successful outcomes.
How Employees Win:
When an employee logs into Zartis, they see the positions available and the rewards that are connected to the position. They can select a job and with one click have the message broadcast to their LinkedIn, Twitter or Facebook connections.
They can also make recommendations within LinkedIn for a role based on keyword matching. The employee can then send their contact a private message telling them about the job.
When a job is distributed by an employee there is always a unique code embedded in the message which allows the company to track a job applicant back to the employee. This ensures that the referral reward is always paid to the employee.
Referral hires ensure that people work with people they like. Letting employees source new hires ensures they only recommend people that they actually like to work with which equates to longer term satisfaction for the employee and the “mate” they’ve brought into the company.
How Companies Win:
According to historical stats, as anyone in this market knows, companies already generate roughly 20% of new hires from existing employees which isn’t bad considering how much effort goes into finding new talent who isn’t just a fit from a skillset perspective, but from a cultural perspective as well. Referrals from employees only increases the number of like-minded candidates, which is a win-win from a corporate perspective as well.
Using Zartis, companies could actually get that employee referral number up to above 50%, which any good headhunter or HR exec will tell you, is significant. Bottom line, great people know other great people. Reliable. Honest. Ethical. Sustainable. And, existing employees are more likely to recruit others with like-minded in thinking, which means that they’re more likely to fit the corporate culture. Just look at how great Zappos is at recruiting and keeping people who fit within their corporate culture.
Zartis is designed to work within organizations but it also taps into the power of social media and sites that already do their magic, including LinkedIn. With the growth of employees using social media inside and outside the organization, it makes it that much easier to get a message out quickly to a wide audience.
If employees are already doing it in some capacity, throwing an incentive their way to go the extra mile to send out messages to help fill positions only makes logical sense.
A company with 300 employees has theoretically 45,000 first degree connections. There will be overlap in these connections but even if you halved that number, imagine the leverage and power of all of these combined networks from all of your employees.
Another great feature from Zartis is their ability to help companies create their own careers site with a list of all their job openings and a professional application process that even works from a mobile phone. Says CEO John Dennehy, “with no knowledge of HTML, you can have an instant web page with all of your job listings. We also have it set up for mobile optimization.”
Job seekers can submit their resume or LinkedIn profile which is sent to the company that is hiring. The careers site can be embedded in any website, WordPress site, or Facebook page.
Jobs can also be pushed to free job boards like Indeed.com and Twitter with one click. It’s very simple to get up and running (no programming required) and they’re obviously thinking about opportunities worldwide, as it can already be automatically translated into any of 11 languages.
When somebody applies for a job the hiring manager logs in to their secure site and can review all of the candidates in one place. They can add notes, send template rejection or call to interview emails, and share interview notes with colleagues.
Getting Started & Pricing:
If you want to “taste” the power of what Zartis can do, you can test it out for free. (one job posting is free and you can also get a month for free with all of their existing plans). For companies wanting more horsepower, their service is still incredibly reasonable.
To publish up to three job postings, it’s only $9.95 a month and for 10 a month, it’s $29.95 a month. For high growth enterprise companies with ongoing recruitment needs, it’s a one time fee of $499.95 a year. When you consider what you pay a professional headhunter and other online services (often upwards of 15% of an annual salary), it’s a very cost effective way to recruit new talent. Employee referrals are charged separately based on the number of employees added to the system.
Investors include AIB Seed Capital, Enterprise Ireland and SOS Ventures. Clients are global; companies using their service are based as far away as Cape Town and Kuala Lumpur, in Europe (Dublin and London) and in the U.S. with more and more customers being added every month. You can find out more about their service on their site and follow them on Twitter @zartis.