Hunting for a job/candidate is a full day job and this is something which is agreed on with this statement. Every candidate/employer just has to fill in their details and the website will provide a cluttered list of all the candidates/jobs which are available for the appropriate keyword for some recruitment websites.
A lot of time and effort is required by the candidate who is searching for a job. While some people are already working in an organization, many people search for a job change. Every company does not have the resources to handle the recruitment portals on the other hand.
It also has affected the recruitment sector since technology has rapidly revolutionized in its major sectors.
There are two types of candidates while now recruitment websites are altering their approach to connect.
- Passive candidates: Candidates who are looking for future job opportunities as they are not searching for an immediate job change.
- Active candidates: If given a good opportunity, the candidate is actively looking for a job change and would also change in their job.
It is crucial to cater to both the active and the passive candidates as well as employers for an entrepreneur who is looking to build a recruitment portal. The complete is the detailed website analysis of the business model, revenue model, and its crucial features.
In the current market dynamics, social recruitment websites have become popular. Only a few companies have a dedicated resource to search for a candidate as only a few candidates can dedicate their whole day for a job search.
The job seekers and the job givers are the two different entities who are involved in social recruitment website. The following are the process in includes for both:
- Mentioning the current title
- Adding the details like name, email, and password.
- Selecting the top 5 skills which you possess
- If you wish to relocate, adding the phone number and the work details like full time or freelancing.
- City in which you are currently living in and where you prefer to work is something which you need to select.
- Your career options are personalized by the system.
- By uploading a doc you can easily add a resume. You can also link in your LinkedIn profile.
The Job Givers
- Registering on the website
- Mentioning the company that you are hiring for
- Entering your email id and password
- Mentioning the job title you are looking for
- Importing the file for job description
- Mentioning the experience which is required.
- Mentioning the top 3 skills required to help in this position.
- Listing the companies that have the type of talent which you are looking for.
- The application is then submitted to the admin who then approves the request.
Commission as the primary revenue source
Like that of an offline recruitment agency, the primary revenue model for a social recruitment website is the same. They cut a certain percentage in accordance with the salary of the employee when a candidate is placed in a company. The commission is paid by the employer itself as the commission is not deducted from the employee salary.
Secondary revenue source
- Subscription: The social recruitment website can earn revenue as a subscription-based revenue model is an additional type of revenue model. To a job giver as well as a job seeker a subscription can be offered. Users become premium members of the website by which they get special privileges such as a premium list of companies, premium list of candidates, free job postings, etc, under the subscription model.
- Advertisement: it can yield a lot of revenue for social requirement websites as an advertisement is an extra source of revenue. Not everybody on such websites is not actively searching for a job and this is the fact that remains. It might be in the pipeline as many come to just look at new opportunities. It can be highly lucrative for companies in targeting such users.
One of the critical features to have is ease of entering the details for any online business which relied on crowdsourced data. It will also negate the whole idea which is behind such a website by having a cumbersome process.
Most candidates do not prefer to do it in entering the job and educational details which is highly tiresome. To let them upload their resume via doc.file or link their social recruiting profile to their LinkedIn profile every social recruitment website should have the necessary features. It can directly be synced with the information which is required.
For the candidates
- Filtering the options: They can find companies according to the preference and past work of the candidate through the social recruitment websites which are artificial intelligence based. In accordance with their preferences, the candidates can furthermore filter the searches. The size of the company, number of employees, etc are all included in the filters.
- Type of candidates: When it comes to the types of candidates there are of two types. One who are job seekers and one who looks for opportunities. They should be able to gather ample information like if the candidate is looking for a job right way or just exploring for the future as the social recruitment website helps in searching for the apt companies for the apt candidates.
- Selecting goals: They need to better understand the goal and preferences of the candidates for the AI system. To check their goals for visiting the website as in what they are looking for, the website needs to be checked.
- Connection: You can add your connection from LinkedIn to it through the social recruitment website who keeps you anonymous. When you actually reveal your identity, your connection will not get to know that you have added them and they can vouch for you.
- Inviting and earning: This is where the term referral program comes into play. The friend candidate searches for a job and gets placed with a company and the original candidate will earn the respective credits if a candidate invites his friends to the website.
- Active/nonactive profile: This reduces the work for both the company and the admin. On social recruitment websites, employees should be able to activate or deactivate their profile. The employee can easily deactivate their profile so that they do not get any notification regarding the matched company when an employee gets a job through the portal.
- Adding multiple job openings: It allows one company to add multiple job postings as the company would have multiple requirements and a social media recruitment website should have the feature. There are specific companies who can add job which will be submitted under the company’s job posting and they can create their own profiles.
- Separating the candidates whom you have shortlisted: Different segregation would be done as the candidates who have been shortlisted for a particular job opening. It is better to have a separate section maintained for them as the employers do not have the time to filter the employee whom they have shortlisted.
- Chatting with the potential candidates: The employer decides a candidate as the resume is not the only factor here. The communication skills, confidence and the rest can only be done through personal chat as they would check them all. This what they would also judge him/her on the basis of the chat as this way the employer can understand what the preference would be.
- Managing the jobs: There can be an “n” number of job openings which the company can upload on the social recruitment website in an average size company. Tackling the jobs on the website, the thing is what they do not get stuck to it. To easily manage their job postings, the websites should have the required option.
- Adding job descriptions: It can be the same as no two jobs postings of the same profile. A senior-level employee may be one and the other would be a fresher.
- Passive candidates’ wastes the valuable time of companies: The ones who are just looking for job opportunities and do not want to shift from their current job immediately are what the passive candidates are. The companies would be wasting time to interview and converse with them as these candidates are not distinguished on the websites. By segregating passive candidate from the active candidate on the website, is one of the ways to avoid this disadvantage. They can easily access the passive candidates as the companies are not looking to enroll a candidate immediately.
- Fake account: The person is anonymous which leads to a high rate of fake accounts is what the main concept for this. The website should ask the candidates to register with their mobile number which can be checked by sending an OTP or log in with a social media account to avoid these.
For the employers to search for the perfect candidate leads them to the online portals as the number of people looking for a job is a difficult task. For many organizations, recruitment websites have been the main source of recruiting the candidates and also reduces the efforts of the recruiters and candidates. To match the perfect candidate with the perfect company, artificial intelligence is being used.