From 60 days to nine days to hire: Talent Party eases recruitment pain
Officially launching in the UK today following its beta trial this year, Talent Party offers hundreds of recruiters it already works with a new source of revenue and helps employers hire the very best talent in an average of just nine days, rather than the typical average of 60 days.* With the average cost of replacing a staff member now more than £30,000, employers and recruiters are set to save thousands with this new service.**
Leveraging data science and learning from analysis of more than 10 million careers, Talent Party can now deliver the most rapid, cost-effective and pain-free recruitment process. The scale of the recruitment challenge for businesses was highlighted by Talent Party’s recent research which revealed that 41% of hiring managers have compromised on the quality of recruits because they couldn’t find suitable candidates. Reducing the time to hire was one of the top priorities for the coming year, according to 42% of the respondents.
“Finding the perfect candidate for a business should be exciting for recruiters”, enthuses Talent Party’s CEO, Ben Hutt. “Often you understand what businesses want, you know what skills they’re looking for but when you go looking for them you hit a brick wall. The reality is that all too often your search for the best candidates is like looking for a needle in a haystack and ends with your client signing on the dotted line for the best of a bad bunch.
“Our new redesigned marketplace makes finding the perfect candidate a really simple and hassle-free process, with quick and easy access to high quality, committed vacancies and candidates, in what has traditionally been a huge headache for recruiters.”
Talent Party is an online marketplace that hosts over 10 million candidate profiles of great candidates who have relationships with recruitment agencies. The technology behind Talent Party leverages tremendously detailed candidate data, cleans the data, merges it into distinct individuals and then anonymises it to protect privacy. Its cutting edge algorithmic processes analyse every detail across millions of CVs and in seconds present a shortlist of individuals that meet all the criteria, no matter how precise. It sorts by quality, strips out dubious work histories and enables the rapid negotiation of terms between employers and recruiters, and the sharing of CVs and interview arrangements, resulting in an incredibly short time-to-hire of high quality staff.
Paul Marioni, Director, RDA Recruitment, adds: “One of the biggest challenges faced by clients and recruiters alike is the exact matching of candidates to each unique requirement. Clients waste their time in discussing their needs with recruiters that cannot service those needs but invariably “have a go” and recruiters spend valuable time speaking with clients that they cannot properly service but require to show a long client list.
“With the help of Talent Party’s effective data science we can now easily search from a wider and more appropriate selection of candidates extremely quickly and accurately to the benefit of all parties. We’re excited about the time and money this will save us and, more importantly, the higher quality placements we’ll be able to make with relevant and trusted clients.”
Talent Party’s digital marketplace means businesses of all types and sizes can benefit from improved productivity levels. Hundreds of recruiters and employers have already signed up to use the service, opening up more opportunities for candidates to apply for a wider range of companies than before. By improving the quality of candidates that get to interview stage, Talent Party is set to have a positive impact on the recruitment process.
In recent months Talent Party has also welcomed on board Josh Rogers as a substantial investor, director and interim product and marketing executive. Rogers was also an early investor in Freelancer.com and Posse.com and is currently also Chairman of Ondi.com, a recently launched online marketplace for retail services. He brings with him extensive experience building businesses internationally and a specific understanding of online marketplaces. Carthona Capital, a Sydney-based technology fund, has also recently become a shareholder in The Search Party (Talent Party’s Australian company), and is working with the management team to plan and execute international expansion in 2015.