Friday, August 17, 2012

Another company to watch - incxo

I was going to wait and save this post for a rainy day, but after talking to these guys I have to share right away. What they are doing is pretty cool. Think crowd-sourced recruiting...

First go check them out..

At first I was a little confused on what they did. Are they a platform for recruiters and jobseekers to work together? Well they are more like a traditional search firm with really cool technology. If you have openings, you can't just post them on their site, like say linkedin jobs. But if you are a recruiter with a stellar candidate you could recommend them.

I got to meet two of their founders, Matt Corbett is their CEO and Anne Haley who is a principal there. They had some cool facts, which I won't be able to remember all of them but the most interesting one was referred candidates are three times more likely to do well than other candidates. They consider "doing well" to mean at least 2 years at the company with at least one promotion. Yeah I'd say that is doing well....

They essentially pay you to recommend someone. If they get hired, you get paid. There are some details, like how long your recommendation lasts, what if more than one recommends etc, but that's the heart of it. If you feel funny profiting from helping someone get a job, you can donate the money to charity.

In fact that's what most good recruiters do. They find good candidates and bring them to the client who then pays them for picking through the hundreds of resumes that aren't good and doing a lot of the work. Good recruiters will also ask, "Do you know anyone that could be a good fit?" Usually then they call that person and if they are a good fit, keep the money. Some recruiters will give you a finders fee, but usually you get good will from the person you recommended and a thank you. Sometimes you don't even get the "Thank you".

So it's a cool model. I think it makes a lot of sense. I don't get paid to tell you that, but you can bet I'll recommend you if you are a good fit for one of their openings.

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