The Hindu Business Line : e-Bay model portal for small-time recruiters

Bangalore, March 1 For people like Pradeep Mukherjee, a laid-off recruitment consultant working with a leading placement firm, Zyoin.com has come at an opportune time.

With an ‘e-Bay’ kind of recruitment model, the Web site offers small-time recruiters access to job requirements of a large number of companies where they can refer their candidates and get paid for every successful closure.

This system does away with recruitment agencies and their commissions, and brings employers directly in touch with candidates through referrals. Referrers are rewarded with cash for facilitating successful recruitment.

Zyoin’s recruitment model has enthused the recruiter and professional community (like Pradeep Mukherjee) who can continue to do what they have been doing professionally but with a greater access to client job postings.

“This model greatly helps small-time recruiters as they can now have access to more clients and job postings. This also makes it a perfect work-from-home career opportunity,” says Mr Krishna Kumar, Managing Director and CEO of Zyoin.com.

Referrals work

For Zyoin’s clients who have been posting their resumes on the Web site, referrals from professional/ recruiters ensure better quality fitment and the automated resume tracking and filtering system that reduces the overall HR effort gives a faster turnaround time.

The business model also reduces recruitment costs by 30 to 40 per cent, as companies can decide on the recruitment fee depending on the urgency of the assignment and the position to be filled.

Says Mr Sanjay Shelvankar, Vice-President, Talent Acquisition of MindTree Consulting, which has implemented some of the concepts that Zyoin is piloting, “It’s an innovative approach to online recruitment and it seems to be well suited for Indian environment where there are a lot of small recruitment firms.”

Zyoin.com is currently piloting the concept with several IT clients and plans to foray into hospitality, healthcare and pharma sectors.

The $3 billion (Rs 12,000 crore) Indian recruitment industry has shrunk by almost 20 per cent in the last six months.

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