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India’s burgeoning start-up culture is spawning a demand for not just local talent but global expertise as well. While large recruitment firms have the resources and capital to access talent very quickly, small and mid-size recruiters often don’t.
To provide a level-playing field to such recruitment firms, serial entrepreneur Gautam Sinha and Sanjeev Punwan have started Cross Border Recruiter Exchange (CBREX). As the name suggests, the exchange facilitates cross-border hiring in 48 hours by aggregating a large network of curated, independent, small/mid-size recruiters from around the world. So, a recruiter in New York can connect with a recruiter in Russia or India or Australia and vice versa.
Within six months of launching CBREX, the exchange has a network spanning 40 countries and plans to get six lakh recruiters around the globe over the next 6-12 months.
“I know the pains of a small recruiter, because I started an IT recruitment firm, TVA Infotech, in 2000, which I sold to Allegis Group Inc, the largest staffing company in the US, in March 2008,” Sinha, CEO and Co-Founder, Expat Naukri Pvt Ltd, told BusinessLine .
“Worldwide, small firms make up the bulk of the recruitment business. However, these small recruiters do not have access to other recruiters who have a ready candidate pool in a foreign country to source from. CBREX becomes an enabler for them.”
This is how the business model works: the recruiter who generates demand for a candidate gets to keep 30 per cent of the fee, 50 per cent goes to the recruiter who supplies the candidate and CBREX gets 20 per cent. Recruiters have the option of generating demand for talent or supplying talent.
Targeting 6 lakh recruiters“We are looking to bring on board six lakh recruiters. Even if each one does only one transaction a year, we will have six lakh transactions, and each transaction can give us close to $5,000-8,000, depending on the candidate’s CTC and fee charged for sourcing the candidate,” said Sinha, who is also an angel investor.
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