Product 2.0: BountyJobs -- Talent Search 2.0

Product 2.0: BountyJobs -- Talent Search 2.0

Online hiring marketplace attempts to transform company/recruiter relationship

Online hiring marketplace bountyjobs.com recently released its first quarterly report. According to the company, www.bountyjobs.com is now being used by 3,000 qualified headhunters. This milestone was reached in the 14 months since BountyJobs launched its site in November of 2006. The company says that BountyJobs gives employers with open jobs instant access to an extended pool of potential candidates through an online network of thousands of professional, qualified headhunters.

In addition, more than 500 organizations, from small and medium-sized enterprises to large companies -- including over 100 of the Fortune 1000 - are using the BountyJobs marketplace to simplify the recruitment and hiring process. Employers choose bounties, or fees, to pay headhunters for delivering successful placements.

How It Works

Employers:

  • Post the position to be filled and choose the success bounty, as a percentage of salary, to be paid after placement.
  • Review introductory notes and profiles from qualified agencies to determine with which recruiters to work.
  • Review resumes from recruiters; the most successful employers provide solid feedback to agencies that are on the right track and disengage those that are not.
  • Click "Award Bounty" when a placement is made. All payments are made to only one vendor, BountyJobs, which offers either a 60- or 90-day employment guarantee.

Recruiting agencies:

  • Search bounties to find interesting jobs;
  • Request to engage on a particular job;
  • Communicate with employer to learn about the position, find and send appropriate candidates;
  • Receive 75 percent of the final bounty. BountyJobs keeps 25 percent as its fee.

There are no fees to use the website for either qualified employers or headhunters.BountyJobs is based in New York and is online at www.bountyjobs.com.




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