StartupTalky

Tag: Recruiter

  • How Do Job Portals Make Money? | Job Portals Revenue Model

    More than 26% of the Indian population is using the internet today. Different people spend time surfing the internet for various reasons. Be it ordering food online, shopping from e-commerce platforms, or searching for jobs, our lives today are very much dependent on such platforms.

    Today even online job portals have become a crucial part for both job seekers as well as recruiters. The hiring process has become easy for companies and there are abundant opportunities available for the candidates. However, there is certainly one question that comes to our mind – How do job portals make money?

    Almost all job portals give the option to explore jobs, seek opportunities, and register for job updates just for free. In this article, you will get to know how these job portals make money.

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    Database Selling
    Premium Content
    Affiliate Marketing
    Email Newsletters
    Offering their Products and Services
    Hiring Events

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    There are several ways in which these job portals make money by publishing advertisements. Usually, when a company is in need of employees, they contact job portals in order to outsource some of their work.

    Job portals advertise these job openings on their homepages and websites where they get huge traffic of visitors. The job portals advertise such posts into various categories depending upon the job location, type of job, etc.

    In addition to job posts, there are many other ways in which these job portals can earn a huge amount of money by displaying advertisements. For example – Google AdSense. This is one of the most efficient ways to monetize the website. By creating an account on Google AdSense, these websites can publish advertisements and earn heavy amounts if they have a good volume of traffic on their website. This money is usually earned by pay per click model.

    Another common method of earning through websites is by placing banner ads on websites. These banners feature jobs, services, or products related to the website niche and the clients get good visibility on the job portals. Banners, buttons, tile adverts, and all such related advertisements help the job portals to earn a good amount of money.

    Database Selling

    Whenever anyone wants to look out for jobs online, these job portals ask for free registration by simply making an account on their website. The registration details include the job seeker’s name, email address, phone number, etc.

    This data is recorded with the job portals and whenever companies are in need of prospective employees or are looking out for candidates for the recruitment process, the job portals sell them this data.

    This is one of the most common and simple ways of earning money for job portals. Also, there are many such platforms that also sell data to job seekers. This data is nothing but details about the vacant positions in different companies.

    Premium Content

    Today many job portals have differentiated their services into free services and premium services. This helps them to make their customers buy their premium services.

    By charging a basic amount to the customers i.e. both the recruiters and job seekers, these websites earn handsome money. To the employers, these portals sometimes charge on the basis of every candidate they interview or offer services in a lump sum.

    As far as the job seekers are concerned, these portals charge fees monthly or annually depending upon the need of the candidates.

    Affiliate Marketing

    Many job portals try to use affiliate marketing strategies to earn revenue. Affiliate marketing is nothing but a process of making money by recommending other’s products and services.

    When the buyer is interested in that product or service, the affiliate marketer gets a commission on every sale. Similarly, job portals use this technique. They act as an affiliate and charge commission from recruiters and applicants.

    Email Sales

    The job portals extensively survive on the database that they have. It is one of the most important assets of their business. One such key resource email. When the companies plan to have mass recruitments and enormous openings, they reach out to job portals for purchasing email databases.

    Since it is unlikely for a company to hire candidates by just sending emails to them, it actually helps them to get many options so that they filter the best ones according to their needs.

    Offering their Products and Services

    There are various products and services that are offered by job portals. A few of them are mentioned below:

    Resume Writing

    Many job portals offer resume writing services for job seekers. They partner with professional resume writers and provide these services to their customers on a chargeable basis. These resume writers also help job seekers to modify, change the existing resumes of the customers.

    Resume Featuring

    Another interesting service offered by job portals is that they feature your resume if you take their premium services. Many job seekers are very serious about finding the perfect opportunity and resume featuring can be very helpful for them.

    Resume featuring can help the candidate stand out from the crowd as their resume would be highlighted for a certain period by the job portal on their website or platform.

    Another type of resume featuring is by recording a video resume or cover letters with which the candidates can be highlighted on the job portals.

    There are courses offered by various job portals that are designed to add value to job seekers’ profiles. These job portals sell such courses, provide certificates after course completion, and earn money.

    Coaching Services

    Job portals offer their coaching services for job seekers who want to develop their resume writing skills, cover letter writing skills, and interview skills. They have various professionals from the industry who help job seekers in learning and improving these skills.

    Hiring Events

    There are various job portals like Indeed that allow employers to promote their hiring events in which they virtually interview multiple candidates. Employers post and promote such events on these job portals. This attracts many candidates who are then interviewed before the event is hosted.

    Once these interviews get over, the shortlisted candidates are invited to the hiring events. In order to do conduct all such activities, job portals charge a fee to the employers.

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    Conclusion

    These were some of the common ways job portals make money. Many job portals let job seekers create an account for free and then try to sell their products and services or courses to earn revenue. One of the major sources of revenue for every job portal is database sales.

    FAQ

    Is job portal business profitable?

    Yes, a job portal business can be profitable if you choose the right revenue model.

    How much does it cost to develop a job portal?

    Developing a job portal can cost you around $5000 to $40,000.

    How does a job portal work?

    Job portals connect job seekers to recruiters for free. They usually earn money by selling databases of job seekers to companies.

  • What is Headhunting in Recruitment? | How Headhunting Works?

    "If you’re doing well, you’re a target, nobody’s interested in you except how you can be of use to them." – Richard Grant

    This is the way headhunting works. You may have heard a lot about recruiting agencies and  may be familiar with how an agency works. But what is headhunting? Let’s take a look into the plan of action of headhunting.

    About Headhunting
    What Do Headhunting Agency Do?
    How Headhunting is Different From Recruiting?
    How Does Headhunting Work?
    Types of Headhunting Agencies
    Who Are The Clients of Headhunting Agency?
    How do They Choose Employee?
    Conclusion
    FAQs

    Headhunting Tips and Tricks

    About Headhunting

    Headhunting is the process of finding potential candidate for a specific job profile. It is done mainly by a group or a company or an individual, commonly called headhunters.

    What Do Headhunting Agency Do?

    They headhunt the perfect candidate for a particular position, that may be an executive post in a company such as CEO or MD. These candidates may be happy with their current position and may not be looking for a job change. But that’s where a headhunter starts his job. They get paid by their clients to hire the most experienced and valuable and coveted candidate.

    How Headhunting is Different From Recruiting?

    What does a recruitment agency do? They post job offers, receive thousands of resumes for that 1 vacancy they have posted, shortlist the resumes to find the best ones, call for interviews, finalize the ideal candidate for their vacancy. This actually works while looking for employees or workforce who are responsible for the production or providing services that the company offers to the public. While in the case of headhunting, they select candidates without posting offers or letting them know they are  being hunted. If someone is found apt for a position, they are directly contacted, offered the top positions they are capable of, without adhering to the antiquary.

    After successfully headhunting the quintessential, they are directly contacted and offered the job they might have not thought about yet. Headhunters are given the complete authority to find the perfect candidate by their clients.

    How Does Headhunting Work?

    Headhunting

    Head hunters may concentrate on a particular area of interest. They gather the details and connections among that particular area and maintain a good relationship with the clients by constant communication. They attain success by choosing the right candidate for the right position. For that, they have to ,maintain a proper course of action for the hiring process.

    They must have the data of most talented professionals in their area of interest or for whom they are working for.

    They must have the ability to match the perfect person with the clients requirements.

    Matching doesn’t mean matching the resume which fulfills clients requirements, they must be proven talents, else which can make a black mark in a headhunters profile. For that, these candidates must go through thorough assessment before letting know about the new opportunity.

    Although the whole process is completely different from recruitment, both target in matching the job with the ideal candidate. Headhunters focus on the job and select the ideal one whereas recruiters select the one from a batch of qualified candidates.

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    Types of Headhunting Agencies

    • Contingency basis headhunting agency
    • Retained headhunting agency

    Both are headhunters with different mode of operation, with their own advantages and disadvantages.

    Contingency Headhunting Agency

    They focus on completing the work of hiring first and then getting paid. They are cheap compared to retained headhunters, but gives more assurance as they have to get paid for what they do. They are forced to complete the whole process within a time limit to keep up a good position in this field.

    They would be completely prepared about the candidates and the job offers they get to be filled. So they will be ready any time to fill the vacancies notified the client companies with the available data in their hands. Presenting the best candidate in front of their clients make them win in this field and they work hard to ensure the same.

    Retained Headhunting Agency

    Retained headhunters, on the other hand, are paid at first before finishing the hiring process and after the whole process is done, they get complete payment from the clients. They assure more possibilities of getting the ideal person for the vacancy reported.

    Both these agencies work on a global basis to stand out from the crowd. Choosing the best available person according to  their client’s requirement is not a simple task. For that, they have to check globally and pick the perfect one and communicate with them.

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    Who Are The Clients of Headhunting Agency?

    Their clients are the companies who are in search of exemplary talented professionals for their company. They can’t go through a heavy recruitment process for filling the position of a CEO or MD. So they go to the headhunters to get the perfect employee for their firm.

    Next is their responsibility to find the best match for the particular job. They are already connected with a large circle of employees and firms based on their experience in this field. So that makes it easier for them to choose the correct one for each assignment.

    How do They Choose Employee?

    In this contemporary world, everyone is living or working digitally, which makes the job easier for headhunters. Digital life exposes the work, industry, skills, and professional experiences and many more details a headhunter would look for while headhunting the candidates. Direct Communication and giving value to everyone’s time makes one a good headhunter. Choosing a high level employee to a low profile job and an employee to a high job profile are the mistakes headhunters can make if they are not completely prepared about the candidate and the job profile.

    Headhunters research about the candidate’s profile available or with whom they are connected with and choose the perfect one. Candidates or top level employees who update and showcase their skills are more likely to be shortlisted by the headhunters. Also, active network and good communication skills are add-ons to get captivated by the headhunters.

    Conclusion

    Thus headhunting is not about hunting fresh or new faces. It’s all about selecting the expertise for a top level vacancy and convincing them to join the new company through genuine and clear cut communication.

    FAQs

    What does headhunting mean in recruitment?

    Headhunting is a specialist recruitment service which attracts candidates with relevant work experience for a particular job profile.

    Is a headhunter the same as a recruiter?

    Headhunter searches and finds the potential candidate and recruiter is involved in the the hiring process of the candidate.

    What does a headhunter do?

    Headhunter hunts for candidates to find exclusive or highly skilled candidates for top-level positions.