Bounty Jobs.com

Online employer-recruiter exchange.

Steve Levy, aka Vin Dieselevey, gave me a quick tour yesterday of a new eBay style site that allows hiring managers to sell their searches to recruiters. It seemed exciting to me.

Company X posts a job and a fee for filling it. Recruiter X says "I know someone like that" and offers to work it. The company then decides, based upon the performance data for that recruiter, if they want to engage the recruiter for the search.

When a placement is made Bountyjobs.com takes a 25% cut of the recruiting fee (for having brought in the business).

The fees can be good (into the 15-20K range) and can be negotiated higher once your online reputation as a supplier puts your services in great demand.

Problem for Bounty: What would stop anyone from discovering an employer via the site and then doing future business offline? Deez says that isn't a problem (and he can explain in the comments because I didn't get it).

I found the rating system limited. For recruiters, you see the number of jobs worked against number of placements. And for employers you see the number of jobs posted against the number of jobs filled.

I'd like to see comments that tell you that employer X moves so slowly on the interviews that you lost your candidate to another offer before she could hire and pay you a fee.

Deez claims, reasonably, that lousy hiring managers will have poor jobs-posted to jobs-filled ratios and this will send enough of a warning to the recruiting public.

Still, if I was a regular participant I might start a blog offsite called The Bountyjobs Backchannel. And, Deez says, "Go right ahead."

Contact Steve Levy at steve@bountyjobs.com or 646-329-9827 for a tour. It's worth the time.

And, yeah, full disclosure: Vinnie is an online pal, but aside from that, I think a company like this is something everyone in our business should see first hand.

Comments

[Fredd Colletti]

Unfortunately, this site requires a 100% refund if the placement lasts less thas 90 days. The industry standard is a prorated refund depending on the period of guarantee and the period of employment. Makes more sense, doesn't it? After all, who wants to work hard and long hours, find the right person and lose 100% of your reward perhaps based on an arbitrary decision, at a point where you no longer have control of the situation?

[Jim S]

As I understand the terms of service that I read today, unless you are "referred" by a potential "client" you have to pay 1% of the potential fee to bounty jobs just to submit a candidates information on a position. So that would be $100 to $300 - per candidate - just to use the site.

As a Sr Recruiter with over 30 years in the contingency recruiting business that seems a little over the top. I supose that will limit "slinging mud" to some degree but again the BJ revenue stream all comes from the recruiters and I see no benefit to the good recruiter in general.

Just had a situation where I waas referred a candidate that was looking for a very specific location. I marketed that candidate and was told to forward the resume. The company reviewed the resume, was interested and then told me I had to submit to them through BJ.

If this individual goes to work at that firm BJ has just taken some money out of MY pocket - for doing nothing for me. Seems like just another way to screw the recruiter.