Innovation can occur on a large or small scale: it may be about tweaking processes; it may be about a new gadget or app; or it may be about a new business model that challenges the existing structure of an industry. I was attracted to interviewing RecruitLoop because they are in the latter category.
The founders saw problems on the employer side of the market as well as an asset – in the form of a vast number of independent recruiters – whose value was yet to be fully realised. As they say, successful innovations sound radical in foresight, but obvious in hindsight. We should always make sure we are asking ourselves the right questions, and then ensuring we have a structured way to work through the innovation process.
In this interview with Paul Slezak, one of the co-founders of RecruitLoop, we gain insight into the process that saw the development of their disruptive and, based on their journey to date, very successful business model.
How would you describe RecruitLoop to someone who’s never heard of it?
RecruitLoop is a platform for employers to automate and outsource recruitment, on-demand.
Employers can outsource as much or as little of the recruitment process to a curated marketplace of highly experienced independent recruiters who work on an hourly basis, thereby saving employers as much as 80% compared to engaging a traditional recruitment agency.
The RecruitLoop platform connects recruiters with employers through an integrated set of tools and technology including high quality recorded video interviews.
Who is behind it?
The RecruitLoop co-founding team consists of Michael Overell, Paul Slezak, Denis Zubkov and Garry Visontay. In other words, we have an ex-McKinsey consultant, a recruitment industry veteran, a design and technology guru and a serial entrepreneur.
How do you add value and to whom?
This is a great question.
We add value to employers – typically those who can’t justify the exorbitant fees charged by traditional recruitment agencies (which can often be as high as 18% – 20% of a candidate’s salary); or those who struggle taking time away from their day-to-day role to run their own recruitment process. Read more