New Agency Management capability makes it easy for companies to contract and manage all of their 3rd party recruiters from a single point.
SAN FRANCISCO, CA – SmartRecruiters, the hiring platform, announced today a new Recruiter Marketplace that makes it easy for companies to contract and manage all their agency recruiters from a single point. Using the new module, companies will be able to work with the best recruiters on the best terms while having better visibility and control, enjoying a streamlined process.
Companies using the Recruiter Marketplace enjoy the following benefits:
The recruiter marketplace is by invitation only. Customers can invite their preferred suppliers or discover new ones that have been vetted by their peers. Furthermore, SmartRecruiters automatically ranks the best performing recruiters for any given job using a proprietary algorithm based on areas of expertise, key success metrics, such as CV to interview rate, average time to source, and hiring percentage, as well as, customer reviews. This ensures you always work with the world’s best recruiters.
Customers can view terms for all recruiters, negotiate and contract directly online with the benefit of the marketplace transparency. They can also elect to submit a job to the marketplace and let recruiters bid for that business. Legal Terms, Payments and refunds are all standardized and processed through the marketplace giving companies a perfect visibility over their agency spend. SmartRecruiters Enterprise Members receive an additional 10% discount on all recruiters fees processed through the marketplace.
Visibility & Control
Companies can manage all their 3rd party recruiters from one platform; giving them transparency and control over spend, performance, and terms. By providing a single point of entry for all agencies, companies can ensure that only agencies that have a valid assignment may submit candidates. Furthermore, all candidate submissions are time stamped and checked for duplicates to end the much-too-frequent conflicts around candidate ownership.
Candidates submitted by recruiters are visible in the companies SmartRecruiters account where they can leverage the full applicant tracking and collaborative review capabilities to take those candidates through to hire.
“By bringing transparency to the market, companies will have free access to objective evaluations of each recruitment agency’s performance, terms and price,” said SmartRecruiters CEO Jerome Ternynck. “Recruiters, in turn, will be incentivized to deliver higher quality services.”
The new agency management feature – like the rest of SmartRecruiters’ technology! – is free to all customers. SmartRecruiters collects a 30% share of all fees processed through the marketplace.
“The new agency management capability will help us streamline the relationship with our vendors and ensure proper remuneration of new and existing recruiting firms,” said K2 Digital Managing Partner Lawrence Tepperman. “Hiring is just easier when all your candidates are in one place.”
Recruiters who get invited to the marketplace can market their services to SmartRecruiters’ 35,000+ customers across all industries. Through an online Agency Portal, recruiters can receive leads, submit proposals, sign contracts, discuss requirements with the customer, submit candidates and collect fees.
“This marketplace is great; we can deliver on-demand RPO services to a wide range of customers. The online channel makes it more effective for both sides – employer and recruiter,” said Rolf Kleiner, Chief Innovation Officer at Kelly Services, who has worked with SmartRecruiters in a private beta over the last 3 months.
“I’m excited to see this new feature in SmartRecruiters,” said PRG’s Manager of Recruitment and Employment Rich Rubin. “It adds another layer of functionality to an application that is already great.”
SmartRecruiters customers can now invite their preferred recruitment agencies into the marketplace. Recruitment agencies are subject to review by SmartRecruiters, as well as, quantitative and qualitative evaluations from customers.
“We are executing our strategy to provide businesses with a single platform for hiring,” said SmartRecruiters CEO Jerome Ternynck. “Everything you need to source, engage and hire the best talent.”