With the war for finding good talent increasingly becoming difficult everyday, the typical organization uses a horde of talent management firms in addition to spending tens of thousands of dollars yearly on hiring websites like Monster, Seek or LinkedIn. Conversely, if you’re an employee of any value in your current organization, it is highly likely that you’re inundated with prospective job offers either by recruiters and headhunters or through online portal such as LinkedIn.
Many have tread down this path and have tried to correct the situation. Unfortunately they have either failed or have become one of the million recruiting firms out there. If Matt Mickiewicz has his way, all this could soon be history(even as his startup currently specializes only in developer profiles). Unlike traditional hiring where recruiters pool in hundreds of profiles and then let the hiring organization choose the best of the lot, Developer Auction tries matching the right candidate for the right role and then lets organizations select the right candidate based on work experience and history.
To sweeten the deal, Developer Auction charges the organization 15% of the candidate’s yearly salary as its fees and gives the hired employees 20% of this share as a hiring bonus. Bloomberg reports that the San Francisco based start-up has raised a capital of 2.7 Mn dollars from various funding partners and is on track to deliver a highly profitable business result by the end of its first year of operations. Its client acquisition activity has also been on the rise with over 400 companies signing on to recruit through Developer Austion’s platform.