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Hiring reimagined, disrupting staffing, bringing people analytics to the very top of the hiring funnel.
First, before anything, thank you Harvard Business Analytics Program, especially the HBAPers who became clients of JobMorph and who recommended others. Incredibly appreciate you trusting me with your job search and the job searches of your family and friends.Job searching and finding people to hire is, according to most people, way too challenging. Technology that is supposed to make things better seems to have had the opposite effect making the hunt for the right person to fill a role more time consuming, more expensive, and more frustrating to both job seeker and employer.Yep. It’s a big assed vision. Three shields, you know. And I have a 4th one. #hbs #hseas #hfas #hds Lot of pressure! And loans!While there are many two-sided platforms, bringing job seekers and employers together, there isn’t one that is three sided engaging an employment coach to prep job seeker and help the machine to learn and thus, improving recommendations of jobs to seekers and candidates to employers.JobMorph introduces talent to hiring managers and talent acquisition teams in a way that other platforms should, but don’t. Imagine if you are a hire product manager in Pharma, being introduced on the daily to PMs in that industry who could fill roles. Reading about them knowing that information has been vetted prior to you seeing it, being able to click on a button to view a full-length interview, or particular questions, and being able to see their results on assessments. And if you are the job seeker, JobMorph helps you prep your “e-packet” and delivers it, with a click of a button, to potentially thousands of organizations. With each permutation, the machine gets smarter learning who is the right fit and who is the wrong one, understanding the nuances of each hiring manager’s quirks, presenting better and better candidates each time. And the job seeker also benefits getting presented to individuals who would most likely want to conduct interviews and make offers.There is no better time than now to make the product available to the market. There’s both interest and need. And the tech, already in use in other industries, is available.Talent, even more so today, has become a global business with rich opportunities. The current players have been focused on version improvements and 62% of job seekers and employers are not satisfied with what’s available in the marketplace.We have seen good response to consumer marketing we have done and strong conversions, high referral rates. Our approach to marketing to employers would be to use venture capital to acquire staffing firms that already have contracts with employers and add the platform as a benefit to their existing contract with the staffing firm. So if the firm is currently providing “brick and mortar” staffing, it would now offer that, along with a machine learning recommender system to the client, for the same contracted price. As the platform becomes more robust, we can increase fees for access to the platform offering it as a prime service.Because of the heft of competitors in this space, the idea is to focus on the staffing industry, particularly the small firm, one state at a time, as a way to gain access to decision makers. The staffing firm already has a relationship with job seekers and employers. In the case of the later, these are contractual. Offering an “added benefit” coming as a result of the acquisition of the firm by a larger player is likely to be well received. As the product gets more users and improves, we would be able to raise prices.For the job seeker, the quality of the service has been what has retained 100%, after the 30 day trial period. For the employer, the benefit will be time savings, savings per hire, and better quality pools of candidates. Keep in mind that part of the reason they would be seeing better candidates is impacted by employment coaching so the client presents a better “employment packet” and performs better in interviews.Increasing our marketing spend will bring us more job seekers and employment coaches. The employers, initially, would be getting an added benefit to their existing partnership with the acquired staffing firm. As employers use the platform, we would be able to perfect it’s UX/UI and the recommender systems. We anticipate that we would get better at acquiring and integration, being able to do multiple acquisitions a year, increasing platform size fairly rapidly.There are three managerial capabilities we really need to make this vision a reality — experience with M&A and integrations, building platforms, and building a team of employment coaches. In our team, we have all those elements. We also have, in this managerial team, successful start-up experiences including building an organization that sold for $55m to JLL Partners.
