Mr. Gautam Sinha, Co-founder & CEO, CBREX speaks about the recruitment industry
- Tell us about the journey of CBREX till date.
The recruitment industry is characterised by a large number of small/single-person firms making it a highly competitive industry. This highly competitive environment presents challenges to both talent sourcing firms and employers. Talent sourcing firms and enterprises are keen to leverage technology to make the recruitment process more efficient.
There are 3 main problems that we identified in the current recruiting process at the enterprise level
1.If one wants to hire in volume , one needs to go through a lot of “junk” or irrelevant resumes before arriving at the right one. A single solution that solves for both Quality and Volume does not exist
2.If one needs to hire in multiple countries , one needs to tie up with local recruiting agencies and so contracts , knowledge and time to start is a big problem. There is no ONE solution that can enable a company to hire anywhere in the world within days.
3.The time taken to hire “niche” skills is very long as job boards are not effective and individual recruiting firms have their limitations.
CBREX facilitates seamless interaction between talent sourcing companies and enterprises/employers by offering a single platform for all interactions. Employers can post all their job openings on one platform, and talent sourcing firms and consultants can fill them on the same platform.
Four of us started CBREX in the mid of 2015 . Our combined experience in the recruiting /staffing and product building space gave us the confidence to start to build the platform to make hiring a pleasure.
We spent the first 2-3 years building a recruiting agency pool by aggregating from across the world . Hiring companies or enterprises started using the platform in early 2018.
The last 24 months have seen a more than 14x increase in the number of monthly placements (candidate selections) through the platform.
- What is the USP of CBREX?
CBREX is a B2B tech platform connecting enterprises to recruitment firms across the world.
CBREX provides “screened” or “pre vetted” talent at scale in any part of the world. Current solutions (job boards , individual agencies or RPOs) are not able to do that making CBREX a differentiator in the recruitment industry.
The strength of CBREX lies in its engaged and curated recruiting agency base. More than 500 agencies log into the platform every day of which more than 50% use its mobile app. This ensures that hiring companies get access to pre screened talent in super quick time (in some cases in less than 1 hour of a job going live). Our proprietary resume screening technology ensures that the resumes that a hiring company receives is a “fit” for its requirement (currently the platform operates on a 84-86% resume shortlist ratio).
A recruiter working in a company is able to close 15-25 positions in a month on the CBREX platform by spending not more than 30-45 mins a day on it. This ensures very high recruiter productivity.
- How is it bridging the gap between recruitment agencies and enterprises?
CBREX is a curated B2B recruiting marketplace that enables relevant recruiting firms (filtered by its algorithm) to engage with enterprise hirers . The firms are chosen based on the type of requirement ie high volume , niche and leadership. In addition the location of the requirement also plays a role in agency curation. Recruitment firms now gain access to fulfill requisitions for any enterprise irrespective of its location and same for enterprises ie they can access a firm based in any part of the world.
The recruiting firm rating system ensures that only the best fit work on the positions. This ensures a marketplace where ONLY performance matters.
In the offline non digital world , the selection of a recruiting firm Is driven by its location OR the network that it processes and NOT its performance.
CBREX is making the world of B2B hiring flat and driven ONLY by performance.
- How is it beneficial for the candidates? What is the recruitment process?
For the candidates, there is no change in the process. The recruitment firms approach them with a position. If they see a fitment, the resume is uploaded on CBREX for the enterprise to consider. And there on, the interview process continues till the position is closed by making an offer.
- Can we get some numbers or facts & figures in terms of the number of candidates who have been selected by enterprises through your recruitment process?
Over the last 18 months, talent sourcing firms on the CBREX platform have helped over 100 enterprises/employers close more than 2000 positions.
- How many companies have been using this portal so far?
CBREX counts over 90 mid-sized to large enterprises as customers, and over 5000 talent sourcing firms use the platform for accessing open recruitment requirements.
- What are your growth and expansion plans?
Our growth plans include expanding our global footprint and strengthening our India presence by showcasing our DVMS (Digital vendor management solution) which will enable enterprises in the country to hire efficiently from any part of the world (including India) through ONE single platform and on ONE contract .
Companies will not need to empanel multiple vendors and enter into a multitude of contracts . They will make use of a single interface on the platform and use it to manage their vendor hiring pipeline (including checking duplicates and tracking payments and invoicing). CBREX will emerge as a SINGLE window over which companies will manage ALL their vendor hiring in any part of the world. It will enable them to hire any skills , anywhere in the world in super quick time.
- Do you see this portal being used by colleges for their placement process in future? By their placement cell?
Currently that is not part of our product road map. The focus is on the lateral hires (experienced candidates).