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Recruitment businessman James Uffindell is launching a new service that allows users to headhunt their network for money with the creation of Job Bounties (www.jobbounties.com). The site will be inaugurated on 14 November 2012 and is branded as the first social recruitment marketplace that gives people the chance to cash in a ‘bounty’ for every job listed.
Job Bounties will work as a referral site that claims to reduce talent acquisition costs to the “true” market value for that vacancy. Employers can list a job and set a bounty that reflects how much they are willing to pay for the right candidate. These bounties are then paid if a candidate has received a job offer through a recommendation or through a direct application.
The company claims the new service takes the concept of social recruitment to a new level. “Everyone is talking about social recruitment but no one has linked up the economics of job referrals or promoted the transparency of the marketplace. By head-hunting your friends and contacts, Job Bounties takes incentivised referrals to a new level of direct engagement between job providers and the network of job seekers who will be rewarded for who they know,” said Mr Uffindell.
He believes that the hiring process is too expensive in the UK, something the peer-to-peer platform aims to tackle. It will initially focus on the London market in jobs related to financial services, consulting, FMCG and retail, digital and marketing, IT and software.
Mr Uffindell is known as the founder of Bright Network, a careers network site aimed at graduates and undergraduates.