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Online Marketplace, The Next Generation Hiring Buzz

Online Marketplace

If you are a professional, you must have heard about monster.com, timesjob.com and Internet companies like that. These companies build an online database of professionals, sorted by years of experience, expertise and so on. Commonly such websites are called job portals. The basic operational principle of such portals is that it is free to upload the resume; companies need to pay some amount to have the access of the database.

There are some hiring companies who are outsourced with the jobs to be filled up by the companies. These companies access the database, shortlist the profiles or the resumes that suits the job. Then a personalized email or phone call is setup which initiates the recruitment process.

Come 2011 and there is another type of job opening up and creating a buzz in internet. It is called the Job Marketplace. Yes. As a professional if you have some extra hours or if you are just free from a project and waiting for the next project to come your way, you can post your availability in such market place. Those hirers who look to fill the vacancies continuously scan such marketplaces for getting the right people for the job.

This model is gaining quite a lot of popularity, especially among the small and medium scale businesses. These businesses don’t have the budget for hiring and neither do they have the time to go through the offline interviews. Beside these facts, these marketplaces adopt ranking system where by a client or a customer ranks the person providing the services based on their experience. These motivate the service provider to give their best and also give an insight about his credibility and capability to the potential hirer.

Such marketplaces are seeing a recent boom in both regular as well as part time jobs.  Many of these hiring’s time bound short or medium term contracts which frees the hirer from long term liabilities.

Though such a model is being quite popular among the web development companies and sites like digitalpoint.com gives a lot of opportunity to earn handsomely through their marketplace, the trend is getting accepted by other industries like manufacturing, export and those that had traditionally relied on offline recruitment.

Marketplaces also offer open bids on projects and professionals. These give a competitive edge to the recruiter.  Recruiter knows the competitive price for a position at a particular geography for a particular task.

One of the other reasons for such a model to be sorted after constantly is due to availability of resources from all part of the world. Conventional Job portal databases are mainly country dependent and geographically targeted. Imagine the hurdles of searching for that right candidate from US, sitting back in Melbourne.  Marketplaces give the recruiter with these options as many of the marketplaces are not geographically targeted.

With the recent trends and advances in this area, it is safe to say Online Marketplaces are going to be next generation big change in Hiring Industry.

Image Curtesy: jnairbdesign.com

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