Make money by doing good! Very happy to announce our investment in Techtribe. Techtribe pioneers a professional community website, and aims to monetize the same through a referral based recruiting model. Whats more, it has an incentive model, where referrers can make Rs 10,000 for each successful referral they make.
Indian e-recruiting market has not seen a major innovation for past 7 years, and we think that this model has the potential to capture a piece of the $400m mid-senior level recruiting market. Its also one of the models around social networking that we have been able to better understand, given our prior experience with jobdirect, jobsahead and clickjobs.
Go out, do your friend a favor, and get paid 10000 bucks for it!
Latest posts by Alok Mittal (see all)
- Promoters or Entrepreneurs – A choice for Private Equity players - August 3, 2019
- Startup Marathon Mindset - March 25, 2019
- What’s your Customer Culture? - March 4, 2019
oh…that’s why techtribe is showing annoying job ads recently..”architect required” “engineers required”…ha ha
This can come out in a good way,because you refer your friend so he can be benefitted on this.Getting the recruits from known one is good any way.each one refer one is an conceptual idea which can benefitted here.
techTribe isn’t a social network, it’s a professional one. And you assume we don’t have the software disabling abuse by people who would dump “truckloads” of resumes who aren’t suitable – the software has appropriate feedback loops to throttle them. And noone mentioned resumes to begin with 🙂
Your points are well taken, and we’re working with a model that would work around most of the issues – at least we hope so.
I am not convinced referral based recruiting is going to work in a big way.
* People at mid to senior level in the 400 mn USD market do not go around looking for resumes of colleagues or friends to make only 10,000 bucks.
* People who are junior( less than 3 years exp) often won’t have access to senior level position resumes. Infact, if I am a mid-senior level employee looking for a job change, I would hardly begin by giving out my resume/permission/id to someone who is junior.
* I like to keep a distinction between my social network and my professional network and many people do. Often my social network can help me land up a decent professional opportunity but its rare , atleast in my experience. If it wasn’t the case , LinkedIn model wouldn’t have succeeded.
* Most IT companies have internal employee referral based systems in place. The incentives are higher and scale ( minimum 4x going up higher) and there is also better focus/alignment.
* Incentive to third party for referral is fundamentally flawed. The profit motive can be easily abused by people who work on it full time ( small time consultants trying to make a quick buck by buying truck loads of resumes and dumping it to techtribe. Trust me, there are enough of them out there. ) while it can be a negligent incentive for mid-senior pros who can really make a difference.
One of the few indian websites which is _not_ cheap mockery of a global concern. I was sick and tired of seeing mediocracy in this domain.