If you were ever searching for a job during the past two decades, there’s a good chance you’ve used an online job board; a website that lists jobs supplied by employers. Such a “board” could’ve been found on shop windows, in newspapers, and now on the Internet.
If at first there were only one or two such websites, now there are thousands of job boards that feature open positions for candidates to consider. Each has evolved in its own way; some are focused on a particular industry, others functioning in certain geographical locations. But they all have the same goal: giving job seekers as many choices as possible.
All of these digital solutions implemented sorting and filtering functions.
BUT: given the increasing number of job openings, isn’t this becoming a problem bigger than a geographical or skill-level filter?In the US last year there were 6.7 million job openings and 4.8 million in China, but with only 1.7 million new jobs created only at the beginning of 2019, you can tell that the problem of job-seeking becomes bigger on a global scale. In regard to technology, when there are millions of records that need to be analyzed and matched, artificial intelligence is the de-facto solution. Anyway, the recruiting industry’s problem is not as simple as mix and matching everything into one bowl and get good results. People don't have so much time and patience to spend on the interview, while employers don’t have so much money to spend in the process. A recent survey by the Society of Human Resource Management found that the average cost per hire is over $4,000. So, if technology alone can save their time and money, what’s the solution?
Surprisingly, the industry itself, with a little push from technology. That’s why we are going to introduce the characteristics of a three-sided market model where candidates, employers, and a network of referrers can share the best opportunities with the hel...