In a dynamic market with fiercely competitive recruitment scenario, everyone constantly aims for the better.
Hiree.com is providing a platform for recruiters to hunt for active jobseekers based on their requirements and connect to them in real-time. It is a fast way to hire within a matter of days or even hours.
“The company is at the forefront of innovation in the recruitment space,” believes its founders, who have numerous years of experience in the Product space. Read more to find out how these pros started off on a fresh journey.
1. Tell us about your background before building Hiree. Share with us briefly about family, education, entrepreneurial journey and inception of Hiree.
Before Hiree, both the founders, Abhijit Khasnis & Manjunath Talwar, used to work for Product companies such as Yahoo, Oracle, i2 Technologies etc. Abhijit, as the Director-Engineering at Yahoo, used to handle a team of 300 engineers. The biggest problem that he used to face was just-in-time hiring as finding an active jobseeker who can join within days was highly challenging. The traditional hiring solutions have very large candidate pools – most of them passive. It requires far too much effort to find candidates willing to change jobs. The standard time to close a position was 5-6 months. The pursuit of a solution to this problem led Abhijit & Manjunath to start Hiree.
With Hiree, we aim to solve this problem by providing only active candidates in the fastest way possible. Using our platform, employers can hire in matter of hours/days. Hiree has built core algorithms that identify active candidates. It brings hiring to mobile phones making the process highly efficient and real-time.
Manjunath, the CEO of Hiree, is an alumnus of the Indian Institute of Management (Kozhikode). He has been a head of product at Yahoo for various global properties and has also handled project management responsibilities for accounting and ERP products in his past experience. Abhijit is an alumnus of Birla Institute of Technology & Science (Pilani) and is the CTO of Hiree.
2. What is the potential and industry attractiveness of hiring and recruitment services in India? Is it still an Urban India concept?
A recent report suggested that India had over 115 million jobseekers in 2014. This number is almost 20% of the employable population in India. Of these, nearly 15 million jobseekers were from the white collar segment. Recruitment in both the white and blue segments is conducted using various kinds of sources including newspaper advertisements, online job portals, referrals etc.
Another recent report suggested that nearly 70% of organisations (hiring primarily white collar jobseekers) utilised online job portals as a medium of recruitment. Hiring and recruitment services currently have much high penetration in urban areas than in 2nd and 3rd tier cities; however, it is clear that in order to fulfil the scale of recruitment of many hundreds of millions of jobseekers, the efficiencies gained through online recruitment will need to be utilised and this effect is already being seen in the form of growth in acceptance of alternative recruitment solutions.
As jobseekers from 2nd and 3rd tier cities and rural areas become more educated, aspirational and start coming online, enterprises of all sizes will increasingly accept hiring and recruitment services to find them. Thus, the potential for growth in the recruitment services industry is tremendous. The government has already commenced efforts under the ‘Skill India’ initiative to achieve this. The private sector must step in now.
3. What is hiree.com all about? Tell us in detail about the product offering and the target segment?
Our business is oriented towards providing the following improvements in the recruitment process for the 2 primary stakeholders in the industry:
For recruiters: Expediting the hiring process by providing relevant data points for verified jobseekers
For jobseekers: Helping get better job offers for jobseekers quickly.
On our platform, job seekers actively looking out for opportunities can look for better offers and recruiters can look to fulfil their resource requirements quickly through a pool of whetted jobseekers. Today, one of the major challenges recruiters face is the need to filter out inactive job seekers from potential interviewees. Hiree allows recruiters to look only at active candidates, by deactivating all candidate profiles older than 90 days. Candidates get interview invitations based on their past experience, current status and skills.
4. What is your competition in the market? What is it that sets you apart from your competition?
Our top competitors are Naukri, Shine, LinkedIn and Monster. The differentiation of our service is inherent in our business itself. With hiree.com, recruiters/companies look for jobseekers rather than the more common antithetical model. Job searches are made less time-intensive through our proprietary smart-matching algorithm which focuses on jobseeker activity signals to provide the best and quickest match for recruiters. The company is at the forefront of innovation in the recruitment space. It has leapt ahead of competition by constantly adding benefits like real-time alerts and a unique private messaging system. We have the industry’s first Android App for recruiters which allows them to connect with candidates through call, whatsapp, SMS, e-mail or schedule meetings in real-time for future discussion.
5. What is the revenue model of hiree.com? Can you briefly summarise the growth achieved in both volume and value from the day 1 till now?
The Hiree service is available to recruiters through various subscription options. However, it is free for jobseekers. In this recruitment model, the jobseekers do not have to look through thousands of job openings posted by organisations and recruiters. Rather, it is the recruiters who can search for profiles and skill sets to match their requirements. Since we started in April, 2014 we have added around 6 Lakh jobseekers and more than 2500 companies have hired from us. Some notable names are Wipro, Accenture, HCL, Cognizant, Flipkart, CommonFloor, Amazon, Swiggy, Uber.
6. Can you tell us about your other founders/core team, their background and rich experience?
About our founders-
Manjunath Talwar (CEO)
Eductation – IIM-Kozhikode
Age – 39 years
Last Employer – Yahoo Inc.
Last Designation – Product Head – Yahoo Travel
Total Years of Experience – 16 years
Previous companies worked in – i2 Technologies, Tally Solutions
Notable achievements – Managed consumer facing products like Yahoo! Autos, Travel, Movies, Games and Lifestyle. Enterprise Products at i2 Technologies and Tally Solutions. Yahoo! Superstar award for Lifestyle & Entertainment Lite
Abhijit Khasnis (COO)
Eductation – Birla Institute of Technology & Science, Pilani
Age – 39 years
Last Employer – Yahoo Inc.
Last Designation – Director – Engineering
Total Years of Experience – 17 years
Previous companies worked in – Oracle, i2 Technologies
Notable achievements – Multiple Patents filed in areas of software deployment, HR efficiency. Managed all Yahoo media sites outside US. Extensive experience in building core engines of massive enterprise applications and global scale internet services.
Profile of Management
Our management team includes experts leading functions like marketing, sales, engineering and product management. All these experts have decades of combined experience in large conglomerates and startups in the technology sector.
7. How are you all funded? Any early stage money/seed stage experience that you would like to share with us?
During bootstrap stage we used our savings, post that we have been funded by few Angel investors and IDG Ventures.
8. What will hiree.com look like in 5 years from now? All perspectives – people, business, revenues, team, size or anything you foresee for the venture.
Our vision for hiree.com is to become the most efficient, tech-driven hiring platform in the world. In 5 years, we see the company as being the #1 choice for employers across India for their recruitment needs.
We have a 3-pronged road map for our platform:
Deep technology focus to further gain massive efficiencies;
Expand beyond India;
Integrate best-of-breed vertical solutions into the hiring platform.