BountyJobs’ Agency Upgrade Gives Niche Firms New Tools

Bounty Jobs refreshAlmost a decade after its launch, BountyJobs has became a leading broker of executive search job orders, handling nearly $60 million worth of fees last year and earning recruiters an average of $22,113 for every placement.

Yet, even after signing up some 50,000 recruiters, BountyJobs still evokes strong feelings within the industry. The biggest objections today are pretty much the same as they were back in 2006: the BountyJobs marketplace turns job searches into a commodity business cheapening fees and minimizing the importance of the agency-client relationship.

However, fee percentages haven’t been much affected, hovering just above 20%, according to BountyJobs data. And the requirement that agencies work only within the marketplace with client developed there hasn’t been much of a deterrent. In fact, so popular has the site become with agencies that BountyJobs is limiting the number and niche of newcomers.

Today, the only way an agency can join BountyJobs is by having a specialty in short supply on the site or by being on an employer’s preferred vendor list, explained CEO Mike Hard and COO Jerry Aubin.

Just in the last month BountyJobs overhauled its agency search services to make it easier for niche firms to find reqs in their specialty and to provide all firms more visibility into open jobs and more data about employers so they can make better decisions about whether to accept or seek a search.

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In a recent demo of the new interface, Hard said the enhanced site search and notification features were all developed from agency requests. All the improvements, he said, are “things to help them find the right jobs, the right employers.”

Three key enhancements were made to the agency service:

  1. A “pro-level search” that, Aubin said, will make it simpler for agencies and individual recruiters to find the jobs in their “sweet spot.” More contextual, the search returns will deliver job listings that match the intent and not just the precise words, ranking them  on relevancy.
  2. Priority flagging to designate jobs where an employer needs someone yesterday or where the candidates submitted to date just haven’t worked out and more help is needed. There are safeguards to prevent an employer from flagging all jobs as high priority, including a mandatory conference call between employer and agency.
  3. Greater transparency into employers and individual searches. An agency can now tell how many agencies have submitted candidates and how many resumes have been submitted, what’s happened, and how many agencies are still working the job. Just as important, an agency will now be able to evaluate an employer on their responsiveness and activity level.

Acceptance of what Hard and Aubin called a “refresh” of the agency side of BountyJobs has been strong. BountyJobs’ numbers show that in the first five days after introduction of the new features and services, more than 3,100 agencies conducted 36,000 customized searches.

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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