HireMatch.io is a decentralized job marketplace that aims to eliminate the friction and costs of third party intermediaries like expensive recruiters, when firms are searching for talent. HireMatch will reduce the cost to find, interview and acquire new employees by removing unnecessary friction and creating a more efficient marketplace by incentivising “Agents” with their ERC20 token they call “HIRE”. To find out more about their platform we sat down with Chad Kettering, Director of Marketing at HireMatch.io:
Q: You’ve recently announced your plans to launch crowd-sale this month; could you tell us something more?
A: “In the future, more and more things we do (passive or active) are going to get compensated by a token of some sort. In the same way today governments are issuing money, in the future companies will be issuing tokens to marry that value to a function that they have, or a product of their specific offering.”, William Mougayar at Ethereal Summit 2017.
Introduction Innovation and competition go hand in hand, one always driving the other, and the employment marketplace has historically been no exception to this rule. Job boards are an essential part of the recruitment process. With employers and job-seekers alike using these boards as a main method of getting the word out about availability, it is nearly impossible to go through the job searching process without coming into contact with a job board. Despite this, very few users of job boards understand the evolution that these services have gone through.
Although job boards have changed in the past 15 years, one thing remains the same, they all use a “centralized” business model. Centralized applications (websites) are currently the most widespread model for the job board market, and the vast majority of the internet in general. Indeed.com, Monster.com, and Careerbuilder.com all follow this model. Centralized systems directly control the operations and flow of information from a single center. These legacy sites are centralized and do very little to find quality applicants through the high-powered engine of social networks and other information sources. These sites are time consuming and can be overly complicated for users, especially when they are bounced to company homepages repeatedly. In addition, these sites are not fast enough for the growing millennial workforce.
HireMatch will reduce the cost to find, interview and acquire new employees by removing unnecessary friction and creating a more efficient marketplace by incentivizing “Agents” with our ERC20 token we call “HIRE”.
Q: Can you give us more insights into your services?
A: Of course, here’s how it works:
1. Acme Software is growing fast and needs to find a new software engineer.
2. The HR Manager puts the job requirements together and selects a bounty of 10,000 (HIRE) Tokens to acquire this new employee.
3. The HR Manager acquires (HIRE) tokens to post the job to the HireMatch.io Network.
4. The job gets published via a Smart Contract on the Ethereum blockchain.
5. Agents that fit the specific requirements will then get a notification that a smart contract has been issued and are able to refer LinkedIn contacts, Facebook contacts and phone contacts to find suitable applicants to the posted job.Agents can be humans or applications connected via our open API.
6. When the applicant is selected by the company, the final bounty is distributed via the smart contract to every agent who had a part in hiring the new employee (Including referrals and Interviews that were accepted by the company) and the contract is closed. Using this model we plan to dramatically disrupt the employment marketplace and take considerable market share very quickly as cryptocurrency and blockchain technology become mainstream in the next few years. HireMatch is a platform that will be engineered to leverage both Ethereum blockchain technologies and it’s Smart Contracts to increase efficiencies and decrease cost to employee acquisition that many companies face. HireMatch is a closed loop payment system, meaning no new tokens will be created or destroyed and HireMatch will only accept (HIRE) to fuel its network of agents.
Q: What makes HireMatch.io a good choice?
A: HireMatch is intended to be used as a smart contract powered, decentralized, crowdsourced job marketplace platform that will eliminate the friction and costs of third party intermediaries such as expensive recruiters, when firms are searching for talent.