2020 has turned into years where any idea, innovation, thought, and voice can come to the table because everyone knows deep in their bones business, as usual, will not work during the pandemic. Even after the pandemic, the world will be different. Many sourcers are searching for jobs, but this might be the time to consider a different option.
Freelancers work for themselves, rather than for a company and take on contracts from companies but are not considered employees. Freelance sourcing work can be found relatively easily in recruitment marketplaces. Agencies can also submit to recruitment marketplaces. Recruitment marketplaces can be a new source of clients and requisitions for sourcers and agencies struggling to obtain new clients and requisitions.
Recruitment marketplaces are websites where employers post jobs and independent sourcers for agency work on the requisitions. Independent sourcers and agencies source, screen, and submit candidates against reqs within the marketplaces. When a candidate is hired, and sometimes the candidate needs to complete a guarantee period. The guarantee period could be anywhere from 30 – 90 days.
Recruitment marketplaces have different ways of paying. Some pay for profiles, submittals, and interviews, and hire. While others pay a markup paid every hour, the candidate works or for every hour the recruiter sources. This type of payment is found in contract placements. Some platforms offer employers of record service services such as payroll, invoicing, working comp and payroll tax deduction, etc.
Benefits of Recruitment MarketPlaces
- There’s a low barrier to entry.
- Sourcers pretty much needs a computer and a little experience.
- No sales or business development.
- The marketplace will provide access to reqs and clients.
- Sourcer or agency doesn’t need to find clients.
- The recruitment market can provide access to clients in new industries or to high profile clients that might not otherwise have access too.
- The fee can be pretty high for an hourly recruiter coming from an agency.
- Recruitment marketplaces split the fee with the sourcer who sources, screens, and submits into the platform.
Disadvantages of Recruitment Marketplaces
- They don’t tell freelance sourcers and agencies the number of sourcers or agencies working on a req.
- Sourcers and agencies don’t have direct access to hiring managers.
- Sourcers and agencies need to rely on account managers for updates from hiring managers.
Recruitment Market Overviews
Reflik has become pretty popular. Anyone can sign up for a Reflik account. Reflik has mostly permanent engineering positions and other reqs. Many of the positions have relocation assistance and good benefits. If you enjoy doing national searches for engineers, this may be the website for you. The sourcers source, screens, and submits into the platform, and the account manager works with the client throughout the rest of the process. The fee can range anywhere from $5,000 – $10,000. Sometimes Reflik has contract positions. These pay a markup on the hourly rate. Reflik also has source and screen reqs. These reqs pay a flare fee for every candidate the manager interviews. The fees for the position are $500 a candidate.
Crowstaffing is an interesting recruitment marketplace. The platform has MSP clients and direct clients. The company has some big-name tech clients. It also has entry-level positions like warehouse and customer service. The majority of the positions are contract. Recruiter source, screen, and submit to account managers. Crowdstaffing also provides the client’s management and employer of record services. Candidates become employees of crowdstaffing. Crowdstaffing provides basic benefits that are not bad for a contract job. Ctowdstaffing pays a markup on the contract rate for every hour the candidate works. The payment can be $1 – $8 an hour for each hour. Requisitions open and close quickly on this platform. This platform is a good choice for sourcers and sourcers with MSP experience.
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Relode.com focuses on healthcare jobs and a few IT jobs. The platform usually has a large number of reqs. At the time of this writing, it had 200 open reqs. sourcers source, screen, and submit to an account management team. Relode does provide resumes. The platform will recommend candidates for reqs. These can have some time sourcing. The recruiter just needs to pick up the phone to make things happen. When candidates are submitted into the platform, there’s a tagging system that recommends other reqs that the candidate may be qualified for. This saves time because the sourcer doesn’t need to search the platform for jobs to recommend to their candidates. The fees can be from $5000 – $15,000. Reload also pays for submittals. The fees for submittals can be from $50 – $150. There’s usually a guarantee period. If you like to source healthcare candidates, this platform may be for you.
Upwork is a freelance marketplace, well… not really a recruitment marketplace, but It deserves a special mention. Some Upwork clients hire freelance sourcers and sourcers from the platform. These jobs pay hourly, or they can pay a milestone payment. Milestone payment is paid when there is a hire, submittal, or interview. There’s also resume writing jobs here, which many sourcers and agencies are qualified for. Freelancers create a profile and bid on projects. To bid, the freelancer needs connections. Upwork start folks off with 20 connections. Upwork also has a direct contract feature for managing contracts with clients who are not on the Upwork platform.
2020 has been a trying year, but companies and people are innovating and working in ways they thought about before. It’s a good time to self-reflect and perhaps grab a freelance gig if you’re furlough or laid off to earn some income until the next amazing opportunity comes around. The recruitment marketplace can open up new opportunities to agencies that might otherwise be available. 2020 is the year to think outside of the box.