Hiring is a space with a clear opportunity as it’s in the center of a boom in new businesses. But a mass of players are also finding it challenging to offer a clear value argument. One of these was TalentPad which shut down less than a year after it raised funding from Helion Ventures.
The IIT and IIM former students founded startup from Delhi. They had a curated marketplace model using analytics to find suitable candidates for its client companies. It even acquired its Bangalore-based rival OptimizedBits in May to boost its analytical capabilities. But months after that it abruptly shut shop with this confusing message: “We helped a lot of companies hire from some of the best tech talent in India and played a crucial role in their growth, while delivering the best customer experience. But, we failed to figure out a scalable business for a big enough market.”
India’s engineering colleges produce over a million engineers each year, but fewer than 20 percent of them are employable. Finding suitable candidates, therefore, is no mean task. Hiring startups have to be quick to figure out what works.
Venturesity, for example, went from a hiring platform to a training platform before revolving to a hackathon model for talent discovery. Another startup Hiree focuses on candidates “actively looking” for jobs, so that recruiters don’t waste time on dead lists. Initially it began with candidates serving out their notice period but changed its name from MyNoticePeriod to Hiree when it broadened its scope.
Source : Techinasia