Gurgaon: Kartik finished his BBA this year and wanted to find a good job near his home. He signed up with MeraJob, a job portal, and created his SmartProfile™in which he entered his qualifications, preferences, skills etc. Before long, he started receiving notifications that he was shortlisted for jobs matching his preference for location and salary. This is hugely convenient, but, what’s more astounding is the sophistication of the engine behind this job search. HR Tech is behind this innovation in Merajob and is now driving transformation in the recruitment portal space.
By Leveraging HR Tech, MeraJob claimed that it is now India’s 1st Job Matching Portal and offers pre-screening solutions for recruiters. Pallav Sinha, founder and CEO of MeraJob, said that HR tech helps employers hire faster, at lower costs, with better quality sourcing. Mr Sinha informed that now the portal moved beyond the classifieds approach of recruitment and currently maintains over 700,000 curated SmartProfiles and close to 1,000 employers.
According to labour ministry data, around 1 million people enter the workforce in India every month, though attrition rates remain high. At such scale, to find the right person for the right job is imperative for economic productivity. This is precisely whereMeraJob approaches the issue like a Credit Bureau. Their algorithms track each person’s behaviour through factors like which jobs were recommended to them but not applied for, which interviews they did or didn’t go for, what their past responses to screening questions were, and more. Behavioural data, more than transactional, allows them to predict the right job-candidate fit. So much rich data is collected that they are more like a data analytics company, and with every step the candidate gets more and more tailored and focussed recommendations, hence, much greater chances of finding the right job.
The biggest problem recruiters deal with while hiring is that of volume, and consequent loss of quality checks. A recruiter who is looking to hire 5 sales people can receive hundreds of applications, a large percentage of which are unfit (no sales knowledge or background) or lacking in intent (applied for the job even if not interested). This is the area where MeraJob really comes out shining, because they create custom filters that only let people matching the requirements to apply for the job, and recommend other jobs to the ones who don’t. Their focus is lower in the funnel of hiring, where it’s about quality candidates and not quantity.
Human Resources technology (HR Tech) is one of the hottest areas for automation in the corporate world right now. All companies, whether in early or late stages of growth, struggle with managing their workforce. Talent acquisition is the next great war for most of them. A talented and happy workforce is one asset no rival can imitate.
MeraJob is at the forefront of ushering in this change by bringing HR Tech to the underserved mass and lower-end hiring in the Indian market. Their smart automation backend takes the guesswork out of hiring for employers and brings better vacancies for jobseekers. By generating results lower down the funnel of candidate sourcing, i.e. focussing on quality candidates and not just the entire pool, they provide exceptional results. Additionally, this model works on subscription of their product packages, and not per placement. Which means that someone who has a very well-defined requirement and uses well-constructed filters can hire multiple candidates at half the time and half the cost.
Mr Sinha said that more recognition of the transformative value of MeraJob’s model comes from the National Skill Development Corporation and the National Career Service which have signed them on as Innovation Partner and Placement Organisation, respectively. Through these, MeraJob will be registering individuals trained under the government’s flagship Skill India campaign, in order to help them find jobs. This kind of people-first approach is what makes their HR Tech products so useful for recruiters and jobseekers alike, and the potential is immense for India Inc.