An invaluable network to transform and save the US economy over $90B in annual recurring hiring costs.
HOUSTON, Feb. 10, 2021. Recruiter.com Group, Inc. (OTCQB: RCRT), an AI-enabled hiring platform with the world's largest network of recruiters, is today announcing a new partner program for its video hiring platform, enabling its growing network of over 27,000 small and independent recruiters to benefit from the transformation of the recruiting industry into a video-first process.
“When we started to incorporate video technology into our hiring processes, we saw an immediate elimination of the hours spent in scheduling telephone screening, reviewing countless paper-based resumes to get to the final shortlist of qualified candidates,” said Evan Sohn, CEO of Recruiter.com.
The average cost to hire an employee is just over $4,000 (Society for Human Resource Management) and will take roughly 42 days. With nearly 5.5M U.S. workers hired in December 2020 alone, this translates into almost $23B and an annualized cost of $276B for U.S. businesses.
"We believe that a video-first recruiting process could reduce the hiring cost by at least 33% in time savings alone, saving U.S. businesses over $90 billion annually," added Sohn. "This business transformation should drive significant revenue and savings for all those who participate, and we are excited to make Recruiter.com Video available to our small and independent recruiters to both use and market.”
Recruiter.com launched its Video platform in Q4 last year; last week, Recruiter.com announced its strategic acquisition of video-enabled candidate sourcing platform, Scouted.io. Recruiter.com’s updated suite of products equips recruiters with the tools necessary to shave days off the hiring process through video screening and AI-powered candidate matching from a database of hundreds of millions of profiles.
Recruiters across industries will benefit from the innovative Recruiter.com Video platform, which streamlines candidate screening and provides organized space for recruiters to comprehensively vet, share, and drive consensus around candidate profiles.
Recruiter.com Video’s partnership program uses an automated onboarding interface to host all necessary marketing assets and affiliate collateral, allowing Recruiter.com partners to focus on adding immediate value to their roster of clients, communities, and networks.
“The first time recruiters use our video platform, they recognize that video will affect recruiting the way it did online dating, real estate, and other sectors that are now video-first," said Jennifer Goodfriend, VP of Platforms at Recruiter.com. "Our partnership program helps increase distribution of our platform and allows our audience and community of recruiters to benefit from the video revolution."
Recruiter.com Group, Inc.
Recruiter.com is an on-demand hiring platform for the world's largest network of small and independent recruiters. We empower businesses of all sizes to recruit specialized talent faster with virtual teams of recruiters, AI job-matching, and Video technology. Visit https://www.recruiter.com.
For investor information, visit https://www.recruiter.com/investors.html.
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Company Contact:
Sarah Schultz
Director of Communications
Recruiter.com Group, Inc.
Phone: (855) 931-1500
sschultz@recruiter.com
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecasts," "forecasting," "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future developments, or otherwise, except as may be required by law.
