Delivers Entry-Level Talent to Fill Nationwide Labor Shortage
HOUSTON, TX — May 13, 2021 — Recruiter.com Group, Inc. (OTCQB: RCRT), an on-demand recruiting platform, today announced the launch of its First Jobs Initiative to deliver curated pipelines of qualified first-time job seekers to employers across the US.
Employers looking to draw from this pipeline of talent may visit https://www.recruiter.com/employers.html.
"First-time job seekers are facing a higher unemployment rate than established professionals. At the same time, companies hiring career-oriented hourly wage workers are struggling to fill roles," said Evan Sohn, Recruiter.com's Chairman and CEO. "Our First Jobs Initiative is an opportunity to solve both problems at once. Our goal, however audacious, is to connect these candidates with the companies looking to hire."
As companies look to staff back up amid the nationwide easing of pandemic restrictions, Recruiter.com's First Jobs Initiative can match employers with pre-vetted, motivated applicants who are eager to start their careers. Recent graduates from high schools and two- and four-year university programs are unemployed or underemployed at a higher rate than other demographics in the workforce.
Last week, BLS reported a record-high number of job openings. At the same time, 40 percent of recent college grads are underemployed, compared to 33 percent of all college grads; the unemployment rate for recent grads is 7.2 percent, compared to 4.7 percent for all college grads. These unemployed and underemployed candidates comprise a robust talent pool that could help close the labor shortages plaguing so many companies in the wake of the pandemic.
To help close this gap, Recruiter.com is working with Fortune 100 companies looking to hire early career applicants and, in turn, is providing candidates with excellent first job experiences.
"With today's job seekers changing jobs slightly more often than their predecessors, the way we think about first jobs must change. For recent grads, a first job is a stepping-stone into the professional world," added Sohn. "Our First Jobs Initiative has the potential to help hundreds of job seekers start their professional lives with high-quality customer service, support, and sales roles at major US brands and companies. Likewise, Recruiter.com's expansive candidate pool can be a source of skilled job seekers at a time when employers need them most but can't seem to find them."
Recruiter.com's curated talent pipelines draw from a differentiated database of diverse candidates. Of all candidates, roughly 50 percent have less than five years of professional work experience, 27 percent are first-generation college graduates, and 49 percent identify as non-white.
"Our candidate pool represents more than 7,000 colleges and universities globally," said Jacqueline Loeb, SVP of Recruiter.com. "Most importantly, our comprehensive video-enabled profiles allow employers to look beyond the resumes and understand the nuances of how a candidate thinks and what motivates them. Candidates, too, have an avenue to present the full range of their soft and hard skills, which can otherwise be challenging for a recent grad with a limited resume. We allow candidates to get hired based on their potential in addition to their prior experience."
Recruiter.com Group, Inc.
Recruiter.com is an online hiring platform delivering on-demand recruiting technology and services to both large and small businesses. With AI and video technology, and the world's largest network of recruiters, Recruiter.com delivers on-tap recruiting that flexes with hiring needs.
To learn more, visit https://www.recruiter.com.
For investor information, visit https://investors.recruiter.com
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Company Contact:
Sarah Schultz
Director of Communications
Recruiter.com Group, Inc.
sschultz@recruiter.com
Phone: (855) 931-1500
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" "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, 2020. 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 publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
