Today, organizations seek to hire the right talent who can contribute to growth in so competitive market. the set targets. But finding the platform where organizations can meet all their requirements is not easy. The recruitment process becomes very challenging hence there is a strong need of a platform where recruiters can get the required candidate as per their expectations. CBREX has somewhere resolved this challenge by bringing a large number of talent sourcing platforms. CBREX has become one of the fastest growing B2B tech platform that connects enterprises with curated talent sourcing firms or agencies worldwide. To dive deep into the world of recruitment and know what all challenges are there, Rajeev Ranjan, Editor, Digital Terminal recently interacted with Gautam Sinha, Co-Founder and CEO, CBREX. The discussion revolved around the recruitment industry, challenges and opportunities, growth plans and much more. Read below the excerpts:
Rajeev: How do you see the overall market for CBREX till date in India?
Gautam: Hiring Top Talent is one of the biggest challenges facing organizations today. Companies need to proactively seek top talent as they don’t apply to ads or even put their resumes on job boards. Therefore organizations have to work with multiple Talent sourcing firms or agencies and then hope that these agencies are competent enough to provide them with the talent that they need. Further if they need to hire “niche” skills (the very tough to find) OR hire outside their regular locations (new countries) then they have to find new agencies.
CBREX takes away this friction and provides a single platform where an organization can access rated and specialist agencies to hire top talent anywhere in the world. Indian companies are not only looking for talent in India but also spreading beyond the borders and this makes the CBREX platform even stronger. An enterprise has a strong competitive advantage by having the best talent in the market, and our customers understand this. The impact and benefits CBREX offers makes me believe that we have a tremendous opportunity to grow.
On the supply side, Talent sourcing firms or agencies now have access to requirements they couldn't access before. They are NOT dependent on personal networks to get business and if they are good , they can now compete with the best in the world and earn much beyond what they could have earlier. So CBREX as a platform works for both sides of the equation - hiring companies or enterprises and Talent sourcing firms or agencies
Rajeev: What are the major challenges in the recruitment industry currently? How do you help companies in resolving such issues?
Gautam: On the demand side (for enterprises) the key challenge is - Finding ONE place where I can get adequate volume to fill ALL my positions BUT I don’t have the wade through “junk” to get at the relevant candidates. Even after 25 years of hiring through the internet this problem still remains unresolved.
This is what we are solving with CBREX. The platform provides a company ONE interface which can provide them with adequate candidates for ALL their requirements and they DON’T have to spend TIME in wading through Junk. The platform’s proprietary screening technology delivers a 84% resume shortlist ratio across ANY kind of hire in ANY part of the world. No single platform enabled companies and yet, hire in quick time anywhere in the world. This is where we saw an opportunity.
Rajeev: Give us an understanding of how the CBREX platform works?
Gautam: CBREX is a B2B tech platform that connects enterprises with curated talent sourcing firms or agencies worldwide. The platform allows recruiting firms of all sizes to access open validated requisitions from enterprise employers.
With CBREX, enterprises can engage with hundreds of curated talent sourcing firms to meet all their talent needs - high volume and niche hard-to-fill. Onboarding bona fide firms, setting up requirements screening criteria, scoring resumes, and finally extending offers are all part of CBREX's service offering. With data and automation, CBREX builds diverse, high-quality pipelines that enable hiring predictably at any scale.
CBREX is unique as it has a curated pool of recruiting agencies on the platform. Over 500 agencies log into the platform every day with another 2500 “on call”. Companies/Enterprises can start receiving pre-screened “fit” talent in as little as one hour after a job goes live on the platform. By spending about 30-45 minutes a day on the CBREX platform, a recruiter can close 15-25 positions in a month. High recruiter productivity is ensured.
Rajeev: Can we get some numbers or facts and figures in terms of the number of candidates who have been selected by enterprises through your platform?
Gautam: Over 90 enterprises use CBREX today, and more than 3000 talent sourcing firms use the platform to access open recruitment opportunities. More than 2000 jobs have been filled by talent sourcing firms on the CBREX platform in the last 18 months.
Rajeev: What are your growth and expansion plans in the current Financial Year?
Gautam: We plan to expand our global footprint as well as strengthen our presence in India by showcasing our Digital Vendor Management System (DVMS), which will enable companies to hire efficiently from anywhere in the world (including India) on ONE platform and on ONE contract.
There will be no need for companies to empanel multiple vendors and enter into multiple contracts. CBREX provides them with a single interface for managing their vendor hiring pipeline (including checking duplicates and tracking payments and invoicing). CBREX will become a SINGLE window through which companies will be able to hire anywhere in the world, in a short period of time.