Looking to improve the human resources market, BountyJobs is capitalizing on an area of historically problematic communications. The company aims to enhance connections between corporate recruiters in HR departments and executive headhunters. This is a smaller segment of HR functions than linking employees to either recruiters or headhunters. However, BountyJobs provides an important cost saving process. This has recently garnered the company $5,000,000 of institutional capital.
By using the BountyJobs web application, HR departments secure more efficient contact with executive headhunters. This saves time from making a long series of phone calls. By centralizing the role of headhunters, the hassle is removed from sending jobs through various headhunting channels.
With the BountyJobs website, headhunters can read job descriptions and instantly identify finders fees. Headhunters who specialize in particular industries or jobs can use the site to request permission from the posting company to work on a particular open job position. The market for BountyJobs consists of about 10,000 headhunters.
The BountyJobs site also allows employers to engage a number of headhunters and monitor performance in finding the best new hire in the fastest time period. Companies have a free streamlined way to find the optimal job candidates by utilizing specialized headhunters.
BountyJobs appeared on the 2011 lnc. 500 list. This is Inc. magazine’s ranking of the fastest growing privately held companies in the US. The company previously obtained $15,500,000 of capital in 2008. BountyJobs will use the new capital infusion to enhance its website and expand services.