Replies to This Discussion

Permalink Reply by Christopher Poreda on September 2, 2008 at 5:11pm

Hi Jason,

I know many people who have tried it without success...although some have made a placement here or there, usually junior recruiters working excess inventory.

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Permalink Reply by Jerry Albright on September 2, 2008 at 6:36pm

For me it's just the general theme of the place. The name alone makes it seem cut rate. "Bounty" seems like another word for stipend or referral fee. As in - no we don't feel you deserve what your normal rate is - but how about "something for your troubles"......

It may be proven I'm way off base here, but I don't know anyone who has made any placements there - and I DO know some that have been trying.

Remember - your ability to make a placement is tied directly to your clients desire to pay your fee. The less they want to pay is a direct indicator of the fact they do not value what you do.

Your mileage may vary. But if you are looking for a job to fill - just let me know. I've got several clients who value our efforts, provide timely feedback and pay the full fees charged!

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Permalink Reply by Jason Babyak on September 2, 2008 at 7:08pm

Thanks Jerry and Christopher, you have confirmed what I assumed.

I was hopeful about Bounty Jobs because I am not a fan of marketing and my current client list seems to have cut back on their hiring a bit. Being independent I have to do it all so I viewed this as an opportunity to pick positions that appeal to me with no marketing. As for them getting their cut yes that is true but they give the recruiter 75% and when I work on splits they are normally 50/50 so on paper this looked like something appealing to me, unfortunately it was not as I had hoped.

Jason

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Permalink Reply by Jerry Albright on September 2, 2008 at 8:06pm

Jason - what is your recruiting specialty? I see you've got a background in Engineering. Would you be able to help with some good positions in that field? I have a great relationship with a client that is hiring design engineer, software engineer and a controls/power engineer. They are an electric motor manufacturer and the positions are in the midwest.

If you can help it would be great!

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Permalink Reply by Tony Petrucci on September 3, 2008 at 7:37am

Jason,

It seems like Bounty Jobs is an interesting concept and overall is pretty well run for a new company. My company has tinkered with it. We are not using it now as a part of our strategy at this point as we are a retained search firm and it doesn't seem to fit our business model. I think Bounty is better suited for contingency searches, potnetially, than retained searches given their process for client and candidate management. I think if you have a certain niche and can find a few clients that have a need for that niche, it may be viable as, at least a part, of a business strategy. The problem you describe is the main reason we have decided not to use it currently as your contact with the hiring manager is so limited. Have you tried emailing the hiring managers for feedback or to clarify job specs?

Tony

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Permalink Reply by Scott Godbey on September 3, 2008 at 9:21am

Jason,

I have worked with Bounty Jobs on occasion. I've even made a placement through them. The challenge of Bounty Jobs is that it reinforces the "recruiter as a commodity" concept. So it's not surprising that many employers utilizing Bounty are slow in responding to candidates.

I think that Bounty is best used as an outlet for candidates from other search assignments or for positions that are a main stay of your desk. I wouldn't recommend treating any position on Bounty as a true search assignment.

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Permalink Reply by Slouch on September 3, 2008 at 9:38am

I agree agree completely with you Scott.

Scott Godbey said:

Jason,

I have worked with Bounty Jobs on occasion. I've even made a placement through them. The challenge of Bounty Jobs is that it reinforces the "recruiter as a commodity" concept. So it's not surprising that many employers utilizing Bounty are slow in responding to candidates.

I think that Bounty is best used as an outlet for candidates from other search assignments or for positions that are a main stay of your desk. I wouldn't recommend treating any position on Bounty as a true search assignment.

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Permalink Reply by Rob on September 3, 2008 at 12:29pm

I've consistently seen recruiters wish there was more ability to communicate with hiring managers through BountyJobs. Other than this, what features would recruiters find useful there? What could they do to reduce the "recruiter as commodity" feeling? Or conversely, what exactly creates the commodity impression?

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Permalink Reply by Erica Jayne Walsh on September 3, 2008 at 1:04pm

Hey All,

This is Erica from BountyJobs. I am responsible for connecting with our users and thought I would jump in to offer my thoughts. As with anything in life, BountyJobs is what you make it. This year thousands of placements are occurring through the site and as someone who engages on a daily basis with the recruiters and employers using the site, I have to tell you that a lot of the recruiters on BountyJobs are taking on these job requisitions on as serious sourcing assignments. This is evident as many Fortune 100 companies have been able to fill jobs (quickly) on BountyJobs; jobs that they had previously deemed unable to fill as the reqs had been open for 6+ months.

I'm glad to talk candidly about the BountyJobs marketplace, as it isn't perfect. Please reach out to me if you'd like to discuss.

Rob: I think you bring up an excellent point. As you can imagine, our business very much depends upon headhunters/ search firms thriving and being seen as the source to get top talent and passive candidates. We very much strive to create technology that enables the enhancement of relationships and fights commoditization that occurs any time you take formal relationships and make them virtual. Would you be open to chatting? I'd love to hear your insights and better understand what creates the commodity impression.

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Permalink Reply by Jerry Albright on September 3, 2008 at 1:25pm

Thanks for jumping in Erica. I've wondered about Bounty Jobs and would be interested to learn firsthand about your customer base.

Can you tell us what the average fee is for Bounty Jobs placements? Is that negotiated by one of your team or do they just indicate the fee they will pay?

Also - when they (clients) sign on to Bounty Jobs - is there any assurance they will not then go "outside" to an agency not in they system?

Thank you again for sharing with us. I really am interested in learning more.

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Permalink Reply by Mindy Whitcher on September 3, 2008 at 1:59pm

JASON, Our company has used used Bounty Jobs previously. This is what I recommend to the recruiters in our office-do not use Bounty Jobs exclusively. If the company does not stay in touch with you or your candidates do not call to give you feedback, you may not know when you have a placement or not. Companys are using Bounty for a myriad of different reasons, there could have been an exclusive contract signed and the recruiter did not produce for the company and they are now leary of using another recruiter, but they will use Bounty because multiple recruiters are submitting candidates. I think that Bounty Jobs has validity, but you must stay in touch with your candidates, thats probably the best advice I can give you. We took a pharmaceutical sales position, multiple locations and out of 90 candidates submitted, one was hired. I personally would prefer to work hand in hand with my clients and have repeat business. That's what works best for me, but if I didn't have any clients and needed business, I may get engaged on another search through Bounty. There just isn't much feedback other than through email. That doesn't do it for me completely.
Mindy Whitcher
Career Search International
509.755.5627 Ext. 101

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Permalink Reply by Erica Jayne Walsh on September 3, 2008 at 2:11pm

Hi Jerry:

Our employers set the fee that they are willing to pay. It is usually a percentage of base salary, and last time I checked the average was ~23%. We do allow employers to post flat fees, but only if thats the industry standard... generally positions like Sales, Nursing, or other healthcare specific roles. And I am fairly confident that our average fee is >20K.

I apologize for the vagueness... I am at SourceCon in Atlanta and don't have the ability to pull those numbers from here.

I will tell you that when we train employers on using BountyJobs we discourage discounting. In fact, we encourage them to pay as much as their budgets will allow, as this ensures that the best headhunters are working on the jobs. There are occasions where we do not allow employers to post because we fear that their budgets are too low and that it negatively affect the search firm market.

As for companies sourcing outside of BountyJobs... Employers aren't signing contracts that force them to use BountyJobs exclusively, so they can continue to manage their agency relationships outside of our system. That said, many top companies have created internal regulations that force their internal recruiters to use BountyJobs exclusively as it has so many efficiencies and enables companies to understand their agency use.

Hope this helps.


Jerry Albright said:

Thanks for jumping in Erica. I've wondered about Bounty Jobs and would be interested to learn firsthand about your customer base.

Can you tell us what the average fee is for Bounty Jobs placements? Is that negotiated by one of your team or do they just indicate the fee they will pay?

Also - when they (clients) sign on to Bounty Jobs - is there any assurance they will not then go "outside" to an agency not in they system?

Thank you again for sharing with us. I really am interested in learning more.

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