Youth4work : Ranking the employable talent pool, to make hiring easy for employers
In a country of a billion people, with an ever increasing skilled workforce, finding a job is a challenge. And finding a job which is almost tailor made for you is nothing less than a dream come true! A few years back, Rachit Jain encountered this first hand when he started his first corporate job at Mahindra. He realized that companies hired in bulk during campus recruitments and as a result people ended up in places which was neither their passion nor their area of expertise. Being a perennial entrepreneur at heart he decided to tackle this problem head on.
Rachit realized that many employers, small and big were actively seeking people with very specific skill sets to do very specific jobs. However any ad for a position on major job portals present today, normally led to load of mails from both qualified and under qualified aspirants.He believed this problem could be solved by giving the employers exactly what they are looking for. A list of students who are actively seeking jobs, sorted based on proficiency in a given skill, location and experience — the idea was to rank a person’s talent — something which can be more delightful for employers.
Youth4work has an algorithm called yRank algorithm, which rates a candidate based on their scores in tests, how active they are in seeking jobs and your performance in freelance projects. To be honest, we were initially a bit skeptical on the accuracy of the algorithm, and how accurately their tests would be able to judge a given student. However a closer look at the stats of each question in a particular test, that they used to move it up or down their adaptive test, and a well qualified team that is working continuously on their tests made us realize that they may really be upto something big.
Companies spend a unreasonably high amount of time and money on finding the right talent, and are often disappointed in this pursuit. Rachit lists a lot of examples from industry giants like Microsoft to smaller players looking for journalists, who had spent ages on the well-known job portals before they discovered Youth4work. “They had been looking for weeks, before they landed on our site, where thanks to the ranked profiles, they got the right match in a matter of days,” says Rachit proudly.
Youth4work was started around two years ago by Rajeev Jainwho had over 8 years of experience in major tech firms and Rachit, who had over 6 years of experience with Mahindra. Today the Youth4work team has around 3,500 employers like Microsoft, Ibibo and Mahindra and over 1,30,000 profiles of aspiring candidates, using the site to connect the right candidate to the right job. As the number of employable workforce increases each year in India, the online recruitment industry is all set to boom. If Youth4work is able to maintain and capitalize on their USP, they can see good growth in the years to come. However with a lot of established players like Monster and Naukri, niche players like Top Talent biting into that all crucial market share; and players like Hackerearth which help you search for coding talent, the ride ahead promises to be a steep one.