How Erekrut is tapping tech to revolutionise recruitment
Erekrut is a recruitment platform that addresses industry challenges through technological innovation. It provides recruiters with comprehensive tools and fosters efficient campus placements.
The recruitment industry in India is flourishing with the country witnessing a surge in demand for skilled and talented professionals across various sectors. The Indian staffing and recruitment market, valued at $18.06 billion in 2022, is expected to grow at a CAGR of 13.2% to reach $48.53 billion by 2030, according to the Insight partners. The industry offers opportunities for both job seekers and employers to find the best match for their needs and aspirations. However, it also faces challenges such as talent shortage, skill gap, high attrition rate, and lack of standardisation.
Changing the prevalent norms of the sector through technological innovation, Erekrut emerged as a unique solution to several of these challenges. The platform, trusted by over 4.5 million candidates and 1,800+ recruiters, offers a pre-hiring assessment job portal that connects talent with companies in a hassle-free manner.
The birth and evolution of Erekrut
Founded by Dr Ravinder Goyal and Ajay Goyal,embarked on its mission in July 2020, amidst a global pandemic that posed more challenges than opportunities. The founders, however, saw a chance to redefine recruitment paradigms. From its beta launch to the unveiling of a revamped site in March 2023, Erekrut’s trajectory has been laden with continuous innovation, adapting to the evolving recruitment ecosystem.
Having secured Rs 35 million in a pre-seed round in May 2022, including Rs 10 million from the founders, and being on the verge of raising an additional Rs 25 million through a bridge Round, the company’s journey is a testament to the founders' strategic acumen. Erekrut is also planning to raise $3 million in successive months for further scaling up its growth.
The founders’ story
Every groundbreaking venture begins with a spark of inspiration. For Erekrut, that spark was ignited by its founders.
With a rich history in vocational training and placement, Dr Goyal has orchestrated the training and placement of over two lakh students across a vast network of 650+ centres throughout India. His service was recognised with the prestigious National Golden Peacock Innovative Product/Services Award in 2002 besides the Gem of India Award in 2002.
Ajay Goyal, an entrepreneur since his days at Amity University, brings a blend of innovation and strategic thinking to the table. A Six Sigma Green Belt holder, he has many awards validating his innovative prowess.
Focusing on technological ingenuity
Erekrut’s technological prowess lies at the heart of its success, making recruitment a more informed and streamlined process. The platform has an extensive database of over 102,239 questions tailored for 1,293 distinct job roles, and aims to extend this to 2,500 job roles shortly. Its integration of modern assessment methodologies alongside AI algorithms not only optimises the recruitment process but empowers recruiters with actionable insights, making a significant stride towards informed recruitment.
Campus placement revolution
Erekrut ensures 100% placement for students by connecting campuses with a plethora of companies. It acts as a bridge that helps students cross over to a promising professional life, even assisting in finding placements for the last rung of students.
It also functions as a CRM for campuses, offering a one-window communication channel through SMS and email for managing their entire alumni network, as student upload is free, ensuring a lifelong connection between the institution and its alumni.
Erekrut is more than just a job posting platform; it's a holistic solution for recruiters. The platform simplifies and enhances the entire recruitment process, from scouting top talent to streamlining interviews and providing efficient assessment tools. Recruiters can issue provisional offer Letters directly through Erekrut, speeding up the hiring process.
With features like boosting jobs to reach a wider audience, personalised SMS and email notifications to reach probable candidates, access to a 100k+ pool of pre-hiring assessment questions, 2,500+ job description templates, advanced filters in ARDEX for precise candidate searches, and the robust Erekrut database engine, it offers a comprehensive suite of tools to meet all recruitment needs.
The all-in-one approach, which consolidates the entire recruitment journey under one roof, sets it apart. It ensures efficiency and reduces the risk of overlooking critical details. Erekrut empowers recruiters to make informed decisions, connect with top talent efficiently, and build high-performing teams for organisational success.
A testament to growing trust
Erekrut’s growth narrative is nothing short of inspiring. From engaging 11,000 daily users in April 2023 to soaring to over 50,000 daily users by October 2023, the platform hit a million users milestone in the same month. With sights set on engaging 100,000 daily users by Q4 2023, the growth trajectory is a testament to the burgeoning trust and escalating prominence of Erekrut in the recruitment sector.
Erekrut’s journey ahead is about strategic partnerships, global expansion and an unwavering commitment to technological innovation. With an ambitious vision to enable companies to close recruitments within 8-12 hours from job posting, Erekrut is on a path to becoming synonymous with innovation, efficiency, and exponential growth in the recruitment domain.