If you have either lost your job amid the coronavirus (COVID-19) outbreak or don’t have to serve notice period in your company, this new recruitment platform would be the right fit for you.
Digital marketing consulting firm Markivis has launched a portal ‘Monday Joining’ where recruiters looking for candidates, who can immediately join and job-seekers in search of immediate roles, will be matched. The platform was launched on August 10.
Data from Centre for Monitoring Indian Economy (CMIE) showed that the unemployment rate in India as of August 11 was 7.9 percent. In urban areas, it was 9.7 percent while in rural areas it stood at 7.1 percent.
CMIE data showed that against an average employment of 404 million in FY20, employment in June was 374 million. This meant that 30 million jobs had been lost ever since the lockdown was imposed from March 25 due to the coronavirus pandemic.
Amit Khanduja, CEO of Monday Joining, said the unique selling proposition (USP) of the platform is that candidates need to join within 14 days of accepting the offer.
Currently, candidates typically serve two to three months of notice period before joining a new company. Khanduja said this process often leaves recruiters hanging because candidates often use the notice period to negotiate with multiple companies.
“A candidate could inform a prospective employer merely one day before joining that he/she is taking up another offer. In sectors like IT, where a prospective employee is also interviewed by clients, this looks unprofessional,” he added.
Khanduja said that about 37,000 candidates have registered so far. The platform is looking to have 100,000 resumes by the end of 2020.
Unlike traditional job portals, Monday Joining will not have job descriptions. Candidates can upload their resume on the portal and recruiters will be able to search for profile, skills and work experience.
“It will be easier to recruit because we are rolling out features wherein recruiters could get candidates who are background verified with validated references. Further, recruiters can also view which candidates have accepted a job offer but not joined based on past history,” he added.
The company is not immediately looking for funds and is run by the 15-member-team of Markivis.
While the platform is free right now, Khanduja said there will be subscription model used for revenue generation from recruiters.
“We want it to be affordable for the smaller organisations as well. While it will completely free for candidates, we are working on a subscription model and pricing is being determined,” he added.
Typically, job portals charge between Rs 2,000 and Rs 2,500 for posting a vacancy with a validity of about 30 days. Similarly, there is a fee for viewing databases and this ranges from Rs 5,000 to Rs 7,500 for three-days to view about 200-300 profiles.
The online recruitment market in India is estimated at $1 billion as of April 30. Large players in the Indian market include platforms like Naukri, Monster, Indeed and Shine.