The Hidden Value Of A Marketplace: What’s The Concept and What Does It Give To You?

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The Hidden Value Of A Marketplace - TalentVine Blog

What are the true values of using a marketplace like Airbnb, Uber and TalentVine? 

Imagine going for an incredible weekend away in an Airbnb. You love the accommodation so much that you ask the host to stay again next month. The host asks you to transfer the cash directly so that it doesn’t go through the Airbnb platform. However, when you arrive, you find the old towels in the room. The exotic breakfast platter isn’t available. And you don’t get much sleep due to the hosts having a party on the balcony.

Now, imagine you had booked through Airbnb. The host would have been rolled out the red carpet for you because they know that your ratings would affect their reputation. The price would have remained competitive, as they want to attract guests when being compared to other accommodations.

This is why you get mints and water in a fresh-smelling Uber.

As taxis are unregulated, it’s unlikely to get this service while being subjected to the sound of Alan Jones on talkback radio. The drivers offer exceptional service as they want good ratings. That’s the value of marketplaces.

Here is what happened on TalentVine

One of our ASX-listed employers has recently hired two roles through us. One was a sales role (12% and 3 month replacement guarantee). And the other one was tech role (12.5% and 3 month replacement guarantee). These are a great result for both the employer and the recruitment agency. After having a very positive experience with this agency, they asked the consultant to help them hire an additional tech role. They provided a new hire in less than two weeks. Great result again, right? Well, not quite.

For this additional role, this employer had to pay a 20% recruitment fee with 3-month replacement guarantee. As we are set-up with this employer’s procurement team as their sole recruitment provider*, we found out this situation when we generate this invoice. 

*Elastic PSA use case: they have the freedom to hire through any of our 350 partner agencies without having to go through both their finance teams

Had that role been added through TalentVine, the employer could have still selected this agency. However, the agency would have offered fees at the more competitive end, as they would have known the bids were competitive. Plus, the recruiters would have done a much better job as they know that they are going to be rated and measured at the end of each hiring assignments on TalentVine. 

We want to guide employers to the best result, every time. We want you to make great hires at fees that inspire exceptional work. That’s the reason we, a recruitment marketplace, exist.

TalentVine – The Trusted Recruitment Marketplace 

If you’d like to discuss your current hiring processes, we are always happy to help. Please don’t hesitate to get in touch with the TalentVine team – you can connect with any of our +370 specialist recruitment agencies.

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