What happens when bankers can make their 'true connection' online?
Hiring/Recruiting solutions are a varied lot. They almost have to be as the methods that people use to find jobs, learn of jobs, etc. rarely match the ways that employers seek new employees. Add in other issues (e.g., references) and hiring is far from simple. Just look at all of the solutions out there. There are online job boards, resume boards, automated classified systems, freelance systems, solutions for professional associations, alumni solutions, etc.
The folks at OneWire have created a solution for the Financial Services industry. They’ve built an impressive database of passive job seekers in this industry. Prospective employers can drill down to an extensive level of detail to identify potential job candidates. The software provides a matching capability that compares ideal characteristics/experience to that of the candidate.
So, what’s so different about this? Here are a few differentiators:
- the solution to date is really targeted to a single vertical industry for now - the matching technology extends into some areas that only a Wall Street banker would ever think to ask for - OneWire pays bounties to those in its database. Even if you don’t want the new position or aren’t quite a fit, a referral from you earns you some coin. OneWire wants to make every prospective employee a recruiter. More than anything else, that’s a powerful tool that is building out their database and improving the matches they are making.
OneWire is more eHarmony than a traditional talent acquisition system. It tries to find that most ideal match between a company and a prospective employer.
I would liken OneWire to JobFox with one key exception: the focus OneWire has on its targeted vertical.
How will OneWire play out given the recent meltdown in the Financial Services sector? According to their executives, just fine. Granted some mighty big banks have failed spectacularly in recent times but others are retooling their offerings and talent to fill in the holes left by others. All of that deck chair shuffling could be expedited with a focused toolset.
Let's watch how this solution play out. Once they finish building out their Finance solution, they should branch out into other verticals.