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BenchOn [SMART 100, 2017]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

I saw smart, capable people losing their small businesses because of the astronomical cost of having staff ‘on the bench’. I realised that industries are becoming far more contract/project based and the inconsistency of contracts places significant financial pressure on small firms. They are often forced to let go of valuable, loyal staff because they simply can’t afford the salaries while they search for the next contract. I then heard an enterprise level company express their frustration that they don’t have a bench of high quality staff just sitting around to meet short notice demands. Supply meet demand. Voila!.

2. WHAT & HOW

The purpose of this innovation is to…

…solve employee under utilisation. Under utilised staff are costing Australian companies $305bn/year and is a major lever in industry productivity and company profitability. Improved utilisation increases cash flow and empowers businesses to grow and create new full-time jobs in the economy.

It does this by…

…automatically matching a businesses idle staff, who are in-between contracts, to short-term contracts from reputable companies and Government Agencies.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

…businesses can now manage the peaks and troughs of their business cycle with high quality contractors to supplement their teams during the peaks, and short-term contracts for their staff in the troughs. Unlike the plethora of recruitment and freelance startups, BenchOn hits the nail on the head by creating greater efficiencies while empowering business growth.

Its various benefits to the customer/end-user include…

…higher employee utilisation rates, increased profit, job stability for their teams, access to the hidden talent inside Australia’s best companies, access to contracts in neighbouring industries that they don’t have the network to reach themselves and its secure and confidential.

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

…either increasing their rates making business’s less competitive or by lowering business costs. Lowering costs included cutting their workforce or reducing salaries. These actions create increased staff turnover forcing them to rely on freelancers or recruitment firms which simply treats the symptoms, not the true problem and ends up costing businesses more.

Its predecessors/competitors include…

…UUUGA which is solely supporting the IT vertical with a similar model. Competitive talent sourcing options include job search platforms, recruitment agencies or freelance platforms. None of these options increase business profitability and empower them to grow.

5. TARGET MARKET

It is made for…

…small to medium businesses (<100 staff) in the professional services markets. For these businesses, their employees are their capability and competitive advantage. Their business model is to provide highly capable teams to produce world-class solutions to their clients yet they often don’t have all skill sets required for each project’s requirements and often sub-contract other firms to supplement their teams. They operate in industries such as Defence, IT, Mining, Oil & Gas, Construction and Education and are continually looking to diversify to lessen the impact of these ‘feast or famine’ industries and improve their profitability.

It is available for sale through…

Our website at www.benchon.com.au

Our marketing strategy is to…

…build our market around the needs of our clients. We source and on-board business’s that have the capacity to fill your sub-contracting requirements with each new sign-up bringing both supply and demand. We have also partnered with QMI Solutions to support their 40,000 member companies and With You With Me to do our part in supporting veteran transition.

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

Maven Judge Vote: BenchOn – Smart 100 2017
(Please note – The form below is for judging purposes only and is restricted to the public)

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